Nicholas Hoffman & Company LLC. Has $3.56 Million Stake in Chevron Corporation (NYSE:CVX)

Nicholas Hoffman & Company LLC. boosted its position in shares of Chevron Corporation (NYSE:CVX) by 21.8% in the first quarter, Holdings Channel reports. The fund owned 21,298 shares of the oil and gas company’s stock after acquiring an additional 3,811 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Chevron were worth $3,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVX. GAMMA Investing LLC lifted its position in Chevron by 21,191.5% during the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock worth $904,746,000 after acquiring an additional 5,382,847 shares during the last quarter. Capital World Investors raised its position in shares of Chevron by 11.4% during the fourth quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company’s stock valued at $2,039,288,000 after buying an additional 1,440,808 shares during the last quarter. Northern Trust Corp raised its position in shares of Chevron by 7.3% during the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock valued at $2,965,135,000 after buying an additional 1,394,091 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Chevron by 27.3% during the fourth quarter. Janus Henderson Group PLC now owns 3,897,183 shares of the oil and gas company’s stock valued at $564,503,000 after buying an additional 835,990 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of Chevron by 138.2% during the first quarter. Jennison Associates LLC now owns 1,189,354 shares of the oil and gas company’s stock valued at $198,967,000 after buying an additional 690,038 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $152.80 on Wednesday. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average of $147.44 and a 200-day moving average of $148.68. The firm has a market cap of $266.85 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 2.30 and a beta of 0.87.

Chevron (NYSE:CVX) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $44.59 billion. During the same period in the prior year, the firm earned $2.55 earnings per share. Chevron’s revenue was down 12.4% compared to the same quarter last year. On average, equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CVX shares. Wells Fargo & Company reaffirmed an “overweight” rating and set a $178.00 price objective on shares of Chevron in a research report on Friday. Mizuho cut their price objective on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Piper Sandler reaffirmed an “overweight” rating on shares of Chevron in a research report on Tuesday, July 15th. Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a research report on Friday. Finally, Redburn Atlantic reissued a “sell” rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $164.11.

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.