Cullinan Associates Inc. Sells 2,591 Shares of Chevron Corporation (NYSE:CVX)

Cullinan Associates Inc. cut its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 1.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,426 shares of the oil and gas company's stock after selling 2,591 shares during the quarter. Chevron makes up 1.6% of Cullinan Associates Inc.'s portfolio, making the stock its 15th largest position. Cullinan Associates Inc.'s holdings in Chevron were worth $22,990,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CVX. IMG Wealth Management Inc. bought a new position in shares of Chevron during the fourth quarter worth approximately $25,000. Life Planning Partners Inc bought a new position in shares of Chevron during the fourth quarter worth approximately $25,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron during the fourth quarter worth approximately $29,000. 10Elms LLP bought a new position in shares of Chevron during the fourth quarter worth approximately $29,000. Finally, Fairway Wealth LLC boosted its position in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after acquiring an additional 88 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Trading Down 1.8%

NYSE CVX traded down $2.63 during mid-day trading on Monday, reaching $146.92. 10,493,844 shares of the stock were exchanged, compared to its average volume of 8,240,474. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The stock has a market cap of $256.58 billion, a P/E ratio of 16.79, a P/E/G ratio of 2.63 and a beta of 0.83. The stock has a 50 day simple moving average of $139.37 and a 200-day simple moving average of $148.58.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.93 earnings per share. On average, analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.66%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's payout ratio is presently 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the topic of several analyst reports. UBS Group reduced their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Mizuho cut their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Redburn Atlantic reiterated 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. Piper Sandler cut their price target on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Finally, HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and cut their price target for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $160.24.

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.