Accordant Advisory Group Inc Sells 81 Shares of Chevron Co. (NYSE:CVX)

Accordant Advisory Group Inc trimmed its position in Chevron Co. (NYSE:CVX) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,170 shares of the oil and gas company’s stock after selling 81 shares during the quarter. Chevron accounts for 2.1% of Accordant Advisory Group Inc’s holdings, making the stock its 15th biggest holding. Accordant Advisory Group Inc’s holdings in Chevron were worth $2,197,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Investment Counsel LLC raised its position in shares of Chevron by 1.4% in the fourth quarter. Capital Investment Counsel LLC now owns 75,538 shares of the oil and gas company’s stock valued at $10,941,000 after buying an additional 1,030 shares in the last quarter. NorthStar Asset Management LLC NJ increased its stake in Chevron by 3.2% during the 4th quarter. NorthStar Asset Management LLC NJ now owns 3,961 shares of the oil and gas company’s stock worth $574,000 after acquiring an additional 123 shares during the period. Mayflower Financial Advisors LLC raised its holdings in Chevron by 24.8% in the 4th quarter. Mayflower Financial Advisors LLC now owns 21,585 shares of the oil and gas company’s stock valued at $3,126,000 after acquiring an additional 4,289 shares in the last quarter. Orca Wealth Management LLC bought a new stake in shares of Chevron during the 4th quarter valued at $2,063,000. Finally, BSW Wealth Partners grew its holdings in shares of Chevron by 18.0% during the 4th quarter. BSW Wealth Partners now owns 4,951 shares of the oil and gas company’s stock worth $717,000 after purchasing an additional 754 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent analyst reports. Royal Bank of Canada upped their price objective on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. UBS Group upped their price target on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Tuesday, November 5th. Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Finally, Scotiabank reduced their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Chevron stock opened at $155.79 on Thursday. The business has a 50 day moving average of $153.67 and a 200-day moving average of $151.13. The company has a market capitalization of $279.97 billion, a P/E ratio of 17.12, a P/E/G ratio of 1.37 and a beta of 1.12. 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 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $3.05 EPS. On average, equities research analysts predict that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.19%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is presently 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.