Nicholson Wealth Management Group LLC Purchases 138 Shares of Chevron Co. (NYSE:CVX)

Nicholson Wealth Management Group LLC raised its position in shares of Chevron Co. (NYSE:CVX) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,799 shares of the oil and gas company’s stock after acquiring an additional 138 shares during the period. Nicholson Wealth Management Group LLC’s holdings in Chevron were worth $405,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CVX. Allspring Global Investments Holdings LLC grew its holdings in shares of Chevron by 14.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 223,561 shares of the oil and gas company’s stock worth $32,924,000 after purchasing an additional 27,483 shares during the last quarter. Plan Group Financial LLC grew its holdings in shares of Chevron by 25.8% in the third quarter. Plan Group Financial LLC now owns 8,530 shares of the oil and gas company’s stock worth $1,256,000 after purchasing an additional 1,747 shares during the last quarter. Meadow Creek Wealth Advisors LLC grew its holdings in shares of Chevron by 8.1% in the third quarter. Meadow Creek Wealth Advisors LLC now owns 5,632 shares of the oil and gas company’s stock worth $829,000 after purchasing an additional 424 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Chevron by 27.5% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 107,341 shares of the oil and gas company’s stock worth $15,808,000 after purchasing an additional 23,136 shares during the last quarter. Finally, Greenleaf Trust grew its holdings in shares of Chevron by 3.1% in the third quarter. Greenleaf Trust now owns 60,285 shares of the oil and gas company’s stock worth $8,878,000 after purchasing an additional 1,830 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

Chevron Stock Performance

Shares of Chevron stock opened at $158.89 on Friday. The firm has a market capitalization of $285.53 billion, a P/E ratio of 16.35, a PEG ratio of 1.44 and a beta of 1.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average price of $151.91 and a 200 day moving average price of $150.91. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 previous year, the business earned $3.45 earnings per share. Sell-side analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.71 dividend. 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 4.31%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Analysts Set New Price Targets

A number of analysts recently weighed in on CVX shares. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Tuesday, November 5th. Barclays lowered their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Truist Financial lowered 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. Finally, Piper Sandler lowered their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

About Chevron

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.