Chevron Co. (NYSE:CVX) Shares Sold by Accordant Advisory Group Inc

Accordant Advisory Group Inc lowered its stake in shares of Chevron Co. (NYSE:CVX) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,816 shares of the oil and gas company’s stock after selling 267 shares during the quarter. Chevron comprises approximately 2.2% of Accordant Advisory Group Inc’s investment portfolio, making the stock its 15th largest holding. Accordant Advisory Group Inc’s holdings in Chevron were worth $2,318,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVX. International Assets Investment Management LLC lifted its position in Chevron by 4.9% during the 4th quarter. International Assets Investment Management LLC now owns 21,470 shares of the oil and gas company’s stock worth $3,202,000 after acquiring an additional 1,005 shares during the period. Tennessee Valley Asset Management Partners acquired a new stake in shares of Chevron during the fourth quarter worth about $83,000. Elite Wealth Management Inc. boosted its position in Chevron by 26.8% in the fourth quarter. Elite Wealth Management Inc. now owns 4,737 shares of the oil and gas company’s stock valued at $707,000 after buying an additional 1,000 shares during the last quarter. Rakuten Securities Inc. acquired a new position in Chevron in the 4th quarter worth approximately $192,000. Finally, KLCM Advisors Inc. raised its position in Chevron by 34.0% during the 4th quarter. KLCM Advisors Inc. now owns 23,776 shares of the oil and gas company’s stock worth $3,546,000 after buying an additional 6,029 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Chevron stock traded up $0.47 during midday trading on Friday, reaching $147.27. The company had a trading volume of 6,874,416 shares, compared to its average volume of 7,867,067. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The company has a market capitalization of $271.41 billion, a P/E ratio of 13.55, a P/E/G ratio of 2.42 and a beta of 1.10. The firm’s fifty day simple moving average is $153.82 and its 200-day simple moving average is $155.96.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter last year, the business earned $3.08 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts anticipate that Chevron Co. will post 11.96 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s payout ratio is 59.98%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CVX. Truist Financial cut their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. TD Cowen lifted their price objective on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Royal Bank of Canada lowered their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Wolfe Research assumed coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Barclays lowered their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $183.82.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.