Accelerate Investment Advisors LLC Grows Holdings in Chevron Corporation (NYSE:CVX)

Accelerate Investment Advisors LLC increased its stake in Chevron Corporation (NYSE:CVX) by 12.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,833 shares of the oil and gas company’s stock after buying an additional 307 shares during the period. Accelerate Investment Advisors LLC’s holdings in Chevron were worth $474,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Sage Capital Advisors llc raised its position in shares of Chevron by 2.2% during the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock valued at $7,097,000 after acquiring an additional 919 shares in the last quarter. Pines Wealth Management LLC increased its stake in Chevron by 3.3% during the first quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company’s stock valued at $1,306,000 after purchasing an additional 253 shares during the last quarter. Viking Fund Management LLC raised its holdings in shares of Chevron by 9.3% during the first quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company’s stock worth $19,573,000 after purchasing an additional 10,000 shares during the period. Allianz SE bought a new position in shares of Chevron in the 4th quarter worth about $9,369,000. Finally, Nicholas Company Inc. lifted its position in shares of Chevron by 4.3% in the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock worth $11,591,000 after buying an additional 3,280 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Up 1.9%

Chevron stock opened at $148.86 on Wednesday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The stock has a market capitalization of $259.97 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 2.56 and a beta of 0.83. The firm has a 50 day simple moving average of $138.78 and a 200-day simple moving average of $148.91.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same period last year, the company posted $2.93 EPS. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s payout ratio is currently 78.17%.

Analysts Set New Price Targets

CVX has been the topic of several research reports. DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective on the stock. in a research note on Tuesday, May 6th. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. HSBC lowered Chevron from a “buy” rating to a “hold” rating and reduced their price objective for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Mizuho lowered their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company cut their target price on Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Chevron presently has an average rating of “Hold” and an average target price of $160.24.

Chevron 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.