Founders Capital Management Purchases 242 Shares of Chevron Corporation $CVX

Founders Capital Management boosted its position in shares of Chevron Corporation (NYSE:CVX) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,470 shares of the oil and gas company’s stock after purchasing an additional 242 shares during the period. Chevron comprises 3.0% of Founders Capital Management’s holdings, making the stock its 13th largest position. Founders Capital Management’s holdings in Chevron were worth $5,079,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd raised its holdings in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 122 shares during the period. Elequin Capital LP bought a new position in shares of Chevron during the first quarter worth approximately $31,000. IFS Advisors LLC increased its holdings in shares of Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 116 shares during the period. Cloud Capital Management LLC bought a new position in Chevron in the first quarter valued at approximately $39,000. Finally, Investment Management Corp VA ADV increased its stake in Chevron by 171.3% in the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 149 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Bank of America lifted their price target on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Morgan Stanley began coverage on shares of Chevron in a report on Monday, August 4th. They set an “overweight” rating and a $174.00 price target on the stock. UBS Group boosted their target price on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $165.05.

Chevron Stock Performance

Shares of CVX stock opened at $154.64 on Thursday. The stock has a market capitalization of $267.21 billion, a P/E ratio of 19.90, a PEG ratio of 1.97 and a beta of 0.84. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The firm’s 50 day moving average is $156.31 and its 200 day moving average is $149.17. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. Chevron’s revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.55 EPS. On average, sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the sale, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

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.