Chevron Corporation (NYSE:CVX) Shares Acquired by Accelerate Investment Advisors LLC

Accelerate Investment Advisors LLC boosted its holdings in Chevron Corporation (NYSE:CVX) by 12.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,833 shares of the oil and gas company’s stock after buying an additional 307 shares during the quarter. Accelerate Investment Advisors LLC’s holdings in Chevron were worth $474,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Chevron during the fourth quarter worth $3,017,750,000. Raymond James Financial Inc. purchased a new position in Chevron in the 4th quarter worth about $1,036,302,000. GAMMA Investing LLC raised its holdings in Chevron by 21,191.5% during the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock worth $904,746,000 after buying an additional 5,382,847 shares during the period. Bank of New York Mellon Corp raised its holdings in Chevron by 17.3% during the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after buying an additional 2,432,756 shares during the period. Finally, Amundi lifted its stake in Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock valued at $1,323,549,000 after buying an additional 1,910,262 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CVX shares. 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. BNP Paribas cut shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Barclays downgraded shares of Chevron from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their target price on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Finally, Hsbc Global Res lowered Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and an average target price of $160.24.

Chevron Trading Up 1.9%

Shares of NYSE CVX opened at $148.86 on Wednesday. The business has a 50 day simple moving average of $138.78 and a 200 day simple moving average of $148.91. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a market cap of $259.97 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 2.56 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.93 earnings per share. On average, research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.59%. The ex-dividend date was Monday, May 19th. Chevron’s payout ratio is 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.