Chevron Co. (NYSE:CVX) Shares Bought by Cullen Investment Group LTD.

Cullen Investment Group LTD. raised its stake in Chevron Co. (NYSE:CVX) by 22.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,985 shares of the oil and gas company’s stock after buying an additional 6,257 shares during the quarter. Cullen Investment Group LTD.’s holdings in Chevron were worth $5,430,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CVX. Norges Bank purchased a new stake in Chevron during the fourth quarter worth about $2,902,007,000. Berkshire Hathaway Inc increased its stake in Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after purchasing an additional 15,845,037 shares during the period. Capital World Investors increased its stake in Chevron by 43.5% during the fourth quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock worth $2,314,070,000 after purchasing an additional 4,700,289 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Chevron by 73,888.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock worth $686,554,000 after purchasing an additional 4,596,584 shares during the period. Finally, International Assets Investment Management LLC increased its stake in Chevron by 15,548.2% during the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after purchasing an additional 3,181,946 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CVX. Truist Financial upped their target price on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Mizuho upped their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Raymond James upped their target price on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Finally, Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.95.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the transaction, the vice president now owns 477 shares in the company, valued at $76,429.71. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the transaction, the vice president now owns 477 shares in the company, valued at $76,429.71. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $165.24, for a total value of $421,196.76. Following the completion of the transaction, the director now owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,546 shares of company stock valued at $3,176,223. 0.20% of the stock is owned by company insiders.

Chevron Price Performance

Shares of NYSE CVX opened at $153.33 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The stock has a fifty day moving average price of $159.43 and a 200 day moving average price of $154.04. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The company has a market cap of $282.58 billion, a PE ratio of 14.11, a P/E/G ratio of 2.28 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same period last year, the company earned $3.55 earnings per share. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. Sell-side analysts forecast that Chevron Co. will post 13.45 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

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.