Paulson Wealth Management Inc. Has $773,000 Stock Holdings in Chevron Co. (NYSE:CVX)

Paulson Wealth Management Inc. grew its holdings in Chevron Co. (NYSE:CVX) by 26.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,899 shares of the oil and gas company’s stock after purchasing an additional 1,010 shares during the quarter. Paulson Wealth Management Inc.’s holdings in Chevron were worth $773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new stake in Chevron during the 3rd quarter worth approximately $293,000. Wellington Management Group LLP increased its holdings in Chevron by 13.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,630,433 shares of the oil and gas company’s stock worth $612,164,000 after purchasing an additional 423,863 shares in the last quarter. Fragasso Group Inc. bought a new stake in Chevron during the 3rd quarter worth approximately $210,000. VisionPoint Advisory Group LLC increased its holdings in Chevron by 46.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 489 shares of the oil and gas company’s stock worth $82,000 after purchasing an additional 154 shares in the last quarter. Finally, Financial Insights Inc. bought a new stake in Chevron during the 3rd quarter worth approximately $484,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVX has been the subject of a number of recent research reports. Raymond James boosted their price objective on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Piper Sandler upped their target price on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Wells Fargo & Company upped their target price on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. Finally, Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $186.95.

Chevron Stock Performance

Shares of NYSE:CVX traded up $0.31 during trading on Thursday, hitting $155.44. 5,221,508 shares of the company were exchanged, compared to its average volume of 7,919,359. The company has a market cap of $286.47 billion, a PE ratio of 14.34, a P/E/G ratio of 2.34 and a beta of 1.10. The stock has a 50 day moving average of $157.96 and a 200 day moving average of $155.03. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.55 earnings per share. As a group, equities research analysts predict that Chevron Co. will post 13.18 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were given a $1.63 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.19%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insider Buying and Selling

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the sale, the director now owns 7,647 shares in the company, valued at $1,231,167. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the sale, the director now owns 7,647 shares in the company, valued at $1,231,167. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,746 shares of company stock worth $2,727,971. Corporate insiders own 0.20% of the company’s stock.

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.