Paulson Wealth Management Inc. Has $754,000 Position in Chevron Co. (NYSE:CVX)

Paulson Wealth Management Inc. reduced its holdings in Chevron Co. (NYSE:CVX) by 1.6% in the second quarter, HoldingsChannel reports. The firm owned 4,821 shares of the oil and gas company’s stock after selling 78 shares during the period. Paulson Wealth Management Inc.’s holdings in Chevron were worth $754,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Chevron during the fourth quarter worth approximately $2,902,007,000. Berkshire Hathaway Inc raised its holdings in shares of Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after acquiring an additional 15,845,037 shares during the last quarter. Capital World Investors lifted its position in Chevron by 43.5% in the 4th quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock valued at $2,314,070,000 after acquiring an additional 4,700,289 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Chevron by 73,888.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock valued at $686,554,000 after purchasing an additional 4,596,584 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Chevron by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock worth $3,886,821,000 after purchasing an additional 1,999,332 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent analyst reports. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Truist Financial cut their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Royal Bank of Canada lowered their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Wells Fargo & Company increased their target price on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Finally, Wolfe Research began coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Stock Up 0.6 %

Chevron stock traded up $0.93 during midday trading on Monday, reaching $148.55. The company’s stock had a trading volume of 5,778,453 shares, compared to its average volume of 7,802,062. The stock has a market capitalization of $273.77 billion, a P/E ratio of 13.67, a PEG ratio of 2.46 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock’s 50-day simple moving average is $152.97 and its 200-day simple moving average is $155.83. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period last year, the firm earned $3.08 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, sell-side analysts expect that Chevron Co. will post 11.96 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be paid a $1.63 dividend. The ex-dividend date is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.39%. Chevron’s payout ratio is currently 59.98%.

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.