Foundations Investment Advisors LLC Boosts Position in Chevron Corporation $CVX

Foundations Investment Advisors LLC raised its holdings in shares of Chevron Corporation (NYSE:CVX) by 5.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,610 shares of the oil and gas company’s stock after acquiring an additional 3,504 shares during the period. Foundations Investment Advisors LLC’s holdings in Chevron were worth $8,965,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd boosted its holdings in Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 122 shares during the last quarter. Elequin Capital LP acquired a new position in shares of Chevron in the 1st quarter valued at about $31,000. Quaker Wealth Management LLC boosted its stake in shares of Chevron by 197.7% in the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after buying an additional 439 shares during the last quarter. Investment Management Corp VA ADV grew its holdings in Chevron by 171.3% during the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 149 shares during the period. Finally, IMG Wealth Management Inc. raised its position in Chevron by 52.3% during the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 91 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of Chevron 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 owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction dated 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 trade represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

CVX has been the subject of a number of analyst reports. Barclays decreased their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Morgan Stanley boosted their target price on shares of Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday. Melius Research began coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Evercore ISI reiterated an “outperform” rating and issued a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. Finally, Piper Sandler lowered their target price on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Chevron currently has an average rating of “Hold” and a consensus price target of $166.55.

Chevron Stock Up 1.3%

Shares of NYSE CVX opened at $157.61 on Friday. The firm has a market cap of $317.35 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83. The company’s 50-day simple moving average is $155.26 and its 200-day simple moving average is $150.30. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. During the same period last year, the company posted $2.48 EPS. Chevron’s quarterly revenue was down 1.9% compared to the same quarter last year. Equities analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is 96.20%.

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.