Access Financial Services Inc. Purchases 136 Shares of Chevron Co. (NYSE:CVX)

Access Financial Services Inc. increased its position in shares of Chevron Co. (NYSE:CVX) by 1.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 9,775 shares of the oil and gas company’s stock after acquiring an additional 136 shares during the period. Access Financial Services Inc.’s holdings in Chevron were worth $1,458,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Peak Financial Management Inc. grew its stake in Chevron by 30.8% in the 4th quarter. Peak Financial Management Inc. now owns 1,617 shares of the oil and gas company’s stock worth $241,000 after buying an additional 381 shares in the last quarter. Yarger Wealth Strategies LLC grew its stake in Chevron by 22.3% in the 4th quarter. Yarger Wealth Strategies LLC now owns 1,782 shares of the oil and gas company’s stock worth $266,000 after buying an additional 325 shares in the last quarter. Evanson Asset Management LLC grew its stake in Chevron by 1.4% in the 4th quarter. Evanson Asset Management LLC now owns 17,480 shares of the oil and gas company’s stock worth $2,607,000 after buying an additional 244 shares in the last quarter. Everett Harris & Co. CA grew its stake in Chevron by 5.5% in the 4th quarter. Everett Harris & Co. CA now owns 581,069 shares of the oil and gas company’s stock worth $86,672,000 after buying an additional 30,212 shares in the last quarter. Finally, Accel Wealth Management grew its stake in Chevron by 5.9% in the 4th quarter. Accel Wealth Management now owns 6,288 shares of the oil and gas company’s stock worth $938,000 after buying an additional 349 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.9 %

Chevron stock traded up $1.39 during trading hours on Thursday, hitting $157.74. The stock had a trading volume of 8,232,104 shares, compared to its average volume of 8,778,653. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $292.97 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $172.88. The stock’s 50-day moving average price is $151.60 and its 200-day moving average price is $152.67.

Chevron (NYSE:CVX) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.26. The business had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.09 earnings per share. Equities research analysts anticipate that Chevron Co. will post 13.04 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.13%. Chevron’s payout ratio is currently 57.39%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Mizuho upped their price objective on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. UBS Group dropped their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, December 14th. Royal Bank of Canada increased their price target on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, Piper Sandler dropped their price target on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $180.39.

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.