Chevron Corporation (NYSE:CVX) Shares Bought by Nicholas Hoffman & Company LLC.

Key Points

• Nicholas Hoffman & Company LLC increased its holdings in Chevron Corporation by 21.8% in the first quarter, owning a total of 21,298 shares worth approximately $3.56 million.
• Chevron recently reported $1.77 earnings per share, exceeding analysts' expectations, although its revenue decreased 12.4% year-over-year to $44.82 billion.
• The company also announced a quarterly dividend of $1.71, with a yield of 4.5%, set to be paid on September 10, indicating a strong commitment to returning value to shareholders.

Nicholas Hoffman & Company LLC. raised its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 21.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,298 shares of the oil and gas company's stock after buying an additional 3,811 shares during the quarter. Nicholas Hoffman & Company LLC.'s holdings in Chevron were worth $3,563,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Sage Capital Advisors llc lifted its position in Chevron by 2.2% during the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock worth $7,097,000 after acquiring an additional 919 shares during the period. CCG Wealth Management LLC lifted its holdings in shares of Chevron by 2.3% during the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock worth $1,060,000 after purchasing an additional 145 shares during the period. Ignite Planners LLC boosted its position in Chevron by 14.1% in the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock valued at $2,060,000 after buying an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. increased its holdings in Chevron by 9.1% in the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock worth $993,000 after buying an additional 495 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its position in Chevron by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock worth $24,075,000 after buying an additional 675 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CVX shares. Mizuho cut their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Piper Sandler reiterated an "overweight" rating on shares of Chevron in a research note on Tuesday, July 15th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Chevron in a report on Friday, July 18th. Raymond James Financial reissued an "outperform" rating on shares of Chevron in a report on Friday, August 1st. Finally, TD Cowen raised their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research note on Monday. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Chevron has an average rating of "Hold" and an average target price of $164.11.

Chevron Trading Down 0.1%

NYSE:CVX traded down $0.22 during trading hours on Wednesday, reaching $152.82. 7,838,780 shares of the stock were exchanged, compared to its average volume of 12,566,086. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average of $147.44 and a two-hundred day moving average of $148.68. The company has a market capitalization of $266.89 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 2.29 and a beta of 0.87.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data 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 9.80%. The business had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same quarter last year, the firm posted $2.55 earnings per share. The business's revenue for the quarter was down 12.4% compared to the same quarter last year. On average, equities analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. Chevron's payout ratio is currently 88.03%.

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.