Cullen Investment Group LTD. Takes $4.14 Million Position in Chevron Co. (NYSE:CVX)

Cullen Investment Group LTD. acquired a new stake in Chevron Co. (NYSE:CVX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 27,728 shares of the oil and gas company’s stock, valued at approximately $4,136,000.

Several other hedge funds also recently modified their holdings of the stock. Windsor Advisory Group LLC grew its holdings in Chevron by 24.0% during the third quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock worth $627,000 after purchasing an additional 720 shares during the period. Renaissance Investment Group LLC grew its holdings in Chevron by 12.7% during the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after purchasing an additional 697 shares during the period. Altrius Capital Management Inc grew its holdings in Chevron by 2.1% during the third quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock worth $3,597,000 after purchasing an additional 434 shares during the period. Camelot Portfolios LLC bought a new position in Chevron during the fourth quarter worth about $254,000. Finally, Strategic Financial Concepts LLC grew its holdings in Chevron by 9.0% during the third quarter. Strategic Financial Concepts LLC now owns 5,775 shares of the oil and gas company’s stock worth $974,000 after purchasing an additional 476 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE:CVX opened at $157.59 on Tuesday. The company’s 50 day simple moving average is $155.03 and its 200 day simple moving average is $151.92. The stock has a market capitalization of $292.69 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 2.40 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $172.54.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The business had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same period last year, the firm posted $4.09 earnings per share. As a group, research analysts predict that Chevron Co. will post 13.24 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is presently 57.39%.

Insiders Place Their Bets

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Raymond James raised their price objective on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Royal Bank of Canada raised their price objective on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Finally, Barclays started coverage on shares of Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target for the company. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $183.55.

Chevron 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.