Chevron Corporation $CVX Shares Sold by Nelson Capital Management LLC

Key Points

• Nelson Capital Management cut its Chevron stake by 34.1% in Q1, selling 9,734 shares and leaving it with 18,771 shares valued at about $3.88 million.
• Chevron remains heavily owned by institutions, with 72.42% of shares held by institutional investors and hedge funds, while several other funds recently initiated small positions in the stock.
• The company continues to draw attention from analysts and headlines: it reported EPS of $1.41 for the latest quarter, pays a quarterly dividend of $1.78 per share, and has a consensus analyst rating of Moderate Buy with an average target price of $206.83.

Nelson Capital Management LLC decreased its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 34.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CVX. Midwest Capital Advisors LLC purchased a new stake in Chevron during the 1st quarter valued at about $25,000. Core Wealth Advisors LLC acquired a new stake in Chevron in the 4th quarter valued at about $26,000. Phillip James Consulting Co. purchased a new position in Chevron in the 4th quarter worth approximately $26,000. Basso Capital Management L.P. purchased a new position in Chevron in the 4th quarter worth approximately $27,000. Finally, Karpus Management Inc. acquired a new position in shares of Chevron during the 4th quarter worth approximately $27,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Chevron

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

Chevron stock opened at $187.39 on Monday. The firm has a 50 day simple moving average of $181.54 and a 200-day simple moving average of $182.66. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The stock has a market cap of $373.21 billion, a price-to-earnings ratio of 32.48, a price-to-earnings-growth ratio of 0.66 and a beta of 0.50.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. During the same quarter in the previous year, the company earned $2.18 EPS. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts expect that Chevron Corporation will post 14.78 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 3.8%. Chevron's dividend payout ratio (DPR) is 123.40%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CVX. Tudor Pickering upgraded Chevron from a "hold" rating to a "buy" rating and set a $225.00 price target for the company in a research report on Thursday, April 9th. Weiss Ratings downgraded Chevron from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, June 2nd. The Goldman Sachs Group reissued a "buy" rating and set a $216.00 price objective on shares of Chevron in a research note on Wednesday, May 6th. Scotiabank upped their target price on Chevron from $168.00 to $187.00 and gave the company a "sector perform" rating in a report on Wednesday, April 22nd. Finally, BNP Paribas Exane raised Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 target price for the company in a research note on Friday, April 17th. Nineteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $206.83.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, the director owned 278,045 shares in the company, valued at $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is owned by corporate insiders.

Chevron Company Profile

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.

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