First Foundation Advisors Decreases Stock Holdings in Chevron Co. (NYSE:CVX)

First Foundation Advisors lowered its stake in shares of Chevron Co. (NYSE:CVX) by 63.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 35,240 shares of the oil and gas company’s stock after selling 60,092 shares during the period. First Foundation Advisors’ holdings in Chevron were worth $5,104,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Arete Wealth Advisors LLC bought a new stake in shares of Chevron in the 3rd quarter worth about $2,370,000. Executive Wealth Management LLC acquired a new stake in Chevron during the 3rd quarter valued at approximately $226,000. Empire Financial Management Company LLC lifted its stake in shares of Chevron by 0.5% in the 3rd quarter. Empire Financial Management Company LLC now owns 20,881 shares of the oil and gas company’s stock valued at $3,075,000 after purchasing an additional 105 shares during the period. Soltis Investment Advisors LLC lifted its stake in shares of Chevron by 76.7% in the 3rd quarter. Soltis Investment Advisors LLC now owns 70,756 shares of the oil and gas company’s stock valued at $10,420,000 after purchasing an additional 30,718 shares during the period. Finally, Second Line Capital LLC increased its holdings in Chevron by 77.7% in the 3rd quarter. Second Line Capital LLC now owns 30,015 shares of the oil and gas company’s stock worth $4,420,000 after acquiring an additional 13,126 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 2.8 %

NYSE CVX opened at $141.91 on Thursday. The company has a market capitalization of $249.85 billion, a PE ratio of 14.60, a P/E/G ratio of 1.46 and a beta of 0.93. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $133.88 and a 12 month high of $168.96. The stock has a 50-day simple moving average of $155.99 and a 200 day simple moving average of $153.96.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the company posted $3.45 earnings per share. Research analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.82%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s payout ratio is presently 70.37%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVX. Piper Sandler dropped their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. UBS Group dropped their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday. Royal Bank of Canada restated an “outperform” rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Barclays lowered their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, Truist Financial reduced their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $173.53.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.20% of the company’s stock.

Chevron 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.