Chevron Co. (NYSE:CVX) Shares Acquired by Cullinan Associates Inc.

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Cullinan Associates Inc. grew its holdings in Chevron Co. (NYSE:CVX) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,241 shares of the oil and gas company’s stock after purchasing an additional 5,592 shares during the quarter. Chevron makes up approximately 1.2% of Cullinan Associates Inc.’s portfolio, making the stock its 15th largest holding. Cullinan Associates Inc.’s holdings in Chevron were worth $17,744,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Chevron by 3.5% in the second quarter. BlackRock Inc. now owns 131,522,440 shares of the oil and gas company’s stock valued at $16,366,651,000 after purchasing an additional 4,401,622 shares during the last quarter. Morgan Stanley grew its position in shares of Chevron by 7.9% in the second quarter. Morgan Stanley now owns 16,262,708 shares of the oil and gas company’s stock valued at $2,023,732,000 after purchasing an additional 1,184,133 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of Chevron by 2,073.6% in the second quarter. Nuveen Asset Management LLC now owns 14,886,232 shares of the oil and gas company’s stock valued at $1,852,443,000 after purchasing an additional 14,201,379 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of Chevron by 0.8% during the third quarter. Parametric Portfolio Associates LLC now owns 7,096,626 shares of the oil and gas company’s stock valued at $841,660,000 after buying an additional 58,570 shares during the period. Finally, California Public Employees Retirement System lifted its stake in shares of Chevron by 22.1% during the third quarter. California Public Employees Retirement System now owns 5,482,447 shares of the oil and gas company’s stock valued at $650,218,000 after buying an additional 990,819 shares during the period. Institutional investors and hedge funds own 65.47% of the company’s stock.

NYSE:CVX opened at $116.13 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.12 and a debt-to-equity ratio of 0.16. The company has a market cap of $219.91 billion, a P/E ratio of 14.08, a P/E/G ratio of 4.83 and a beta of 1.02. Chevron Co. has a fifty-two week low of $110.17 and a fifty-two week high of $127.34. The firm’s 50 day moving average is $118.53 and its two-hundred day moving average is $119.56.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.47 by ($0.11). The company had revenue of $36.12 billion for the quarter, compared to analysts’ expectations of $37.69 billion. Chevron had a return on equity of 8.89% and a net margin of 8.70%. The business’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.11 EPS. Research analysts forecast that Chevron Co. will post 6.28 earnings per share for the current fiscal year.

Several equities analysts recently issued reports on CVX shares. Citigroup downgraded shares of Chevron from a “buy” rating to a “neutral” rating in a research note on Monday, December 9th. Piper Jaffray Companies started coverage on shares of Chevron in a research note on Tuesday, November 26th. They set a “buy” rating and a $143.00 price objective on the stock. Cowen reduced their price objective on shares of Chevron from $140.00 to $134.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Berenberg Bank reissued a “hold” rating and set a $128.00 price objective on shares of Chevron in a research note on Thursday, December 12th. Finally, Bank of America downgraded shares of Chevron from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $137.26.

In other Chevron news, VP Rhonda J. Morris sold 7,800 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $119.68, for a total transaction of $933,504.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael K. Wirth sold 67,500 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $121.07, for a total transaction of $8,172,225.00. Following the transaction, the chief executive officer now directly owns 33,750 shares in the company, valued at approximately $4,086,112.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,300 shares of company stock worth $10,904,079. 0.31% of the stock is currently owned by insiders.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production 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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