Accretive Wealth Partners LLC Reduces Holdings in Chevron Corporation $CVX

Accretive Wealth Partners LLC decreased its holdings in shares of Chevron Corporation (NYSE:CVX) by 0.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 9,893 shares of the oil and gas company’s stock after selling 72 shares during the period. Accretive Wealth Partners LLC’s holdings in Chevron were worth $1,417,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Greenfield Savings Bank boosted its position in Chevron by 0.6% in the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock valued at $1,663,000 after buying an additional 68 shares during the last quarter. Atwater Malick LLC boosted its position in Chevron by 2.4% in the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock valued at $413,000 after buying an additional 68 shares during the last quarter. Hubbell Strickland Wealth Management LLC boosted its position in Chevron by 0.7% in the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock valued at $1,443,000 after buying an additional 68 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC boosted its position in Chevron by 10.3% in the 2nd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 750 shares of the oil and gas company’s stock worth $107,000 after purchasing an additional 70 shares in the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position in Chevron by 4.1% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,815 shares of the oil and gas company’s stock worth $260,000 after purchasing an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Chevron Trading Up 0.9%

Shares of CVX stock opened at $153.12 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The company has a market cap of $264.58 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 2.02 and a beta of 0.84. The stock has a 50 day simple moving average of $156.03 and a 200-day simple moving average of $147.96. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.55 EPS. On average, equities research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio is currently 88.03%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Mizuho lowered their price objective on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Morgan Stanley assumed coverage on Chevron in a research report on Monday, August 4th. They issued an “overweight” rating and a $174.00 price objective on the stock. Piper Sandler upped their price objective on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Melius Research assumed coverage on Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Chevron has an average rating of “Hold” and an average target price of $165.25.

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.