Forum Financial Management LP Has $5.50 Million Holdings in Chevron Corporation (NYSE:CVX)

Forum Financial Management LP reduced its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 10.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,862 shares of the oil and gas company's stock after selling 3,699 shares during the quarter. Forum Financial Management LP's holdings in Chevron were worth $5,497,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Eagle Capital Management LLC increased its stake in shares of Chevron by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock worth $5,011,000 after acquiring an additional 242 shares during the period. Bank Pictet & Cie Europe AG increased its stake in shares of Chevron by 7.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock worth $5,212,000 after acquiring an additional 2,641 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Chevron by 59.5% during the fourth quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company's stock worth $847,000 after acquiring an additional 2,182 shares during the period. Compass Ion Advisors LLC increased its stake in shares of Chevron by 3.2% during the fourth quarter. Compass Ion Advisors LLC now owns 6,121 shares of the oil and gas company's stock worth $887,000 after acquiring an additional 190 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of Chevron by 64.4% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,692 shares of the oil and gas company's stock worth $821,000 after acquiring an additional 2,230 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 1.1%

NYSE CVX traded down $1.59 during trading hours on Friday, reaching $149.79. 45,762,307 shares of the company's stock were exchanged, compared to its average volume of 8,533,067. The company's 50-day moving average is $143.81 and its two-hundred day moving average is $148.61. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The company has a market capitalization of $261.59 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 2.45 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same period in the prior year, the business earned $2.93 EPS. Chevron's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio (DPR) is currently 78.17%.

Wall Street Analyst Weigh In

A number of analysts recently commented on CVX shares. Scotiabank reissued a "sector perform" rating and set a $160.00 price objective (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective on the stock. in a report on Tuesday, May 6th. HSBC downgraded shares of Chevron from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Finally, Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $161.31.

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.