Foundation research

Chevron Co. (NYSE: CVX) is the 4th largest position of Foundation Resource Management Inc.


Foundation Resource Management Inc. increased its holdings of Chevron Co. (NYSE: CLCGet a rating) by 0.3% in the 1st quarter, according to its latest communication to the SEC. The fund held 232,462 shares of the oil and gas company after buying an additional 718 shares during the period. Chevron represents approximately 5.8% of Foundation Resource Management Inc.’s holdings, making it its 4th largest position. Foundation Resource Management Inc.’s holdings in Chevron were worth $37,852,000 when it last filed with the SEC.

Several other hedge funds have also increased or reduced their holdings in CVX. Advocacy Wealth Management Services LLC increased its position in Chevron by 30.7% during the first quarter. Advocacy Wealth Management Services LLC now owns 294 shares of the oil and gas company worth $48,000 after acquiring 69 additional shares in the last quarter. Evanson Asset Management LLC increased its position in Chevron by 0.4% during the first quarter. Evanson Asset Management LLC now owns 16,341 shares of the oil and gas company worth $2,661,000 after acquiring 70 additional shares in the last quarter. Red Spruce Capital LLC increased its position in Chevron by 1.0% during the first quarter. Red Spruce Capital LLC now owns 7,213 shares of the oil and gas company worth $1,174,000 after acquiring 71 additional shares in the last quarter. Roble Belko & Company Inc increased its position in Chevron by 26.6% during the fourth quarter. Roble Belko & Company Inc now owns 352 shares of the oil and gas company worth $41,000 after acquiring 74 more shares in the last quarter. Finally, Altavista Wealth Management Inc. increased its position in Chevron by 0.8% during the fourth quarter. Altavista Wealth Management Inc. now owns 9,265 shares of the oil and gas company worth $1,087,000 after acquiring 75 additional shares in the last quarter. Hedge funds and other institutional investors own 65.89% of the company’s shares.

Shares of CLC action opened at $142.43 on Friday. The company has a debt ratio of 0.20, a quick ratio of 1.22 and a current ratio of 1.43. The stock has a market capitalization of $279.85 billion, a P/E ratio of 13.39, a price-to-earnings growth ratio of 0.64 and a beta of 1.09. The company has a 50-day moving average price of $166.83 and a 200-day moving average price of $149.63. Chevron Co. has a fifty-two week low of $92.86 and a fifty-two week high of $182.40.

Herringbone (NYSE: CLCGet a rating) last reported quarterly earnings data on Friday, April 29. The oil and gas company reported earnings per share of $3.36 for the quarter, missing consensus analyst estimates of $3.44 per ($0.08). The company posted revenue of $54.37 billion in the quarter, versus analyst estimates of $54.96 billion. Chevron had a net margin of 11.10% and a return on equity of 14.66%. The company’s revenue for the quarter increased 69.8% year over year. In the same quarter last year, the company posted EPS of $0.90. On average, research analysts expect Chevron Co. to post EPS of 17.5 for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 10. Investors of record on Thursday, May 19 received a dividend of $1.42. This represents a dividend of $5.68 on an annualized basis and a dividend yield of 3.99%. The ex-dividend date was Wednesday, May 18. Chevron’s dividend payout ratio (DPR) is currently 53.38%.

In other Chevron news, Director Enrique Hernández, Jr. sold 5,805 shares of the company in a trade that took place on Tuesday, May 3. The shares were sold at an average price of $160.00, for a total transaction of $928,800.00. Following completion of the transaction, the administrator now owns 22,978 shares of the company, valued at approximately $3,676,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, available at this hyperlink. Also, VPE Mark A.Nelson sold 117,400 shares of the company in a transaction that took place on Tuesday, May 10. The stock was sold at an average price of $159.47, for a total transaction of $18,721,778.00. Following the transaction, the executive vice president now owns 788 shares of the company, valued at approximately $125,662.36. Disclosure of this sale can be found here. Insiders sold 561,726 shares of the company worth $94,057,396 in the past 90 days. Insiders of the company own 0.32% of the shares of the company.

A number of equity analysts have weighed in on CVX shares recently. JPMorgan Chase & Co. downgraded Chevron shares from a “neutral” rating to an “underweight” rating and set a price target of $169.00 for the stock. in a research report on Friday, March 11. Barclays raised its price target on Chevron shares from $183.00 to $196.00 and gave the stock an “overweight” rating in a Tuesday, May 31 research note. Truist Financial cut its price target on Chevron shares from $186.00 to $181.00 in a Monday, May 2 research note. Piper Sandler raised her price target on Chevron shares from $150.00 to $173.00 and gave the stock an “overweight” rating in a Wednesday, March 2 research note. To finish, StockNews.com began covering Chevron shares in a research note on Thursday, March 31. They have placed a “holding” rating on the stock. One analyst rated the stock with a sell rating, eight gave the company a hold rating and fifteen gave the company’s stock a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “moderate buy” and an average target price of $169.57.

About Herringbone (Get a rating)

Chevron Corporation, through its subsidiaries, has integrated energy and chemical businesses worldwide. 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 associated with liquefied natural gas; transportation of crude oil by pipelines; and the transportation, storage and marketing of natural gas, as well as the operation of a gas-to-liquids plant.

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Institutional ownership by quarter for Chevron (NYSE:CVX)



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