Chevron Co. (NYSE:CVX) Shares Sold by Accretive Wealth Partners LLC

Accretive Wealth Partners LLC decreased its holdings in Chevron Co. (NYSE:CVX) by 2.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,969 shares of the oil and gas company’s stock after selling 202 shares during the quarter. Accretive Wealth Partners LLC’s holdings in Chevron were worth $1,321,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Darden Wealth Group Inc grew its position in Chevron by 8.7% during the 3rd quarter. Darden Wealth Group Inc now owns 7,761 shares of the oil and gas company’s stock worth $1,143,000 after purchasing an additional 621 shares during the last quarter. 49 Wealth Management LLC lifted its stake in shares of Chevron by 40.6% during the third quarter. 49 Wealth Management LLC now owns 4,054 shares of the oil and gas company’s stock worth $597,000 after buying an additional 1,171 shares during the period. Activest Wealth Management grew its holdings in shares of Chevron by 15.7% during the third quarter. Activest Wealth Management now owns 2,477 shares of the oil and gas company’s stock valued at $365,000 after buying an additional 336 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after acquiring an additional 3,203,899 shares during the period. Finally, Banco Santander S.A. increased its position in shares of Chevron by 25.1% in the 3rd quarter. Banco Santander S.A. now owns 120,116 shares of the oil and gas company’s stock valued at $17,689,000 after acquiring an additional 24,106 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVX has been the topic of several research analyst reports. Royal Bank of Canada boosted their price target on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. UBS Group upped their target price on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Truist Financial increased their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Finally, DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.93.

Insider Buying and Selling

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $161.58 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The business’s 50 day moving average is $151.14 and its two-hundred day moving average is $152.69. The company has a market capitalization of $290.37 billion, a P/E ratio of 17.76, a P/E/G ratio of 3.59 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.05 EPS. Analysts expect that Chevron Co. will post 10.55 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. Chevron’s dividend payout ratio (DPR) is 71.65%.

About Chevron

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.