Accel Wealth Management Acquires 114 Shares of Chevron Co. (NYSE:CVX)

Accel Wealth Management grew its holdings in shares of Chevron Co. (NYSE:CVX) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,498 shares of the oil and gas company’s stock after buying an additional 114 shares during the quarter. Accel Wealth Management’s holdings in Chevron were worth $1,087,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Life Planning Partners Inc purchased a new stake in shares of Chevron in the fourth quarter worth approximately $25,000. IMG Wealth Management Inc. bought a new stake in Chevron during the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron during the fourth quarter worth $29,000. 10Elms LLP purchased a new stake in Chevron in the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC lifted its stake in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 88 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Piper Sandler reduced their target price on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. UBS Group cut their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Redburn Atlantic reaffirmed a “sell” rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. BNP Paribas lowered shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Finally, HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and dropped their target price for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Chevron has an average rating of “Hold” and an average price target of $160.24.

Chevron Stock Up 1.2%

CVX stock opened at $139.55 on Wednesday. The stock has a fifty day moving average of $140.73 and a 200-day moving average of $150.20. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a market capitalization of $243.71 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company’s revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.93 earnings per share. As a group, equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s payout ratio is currently 78.17%.

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.