Foundation Resource Management Inc. decreased its stake in shares of Chevron Co. (NYSE:CVX) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 149,287 shares of the oil and gas company’s stock after selling 2,427 shares during the period. Chevron accounts for 4.1% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 6th biggest position. Foundation Resource Management Inc.’s holdings in Chevron were worth $13,321,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in CVX. Sailer Financial LLC acquired a new position in Chevron in the fourth quarter valued at $25,000. Filbrandt Wealth Management LLC acquired a new position in Chevron in the fourth quarter valued at $25,000. Corbenic Partners LLC boosted its holdings in Chevron by 276.0% in the first quarter. Corbenic Partners LLC now owns 361 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 265 shares during the last quarter. Advocacy Wealth Management Services LLC boosted its holdings in Chevron by 84.2% in the first quarter. Advocacy Wealth Management Services LLC now owns 396 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. Finally, HighMark Wealth Management LLC acquired a new position in Chevron in the fourth quarter valued at $58,000. 64.86% of the stock is owned by institutional investors.
A number of research analysts recently weighed in on CVX shares. ValuEngine cut Chevron from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Goldman Sachs Group lowered Chevron from a “conviction-buy” rating to a “buy” rating in a research report on Monday, May 4th. Wells Fargo & Co raised their price objective on Chevron from $107.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Bank of America lowered Chevron from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 9th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $92.00 price objective on shares of Chevron in a research report on Friday, May 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $112.55.
Shares of NYSE CVX traded down $0.29 during mid-day trading on Wednesday, hitting $86.12. 3,444,648 shares of the stock were exchanged, compared to its average volume of 8,564,431. Chevron Co. has a twelve month low of $51.60 and a twelve month high of $127.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.78 and a current ratio of 1.01. The stock’s fifty day simple moving average is $92.00 and its two-hundred day simple moving average is $96.31. The company has a market cap of $163.02 billion, a P/E ratio of 42.13, a PEG ratio of 65.61 and a beta of 1.29.
Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $1.29. The firm had revenue of $31.50 billion for the quarter, compared to analysts’ expectations of $30.46 billion. Chevron had a net margin of 2.71% and a return on equity of 8.28%. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period last year, the firm earned $1.47 earnings per share. As a group, equities research analysts predict that Chevron Co. will post 0.27 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were given a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date of this dividend was Monday, May 18th. Chevron’s dividend payout ratio (DPR) is presently 82.30%.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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