Chevron Co. (NYSE:CVX) Shares Purchased by Foundation Resource Management Inc.

Foundation Resource Management Inc. raised its stake in Chevron Co. (NYSE:CVX) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 241,177 shares of the oil and gas company’s stock after purchasing an additional 2,556 shares during the period. Chevron accounts for about 6.0% of Foundation Resource Management Inc.’s holdings, making the stock its 5th biggest position. Foundation Resource Management Inc.’s holdings in Chevron were worth $38,043,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Ellenbecker Investment Group boosted its position in shares of Chevron by 1.5% during the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after buying an additional 65 shares during the period. Octavia Wealth Advisors LLC lifted its position in shares of Chevron by 1.3% in the fourth quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock worth $784,000 after purchasing an additional 68 shares in the last quarter. Investment Partners LTD. boosted its holdings in shares of Chevron by 0.8% during the fourth quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock worth $1,212,000 after purchasing an additional 68 shares during the period. Certified Advisory Corp grew its position in Chevron by 0.4% during the fourth quarter. Certified Advisory Corp now owns 16,120 shares of the oil and gas company’s stock valued at $2,404,000 after purchasing an additional 68 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC increased its stake in Chevron by 2.1% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 3,415 shares of the oil and gas company’s stock valued at $509,000 after buying an additional 69 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the sale, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the sale, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The disclosure for this sale can be found here. Insiders sold 19,546 shares of company stock valued at $3,176,223 over the last quarter. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Chevron stock traded down $1.36 during mid-day trading on Friday, reaching $155.28. The company had a trading volume of 21,292,090 shares, compared to its average volume of 6,185,036. The company has a 50 day moving average of $159.25 and a 200-day moving average of $154.13. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The firm has a market cap of $286.18 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 2.33 and a beta of 1.12.

Chevron (NYSE:CVX) last released its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the business earned $3.55 earnings per share. On average, sell-side analysts expect that Chevron Co. will post 13.45 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were paid a $1.63 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.20%. Chevron’s payout ratio is currently 59.98%.

Analyst Ratings Changes

CVX has been the topic of several research analyst reports. TD Cowen boosted their price target on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Piper Sandler raised their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Finally, Barclays began coverage on shares of Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $186.95.

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.