Accordant Advisory Group Inc Buys 435 Shares of Chevron Co. (NYSE:CVX)

Accordant Advisory Group Inc increased its stake in Chevron Co. (NYSE:CVX) by 2.9% during the 3rd quarter, Holdings Channel reports. The firm owned 15,251 shares of the oil and gas company’s stock after purchasing an additional 435 shares during the quarter. Chevron comprises approximately 1.8% of Accordant Advisory Group Inc’s portfolio, making the stock its 18th biggest holding. Accordant Advisory Group Inc’s holdings in Chevron were worth $2,246,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Westhampton Capital LLC grew its position in Chevron by 1.9% during the third quarter. Westhampton Capital LLC now owns 6,880 shares of the oil and gas company’s stock valued at $1,013,000 after acquiring an additional 125 shares during the last quarter. Symphony Financial Ltd. Co. grew its holdings in shares of Chevron by 7.1% in the third quarter. Symphony Financial Ltd. Co. now owns 28,636 shares of the oil and gas company’s stock worth $4,196,000 after purchasing an additional 1,902 shares during the last quarter. Blodgett Wealth Advisors LLC grew its holdings in shares of Chevron by 12.9% in the third quarter. Blodgett Wealth Advisors LLC now owns 3,943 shares of the oil and gas company’s stock worth $581,000 after purchasing an additional 451 shares during the last quarter. Leo Wealth LLC grew its holdings in shares of Chevron by 19.6% in the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after purchasing an additional 1,354 shares during the last quarter. Finally, Hofer & Associates. Inc grew its holdings in shares of Chevron by 9.1% in the third quarter. Hofer & Associates. Inc now owns 1,652 shares of the oil and gas company’s stock worth $243,000 after purchasing an additional 138 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wells Fargo & Company dropped their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Wolfe Research assumed coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $170.00 price target on shares of Chevron in a research note on Tuesday, October 8th. Truist Financial dropped their price target on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Finally, Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Price Performance

NYSE CVX opened at $150.92 on Wednesday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The stock has a 50-day moving average of $146.32 and a 200 day moving average of $153.47. The company has a market capitalization of $278.14 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 2.73 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.08 earnings per share. On average, sell-side analysts forecast that Chevron Co. will post 10.95 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.32%. Chevron’s dividend payout ratio is currently 59.98%.

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.