Accredited Investors Inc. Has $792,000 Position in Chevron Co. (NYSE:CVX)

Accredited Investors Inc. grew its stake in Chevron Co. (NYSE:CVX) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,380 shares of the oil and gas company’s stock after purchasing an additional 142 shares during the period. Accredited Investors Inc.’s holdings in Chevron were worth $792,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Chevron in the first quarter valued at $566,000. Empowered Funds LLC lifted its stake in Chevron by 5.4% in the first quarter. Empowered Funds LLC now owns 429,000 shares of the oil and gas company’s stock valued at $67,670,000 after buying an additional 22,047 shares during the period. Davis R M Inc. boosted its stake in Chevron by 15.9% during the 1st quarter. Davis R M Inc. now owns 28,634 shares of the oil and gas company’s stock worth $4,517,000 after acquiring an additional 3,936 shares during the last quarter. Signature Estate & Investment Advisors LLC grew its holdings in shares of Chevron by 16.4% in the 1st quarter. Signature Estate & Investment Advisors LLC now owns 334,778 shares of the oil and gas company’s stock valued at $52,808,000 after buying an additional 47,089 shares during the period. Finally, Secured Retirement Advisors LLC grew its stake in Chevron by 23.8% in the first quarter. Secured Retirement Advisors LLC now owns 11,391 shares of the oil and gas company’s stock valued at $1,797,000 after acquiring an additional 2,193 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Wells Fargo & Company decreased 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. Bank of America started coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Mizuho reduced their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Finally, Truist Financial boosted their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $174.93.

Chevron Stock Performance

NYSE CVX opened at $161.42 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm has a market capitalization of $290.09 billion, a price-to-earnings ratio of 17.74, a P/E/G ratio of 3.63 and a beta of 1.09. The firm’s 50 day simple moving average is $149.39 and its 200 day simple moving average is $152.62.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the prior year, the company earned $3.05 EPS. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, research analysts expect that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.04%. Chevron’s dividend payout ratio (DPR) 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.