Nelson Capital Management LLC Trims Holdings in Chevron Corporation $CVX

Nelson Capital Management LLC reduced its stake in Chevron Corporation (NYSE:CVX) by 34.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 18,771 shares of the oil and gas company’s stock after selling 9,734 shares during the quarter. Nelson Capital Management LLC’s holdings in Chevron were worth $3,884,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CVX. Decker Wealth Management LLC purchased a new stake in shares of Chevron in the 1st quarter valued at $591,000. Greenwood Gearhart LLC boosted its holdings in Chevron by 85.4% during the 1st quarter. Greenwood Gearhart LLC now owns 7,340 shares of the oil and gas company’s stock valued at $1,519,000 after acquiring an additional 3,380 shares during the period. KBC Group NV boosted its holdings in Chevron by 49.0% during the 1st quarter. KBC Group NV now owns 320,938 shares of the oil and gas company’s stock valued at $66,402,000 after acquiring an additional 105,475 shares during the period. Liberty Square Wealth Partners LLC grew its position in Chevron by 3.6% in the 1st quarter. Liberty Square Wealth Partners LLC now owns 2,829 shares of the oil and gas company’s stock valued at $585,000 after acquiring an additional 97 shares in the last quarter. Finally, True North Advisors LLC grew its position in Chevron by 26.8% in the 1st quarter. True North Advisors LLC now owns 13,701 shares of the oil and gas company’s stock valued at $2,835,000 after acquiring an additional 2,892 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of several research reports. Jefferies Financial Group reissued a “buy” rating and set a $216.00 price target on shares of Chevron in a research report on Friday, July 10th. TD Cowen lifted their price objective on shares of Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a report on Friday, May 8th. BNP Paribas Exane raised shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 target price on the stock in a research note on Friday, April 17th. Morgan Stanley cut their target price on shares of Chevron from $214.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Finally, UBS Group reiterated a “buy” rating on shares of Chevron in a report on Tuesday, June 23rd. Nineteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $206.83.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expected to sign accords with Iraq to advance investments in major oil fields, including West Qurna 2 and Nassiriya, which could expand long-term production opportunities. Reuters article on Iraq oilfield MOUs
• Positive Sentiment: Reports that Chevron is exploring a pipeline alternative to the Strait of Hormuz suggest a potential way to boost Iraqi export capacity and lower shipping disruption risk, which investors may view as strategically important. The Motley Fool article on Hormuz bypass pipeline
• Positive Sentiment: Chevron is being highlighted as a relatively attractive long-term energy stock versus TotalEnergies because of its premium assets, strong balance sheet, and steadier earnings outlook. Yahoo Finance article comparing CVX and TTE
• Neutral Sentiment: Some commentary says Chevron stock looks closer to fairly valued after a strong five-year run, which may limit upside for investors expecting a clear bargain. Yahoo Finance article on valuation
• Neutral Sentiment: Chevron also benefited from broader energy-sector gains, with the sector rising even as the wider market was mixed. Yahoo Finance sector update

Chevron Stock Performance

Shares of Chevron stock opened at $187.39 on Monday. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71. The company has a market cap of $373.21 billion, a PE ratio of 32.48, a P/E/G ratio of 0.66 and a beta of 0.50. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The business has a 50-day simple moving average of $181.54 and a 200-day simple moving average of $182.66.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.41. The firm had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.18 earnings per share. On average, equities research analysts forecast that Chevron Corporation will post 14.78 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were given a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. Chevron’s dividend payout ratio is currently 123.40%.

Insider Activity at Chevron

In other news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.56% of the company’s stock.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.