Nelson Capital Management LLC Has $4.38 Million Stock Position in Chevron Co. (NYSE:CVX)

Nelson Capital Management LLC cut its holdings in shares of Chevron Co. (NYSE:CVX) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,258 shares of the oil and gas company’s stock after selling 1,184 shares during the period. Nelson Capital Management LLC’s holdings in Chevron were worth $4,383,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CVX. Legacy Investment Solutions LLC acquired a new position in shares of Chevron in the 3rd quarter valued at $29,000. Rational Advisors LLC acquired a new position in shares of Chevron during the 3rd quarter worth about $29,000. Darwin Wealth Management LLC bought a new stake in shares of Chevron in the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron in the 3rd quarter valued at approximately $31,000. Finally, New Wave Wealth Advisors LLC bought a new position in Chevron during the 4th quarter worth approximately $39,000. 72.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research analyst reports. Barclays decreased their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Truist Financial reduced their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and upped their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Piper Sandler dropped their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Trading Down 1.0 %

CVX stock opened at $156.38 on Wednesday. The company’s 50-day simple moving average is $152.30 and its 200 day simple moving average is $151.28. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a market capitalization of $281.04 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the business earned $3.45 earnings per share. As a group, sell-side analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.37%. Chevron’s payout ratio is 70.37%.

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.