Chevron Co. (NYSE:CVX) is Cullinan Associates Inc.’s 9th Largest Position

Cullinan Associates Inc. grew its position in shares of Chevron Co. (NYSE:CVXGet Rating) by 38.3% in the second quarter, Holdings Channel reports. The institutional investor owned 198,265 shares of the oil and gas company’s stock after buying an additional 54,937 shares during the period. Chevron accounts for 1.8% of Cullinan Associates Inc.’s holdings, making the stock its 9th biggest holding. Cullinan Associates Inc.’s holdings in Chevron were worth $28,705,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Old Port Advisors raised its position in Chevron by 16.9% during the 2nd quarter. Old Port Advisors now owns 17,963 shares of the oil and gas company’s stock worth $2,563,000 after buying an additional 2,593 shares during the last quarter. Pure Financial Advisors LLC raised its position in Chevron by 19.1% during the 2nd quarter. Pure Financial Advisors LLC now owns 5,703 shares of the oil and gas company’s stock worth $826,000 after buying an additional 915 shares during the last quarter. My Personal CFO LLC purchased a new position in Chevron during the 2nd quarter worth $4,741,000. Wealth Alliance Advisory Group LLC raised its position in Chevron by 4.3% during the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 18,425 shares of the oil and gas company’s stock worth $2,668,000 after buying an additional 766 shares during the last quarter. Finally, City Holding Co. increased its holdings in shares of Chevron by 1.6% in the 2nd quarter. City Holding Co. now owns 37,347 shares of the oil and gas company’s stock valued at $5,407,000 after purchasing an additional 588 shares in the last quarter. Hedge funds and other institutional investors own 69.30% of the company’s stock.

Insiders Place Their Bets

In related news, Director Wanda M. Austin sold 11,432 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $161.45, for a total value of $1,845,696.40. Following the sale, the director now directly owns 3,560 shares of the company’s stock, valued at $574,762. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Wanda M. Austin sold 11,432 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $161.45, for a total value of $1,845,696.40. Following the sale, the director now directly owns 3,560 shares of the company’s stock, valued at $574,762. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James William Johnson sold 85,300 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $164.01, for a total transaction of $13,990,053.00. The disclosure for this sale can be found here. Insiders have sold 141,732 shares of company stock valued at $23,024,499 in the last ninety days. Insiders own 0.32% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $156.45 on Monday. Chevron Co. has a 12-month low of $93.31 and a 12-month high of $182.40. The stock has a market capitalization of $307.39 billion, a P/E ratio of 10.44, a P/E/G ratio of 0.60 and a beta of 1.15. The firm’s 50-day moving average is $154.36 and its two-hundred day moving average is $160.41. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.31 and a quick ratio of 1.11.

Chevron (NYSE:CVXGet Rating) last released its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $1.16. Chevron had a net margin of 13.45% and a return on equity of 19.73%. The company had revenue of $68.76 billion for the quarter, compared to analysts’ expectations of $57.69 billion. During the same period last year, the company earned $1.71 EPS. The firm’s revenue for the quarter was up 82.9% compared to the same quarter last year. Equities analysts predict that Chevron Co. will post 18.4 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were paid a dividend of $1.42 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $5.68 annualized dividend and a dividend yield of 3.63%. Chevron’s dividend payout ratio is currently 37.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CVX shares. Morgan Stanley increased their price target on shares of Chevron from $187.00 to $193.00 and gave the company an “equal weight” rating in a report on Tuesday, September 6th. Piper Sandler increased their price target on shares of Chevron from $189.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, September 12th. Wells Fargo & Company increased their price target on shares of Chevron from $181.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, August 1st. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and cut their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 20th. Finally, Bank of America increased their price target on shares of Chevron from $178.00 to $180.00 and gave the company a “buy” rating in a report on Monday, August 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average price target of $169.20.

About Chevron

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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