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

Accordant Advisory Group Inc lifted its stake in shares of Chevron Co. (NYSE:CVX) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,251 shares of the oil and gas company’s stock after purchasing an additional 435 shares during the quarter. Chevron accounts for about 1.8% of Accordant Advisory Group Inc’s portfolio, making the stock its 18th largest position. Accordant Advisory Group Inc’s holdings in Chevron were worth $2,246,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ameriprise Financial Inc. grew its holdings in shares of Chevron by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after purchasing an additional 501,969 shares during the last quarter. Capital World Investors boosted its position in Chevron by 3.2% during the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after buying an additional 495,879 shares during the period. Legal & General Group Plc boosted its position in Chevron by 4.9% during the 2nd quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock worth $2,122,772,000 after buying an additional 629,644 shares during the period. Capital International Investors boosted its position in Chevron by 5.9% during the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after buying an additional 743,042 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Chevron by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock worth $2,036,846,000 after buying an additional 126,889 shares during the period. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on CVX shares. Wolfe Research started coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $170.00 price target on shares of Chevron in a research report on Tuesday, October 8th. Barclays dropped their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Mizuho dropped their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Finally, Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $173.07.

Chevron Stock Performance

NYSE CVX opened at $150.92 on Wednesday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The firm has a market cap 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 fifty day moving average price of $146.32 and a 200-day moving average price of $153.47.

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

Chevron Dividend Announcement

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

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.