Pullen Investment Management LLC Sells 1,048 Shares of Chevron Corporation $CVX

Pullen Investment Management LLC lowered its stake in shares of Chevron Corporation (NYSE:CVX) by 6.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,818 shares of the oil and gas company’s stock after selling 1,048 shares during the period. Chevron makes up 1.3% of Pullen Investment Management LLC’s portfolio, making the stock its 18th biggest position. Pullen Investment Management LLC’s holdings in Chevron were worth $2,122,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of CVX. Harvest Fund Management Co. Ltd lifted its holdings in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 122 shares in the last quarter. Elequin Capital LP bought a new position in shares of Chevron during the 1st quarter valued at about $31,000. IMG Wealth Management Inc. lifted its holdings in shares of Chevron by 52.3% during the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 91 shares in the last quarter. Cloud Capital Management LLC bought a new position in shares of Chevron during the 1st quarter valued at about $39,000. Finally, Investment Management Corp VA ADV lifted its holdings in shares of Chevron by 171.3% during the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 149 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CVX. Morgan Stanley began coverage on Chevron in a report on Monday, August 4th. They set an “overweight” rating and a $174.00 price objective on the stock. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. UBS Group boosted their target price on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Melius began coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price on the stock. Finally, Raymond James Financial restated an “outperform” rating and issued a $160.00 target price (down previously from $170.00) on shares of Chevron in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $165.25.

Chevron Stock Down 0.6%

NYSE:CVX opened at $155.63 on Friday. The firm has a market capitalization of $268.92 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 4.42 and a beta of 0.84. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The stock’s 50 day moving average price is $156.04 and its two-hundred day moving average price is $148.46. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business’s quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.55 EPS. Equities research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s payout ratio is 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.