Chevron Corporation $CVX Shares Sold by Aull & Monroe Investment Management Corp

Key Points

• Aull & Monroe Investment Management Corp reduced its Chevron shares by 8.8%, bringing its total holdings to 23,695 shares valued at approximately $3.39 million, making Chevron its 17th largest holding.
• Chevron reported quarterly earnings of $1.77 per share, exceeding expectations of $1.58, despite seeing a 12.4% decline in revenue compared to the same quarter last year.
• Chevron declared a quarterly dividend of $1.71 per share with a dividend yield of 4.5%, maintaining a high payout ratio of 88.03%.

Aull & Monroe Investment Management Corp trimmed its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 8.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,695 shares of the oil and gas company's stock after selling 2,280 shares during the period. Chevron makes up about 1.8% of Aull & Monroe Investment Management Corp's holdings, making the stock its 17th biggest holding. Aull & Monroe Investment Management Corp's holdings in Chevron were worth $3,393,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. CCG Wealth Management LLC increased its holdings in Chevron by 2.3% in the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after purchasing an additional 145 shares in the last quarter. Ignite Planners LLC increased its holdings in Chevron by 14.1% in the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock valued at $2,060,000 after purchasing an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. increased its holdings in Chevron by 9.1% in the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock valued at $993,000 after purchasing an additional 495 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Chevron by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock valued at $24,075,000 after purchasing an additional 675 shares in the last quarter. Finally, Capital Advisors Inc. OK increased its holdings in Chevron by 0.3% in the 1st quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company's stock valued at $95,231,000 after purchasing an additional 1,755 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of CVX stock opened at $153.12 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company's 50-day simple moving average is $156.03 and its 200-day simple moving average is $148.02. The stock has a market capitalization of $264.58 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 2.01 and a beta of 0.84.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion for the quarter, compared to analysts' expectations of $44.59 billion. During the same quarter last year, the company posted $2.55 earnings per share. The company's quarterly revenue was down 12.4% compared to the same quarter last year. Equities analysts anticipate that Chevron Corporation 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 Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. Chevron's dividend payout ratio (DPR) is presently 88.03%.

Insider Activity

In other news, Director John B. Hess sold 375,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the firm's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Raymond James Financial reissued an "outperform" rating and issued a $160.00 price objective (down from $170.00) on shares of Chevron in a research report on Friday. Jefferies Financial Group reissued a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Melius Research assumed coverage on shares of Chevron in a research report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price objective for the company. Morgan Stanley assumed coverage on shares of Chevron in a research report on Monday, August 4th. They issued an "overweight" rating and a $174.00 price objective for the company. Finally, TD Cowen upped their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research report on Monday, August 4th. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $165.25.

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.

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