Pullen Investment Management LLC Has $2.65 Million Holdings in Chevron Co. (NYSE:CVX)

Pullen Investment Management LLC decreased its holdings in Chevron Co. (NYSE:CVX) by 3.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,866 shares of the oil and gas company’s stock after selling 622 shares during the quarter. Chevron accounts for about 1.7% of Pullen Investment Management LLC’s portfolio, making the stock its 14th largest holding. Pullen Investment Management LLC’s holdings in Chevron were worth $2,654,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Capital & Planning LLC boosted its position in shares of Chevron by 15.2% during the 4th quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company’s stock worth $243,000 after acquiring an additional 222 shares in the last quarter. Eagle Capital Management LLC boosted its holdings in shares of Chevron by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock valued at $5,011,000 after purchasing an additional 242 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Chevron in the 4th quarter valued at $8,947,000. Allspring Global Investments Holdings LLC increased its stake in shares of Chevron by 18.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 263,872 shares of the oil and gas company’s stock valued at $38,712,000 after purchasing an additional 40,311 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Chevron by 12.3% during the 4th quarter. Van ECK Associates Corp now owns 718,848 shares of the oil and gas company’s stock worth $104,118,000 after buying an additional 78,602 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research analyst reports. Redburn Atlantic reissued a “sell” rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. HSBC cut Chevron from a “buy” rating to a “hold” rating and lowered their price target for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Piper Sandler lowered their price target on Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Wells Fargo & Company lowered their price target on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Finally, Mizuho lowered their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $160.24.

Chevron Price Performance

Shares of CVX opened at $145.74 on Friday. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The business has a 50-day simple moving average of $138.53 and a two-hundred day simple moving average of $149.20. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $254.52 billion, a PE ratio of 14.99, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.93 earnings per share. Analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.69%. Chevron’s payout ratio is 78.17%.

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.