Chevron Co. (NYSE:CVX) Stock Position Lessened by Foundation Resource Management Inc.

Foundation Resource Management Inc. lessened its holdings in Chevron Co. (NYSE:CVX) by 0.2% during the 3rd quarter, Holdings Channel reports. The firm owned 240,300 shares of the oil and gas company’s stock after selling 505 shares during the quarter. Chevron comprises 5.5% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 5th biggest holding. Foundation Resource Management Inc.’s holdings in Chevron were worth $35,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the business. Fiduciary Financial Group LLC lifted its stake in shares of Chevron by 70.9% during the third quarter. Fiduciary Financial Group LLC now owns 4,656 shares of the oil and gas company’s stock valued at $693,000 after buying an additional 1,931 shares during the period. MADDEN SECURITIES Corp lifted its stake in shares of Chevron by 4.3% during the third quarter. MADDEN SECURITIES Corp now owns 33,067 shares of the oil and gas company’s stock valued at $4,870,000 after buying an additional 1,352 shares during the period. Juncture Wealth Strategies LLC lifted its stake in shares of Chevron by 42.8% during the third quarter. Juncture Wealth Strategies LLC now owns 2,503 shares of the oil and gas company’s stock valued at $369,000 after buying an additional 750 shares during the period. Walker Financial Services Inc. lifted its stake in shares of Chevron by 11.6% during the third quarter. Walker Financial Services Inc. now owns 2,053 shares of the oil and gas company’s stock valued at $302,000 after buying an additional 213 shares during the period. Finally, Ferguson Shapiro LLC lifted its stake in shares of Chevron by 9.9% during the third quarter. Ferguson Shapiro LLC now owns 2,972 shares of the oil and gas company’s stock valued at $438,000 after buying an additional 268 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX opened at $151.42 on Friday. The company has a fifty day simple moving average of $145.46 and a 200 day simple moving average of $153.96. The firm has a market cap of $276.94 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 2.70 and a beta of 1.09. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $170.17. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 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 company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter last year, the company earned $3.08 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts expect that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.31%. Chevron’s dividend payout ratio (DPR) is 64.55%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CVX. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 price target on shares of Chevron in a research report on Tuesday. Wells Fargo & Company dropped their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Barclays dropped their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $177.59.

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.