Founders Financial Alliance LLC Has $2.66 Million Position in Chevron Co. (NYSE:CVX)

Founders Financial Alliance LLC lowered its stake in shares of Chevron Co. (NYSE:CVX) by 0.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 16,988 shares of the oil and gas company’s stock after selling 96 shares during the quarter. Chevron accounts for approximately 0.8% of Founders Financial Alliance LLC’s portfolio, making the stock its 26th biggest position. Founders Financial Alliance LLC’s holdings in Chevron were worth $2,657,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVX. J. W. Coons Advisors LLC increased its position in shares of Chevron by 1.4% during the fourth quarter. J. W. Coons Advisors LLC now owns 7,097 shares of the oil and gas company’s stock worth $1,059,000 after acquiring an additional 100 shares in the last quarter. CWA Asset Management Group LLC increased its holdings in Chevron by 26.4% during the 4th quarter. CWA Asset Management Group LLC now owns 15,954 shares of the oil and gas company’s stock worth $2,380,000 after purchasing an additional 3,333 shares in the last quarter. Cornerstone Advisory LLC raised its stake in shares of Chevron by 18.1% in the fourth quarter. Cornerstone Advisory LLC now owns 5,003 shares of the oil and gas company’s stock worth $746,000 after purchasing an additional 767 shares during the last quarter. Hudson Edge Investment Partners Inc. lifted its holdings in shares of Chevron by 20.3% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 5,806 shares of the oil and gas company’s stock valued at $866,000 after purchasing an additional 978 shares in the last quarter. Finally, ROI Financial Advisors LLC bought a new stake in Chevron during the fourth quarter worth $595,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Barclays cut their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Wolfe Research began coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Royal Bank of Canada reduced their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Scotiabank dropped their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Finally, Mizuho decreased their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Chevron has an average rating of “Moderate Buy” and an average price target of $180.00.

Chevron Trading Up 1.2 %

NYSE:CVX opened at $147.27 on Tuesday. The company has a market cap of $271.41 billion, a P/E ratio of 13.55, a P/E/G ratio of 2.68 and a beta of 1.09. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $170.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock’s fifty day moving average price is $146.43 and its two-hundred day moving average price is $154.25.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the prior year, the business earned $3.08 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, analysts expect that Chevron Co. will post 11.02 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is presently 59.98%.

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.