Foundation Resource Management Inc. Has $38.72 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Foundation Resource Management Inc. cut its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 3.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 231,471 shares of the oil and gas company's stock after selling 8,482 shares during the period. Chevron comprises approximately 6.1% of Foundation Resource Management Inc.'s holdings, making the stock its 3rd largest position. Foundation Resource Management Inc.'s holdings in Chevron were worth $38,723,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Life Planning Partners Inc bought a new position in Chevron in the fourth quarter valued at about $25,000. IMG Wealth Management Inc. bought a new position in shares of Chevron in the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron in the 4th quarter worth approximately $29,000. 10Elms LLP purchased a new position in shares of Chevron in the fourth quarter worth approximately $29,000. Finally, Fairway Wealth LLC grew its position in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after buying an additional 88 shares during the period. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CVX. Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. HSBC lowered Chevron from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. UBS Group lowered their target price on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. TD Cowen cut their price target on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a report on Monday, May 5th. Finally, Wells Fargo & Company reduced their price target on Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Stock Up 2.4%

NYSE CVX opened at $140.21 on Monday. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market cap of $244.86 billion, a PE ratio of 14.42, a P/E/G ratio of 1.46 and a beta of 0.83. The stock's 50 day moving average is $138.98 and its 200 day moving average is $149.65.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company's quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.93 earnings per share. Research analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.88%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's payout ratio is currently 78.17%.

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.

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