Accredited Investors Inc. Sells 96 Shares of Chevron Co. (NYSE:CVX)

Accredited Investors Inc. lowered its position in Chevron Co. (NYSE:CVX) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,284 shares of the oil and gas company’s stock after selling 96 shares during the quarter. Accredited Investors Inc.’s holdings in Chevron were worth $765,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CVX. Norges Bank purchased a new position in Chevron in the 4th quarter worth $3,017,750,000. Raymond James Financial Inc. acquired a new stake in Chevron in the 4th quarter valued at approximately $1,036,302,000. Bank of New York Mellon Corp boosted its position in Chevron by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock valued at $2,389,380,000 after buying an additional 2,432,756 shares during the period. Amundi lifted its position in shares of Chevron by 27.7% during the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock worth $1,323,549,000 after purchasing an additional 1,910,262 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Chevron by 6.9% in the 4th quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company’s stock valued at $2,176,579,000 after buying an additional 964,426 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVX has been the subject of several analyst reports. Wells Fargo & Company cut their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. UBS Group cut their target price on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday. Piper Sandler reduced their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Raymond James lowered their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Finally, Truist Financial reduced their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $173.53.

Chevron Stock Performance

Shares of CVX opened at $142.65 on Thursday. The business’s 50 day moving average price is $155.99 and its 200-day moving average price is $153.96. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $251.15 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.46 and a beta of 0.93. Chevron Co. has a 52 week low of $133.88 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the previous year, the business posted $3.45 earnings per share. Equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.79%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate insiders.

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.