Pullen Investment Management LLC Raises Position in Chevron Co. (NYSE:CVX)

Pullen Investment Management LLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,667 shares of the oil and gas company’s stock after purchasing an additional 266 shares during the period. Chevron comprises about 1.9% of Pullen Investment Management LLC’s investment portfolio, making the stock its 10th biggest holding. Pullen Investment Management LLC’s holdings in Chevron were worth $2,602,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Eagle Capital Management LLC lifted its position in shares of Chevron by 0.5% during the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after purchasing an additional 163 shares during the last quarter. Marietta Wealth Management LLC raised its stake in Chevron by 10.9% during the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after acquiring an additional 3,965 shares during the period. Leo Wealth LLC raised its stake in Chevron by 19.6% during the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after acquiring an additional 1,354 shares during the period. KCM Investment Advisors LLC raised its stake in Chevron by 2.5% during the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after acquiring an additional 8,168 shares during the period. Finally, Hosking Partners LLP acquired a new stake in Chevron during the first quarter worth about $4,924,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of several research reports. Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 price objective on shares of Chevron in a research note on Tuesday, October 8th. Truist Financial dropped their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, Scotiabank dropped their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Chevron Price Performance

NYSE CVX opened at $150.81 on Monday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. 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 firm has a market capitalization of $277.94 billion, a PE ratio of 13.87, a P/E/G ratio of 3.30 and a beta of 1.09. The company’s 50 day simple moving average is $146.59 and its 200 day simple moving average is $153.23.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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). The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.08 EPS. As a group, equities research analysts forecast that Chevron Co. will post 10.86 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is 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.