Nelson Capital Management LLC Increases Position in Chevron Corporation $CVX

Nelson Capital Management LLC lifted its position in Chevron Corporation (NYSE:CVX) by 0.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,776 shares of the oil and gas company’s stock after purchasing an additional 113 shares during the quarter. Nelson Capital Management LLC’s holdings in Chevron were worth $4,264,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CVX. Greenfield Savings Bank raised its position in shares of Chevron by 0.6% in the 2nd quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock worth $1,663,000 after purchasing an additional 68 shares during the last quarter. Atwater Malick LLC raised its holdings 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 worth $413,000 after buying an additional 68 shares during the last quarter. Hubbell Strickland Wealth Management LLC raised its holdings 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 worth $1,443,000 after buying an additional 68 shares during the last quarter. GDS Wealth Management raised its holdings in Chevron by 4.4% in the first quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company’s stock worth $285,000 after buying an additional 72 shares during the last quarter. Finally, AIMZ Investment Advisors LLC raised its holdings in Chevron by 4.2% in the 1st quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company’s stock worth $298,000 after acquiring an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.6%

Chevron stock opened at $154.92 on Wednesday. The stock has a market cap of $267.70 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The stock has a fifty day moving average of $156.15 and a 200 day moving average of $148.84.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the prior year, the firm earned $2.55 EPS. The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, sell-side analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio is 88.03%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CVX. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a report on Saturday, September 27th. UBS Group boosted their price target on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Piper Sandler boosted their price target on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Finally, Melius initiated coverage on Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price for the company. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $165.15.

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.