Aull & Monroe Investment Management Corp Sells 950 Shares of Chevron Co. (NYSE:CVX)

Aull & Monroe Investment Management Corp trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 3.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,053 shares of the oil and gas company’s stock after selling 950 shares during the period. Chevron makes up about 2.2% of Aull & Monroe Investment Management Corp’s investment portfolio, making the stock its 13th largest holding. Aull & Monroe Investment Management Corp’s holdings in Chevron were worth $4,388,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. International Assets Investment Management LLC lifted its holdings in Chevron by 4.9% in the fourth quarter. International Assets Investment Management LLC now owns 21,470 shares of the oil and gas company’s stock valued at $3,202,000 after acquiring an additional 1,005 shares during the period. Tennessee Valley Asset Management Partners purchased a new position in shares of Chevron in the fourth quarter worth approximately $83,000. Beaumont Financial Advisors LLC grew its position in Chevron by 0.9% during the fourth quarter. Beaumont Financial Advisors LLC now owns 10,136 shares of the oil and gas company’s stock valued at $1,512,000 after buying an additional 93 shares during the period. Zhang Financial LLC increased its holdings in Chevron by 4.3% during the fourth quarter. Zhang Financial LLC now owns 3,441 shares of the oil and gas company’s stock valued at $513,000 after buying an additional 142 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in Chevron in the fourth quarter worth approximately $270,000. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CVX. Barclays cut their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Wells Fargo & Company upped their price target on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Wolfe Research started coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Scotiabank cut their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Finally, TD Cowen raised their target price on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Price Performance

Shares of CVX traded down $2.14 during mid-day trading on Tuesday, hitting $144.69. 7,434,568 shares of the stock were exchanged, compared to its average volume of 7,867,902. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The company has a market cap of $266.66 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 2.42 and a beta of 1.10. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The firm has a 50-day moving average of $153.62 and a two-hundred day moving average of $156.01.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the previous year, the company earned $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Chevron Co. will post 11.96 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.51%. Chevron’s payout ratio is currently 59.98%.

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.