Foundations Investment Advisors LLC Has $18.32 Million Holdings in Chevron Co. (NYSE:CVX)

Foundations Investment Advisors LLC cut its holdings in shares of Chevron Co. (NYSE:CVX) by 2.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 124,376 shares of the oil and gas company’s stock after selling 2,645 shares during the period. Foundations Investment Advisors LLC’s holdings in Chevron were worth $18,317,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Eagle Capital Management LLC lifted its holdings in Chevron by 0.5% during the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after acquiring an additional 163 shares in the last quarter. Lane & Associates LLC bought a new stake in shares of Chevron in the first quarter valued at about $345,000. KCM Investment Advisors LLC lifted its holdings in shares of Chevron by 2.5% in the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after purchasing an additional 8,168 shares in the last quarter. Hosking Partners LLP bought a new stake in shares of Chevron in the first quarter valued at about $4,924,000. Finally, Garner Asset Management Corp raised its holdings in Chevron by 14.5% during the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock worth $3,128,000 after acquiring an additional 2,530 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Shares of NYSE CVX opened at $150.84 on Tuesday. The firm has a market cap of $275.87 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 2.73 and a beta of 1.09. 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 Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The business’s 50 day moving average is $146.19 and its 200-day moving average is $153.55.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm 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 business posted $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts predict that Chevron Co. will post 10.95 earnings per share for the current 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 4.32%. Chevron’s dividend payout ratio (DPR) is presently 64.55%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Truist Financial dropped their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Bank of America assumed coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Barclays dropped their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Wells Fargo & Company dropped their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Finally, Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average target price of $173.07.

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.