Foundations Investment Advisors LLC Reduces Stock Position in Chevron Corporation $CVX

Key Points

• Foundations Investment Advisors LLC reduced its Chevron stake by 16.7% in the fourth quarter, selling 10,907 shares and leaving it with 54,346 shares valued at about $8.28 million.
• Chevron reported Q1 EPS of $1.41, beating analyst expectations, though revenue of $47.56 billion came in below forecasts; the company also guided to about $15.74 EPS for the full year.
• The company announced a quarterly dividend of $1.78 per share, implying an annualized yield of 3.9%, while insiders have been notable sellers, including CEO Michael Wirth and Director John B. Hess.

Foundations Investment Advisors LLC cut its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 16.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,346 shares of the oil and gas company's stock after selling 10,907 shares during the quarter. Foundations Investment Advisors LLC's holdings in Chevron were worth $8,283,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Godfrey Financial Associates Inc. acquired a new position in shares of Chevron in the 4th quarter worth approximately $79,000. IFG Advisory LLC grew its position in shares of Chevron by 5.7% in the 4th quarter. IFG Advisory LLC now owns 16,785 shares of the oil and gas company's stock worth $2,558,000 after acquiring an additional 901 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Chevron in the 4th quarter worth approximately $94,000. Redmond Asset Management LLC grew its position in shares of Chevron by 2.0% in the 4th quarter. Redmond Asset Management LLC now owns 24,473 shares of the oil and gas company's stock worth $3,730,000 after acquiring an additional 486 shares in the last quarter. Finally, Connecticut Capital Management Group LLC acquired a new position in shares of Chevron in the 4th quarter worth approximately $210,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 0.5%

NYSE:CVX opened at $183.24 on Friday. Chevron Corporation has a 12-month low of $135.21 and a 12-month high of $214.71. The firm has a market capitalization of $364.93 billion, a P/E ratio of 31.76, a P/E/G ratio of 0.60 and a beta of 0.51. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The business has a 50 day simple moving average of $192.60 and a 200 day simple moving average of $175.64.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. During the same quarter in the previous year, the firm posted $2.18 EPS. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. Equities research analysts predict that Chevron Corporation will post 15.74 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be given a dividend of $1.78 per share. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. Chevron's payout ratio is currently 123.40%.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 272,624 shares of the business's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $189.35, for a total transaction of $51,621,354.40. Following the completion of the transaction, the chief executive officer owned 31,266 shares in the company, valued at approximately $5,920,217.10. The trade was a 89.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John B. Hess sold 380,000 shares of the business's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the transaction, the director owned 278,045 shares of the company's stock, valued at $53,718,294. This trade represents a 57.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,144,224 shares of company stock worth $218,075,038 in the last ninety days. 0.56% of the stock is currently owned by corporate insiders.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron CEO Mike Wirth said oil prices could rise further if Middle East tensions continue to disrupt supply, with the Strait of Hormuz blockade reducing global barrels and tightening market “shock absorbers.” Higher oil prices typically improve upstream earnings for Chevron. Chevron CEO Wirth warns oil prices likely to rise as Iran war hits supplies
• Positive Sentiment: Chevron filed to take control of an offshore Greek gas block, expanding its Mediterranean footprint and adding another potential long-term gas growth avenue. Chevron files request to acquire offshore Greek block, energy ministry says
• Positive Sentiment: Chevron also highlighted stronger gas demand linked to data-center power needs, reinforcing the company’s outlook for natural gas as a key growth driver. Chevron Highlights Stronger Coal Consumption Outlook
• Neutral Sentiment: Chevron shareholders rejected a proposal to separate the board chair and CEO roles, which removes one governance overhang but is unlikely to be a major near-term stock driver. Chevron shareholders reject proposal that requires independent board chair separate from CEO role
• Neutral Sentiment: A proposed U.S. bill to temporarily cut fuel taxes could affect gasoline demand and pricing dynamics for Chevron, but it is only a proposal and not yet law. New Bill: Representative Anna Paulina Luna introduces H.R. 8795: American Families Gas Tax Relief Act

Wall Street Analyst Weigh In

Several brokerages have recently commented on CVX. TD Cowen lifted their target price on Chevron from $204.00 to $205.00 and gave the stock a "hold" rating in a research report on Friday, May 8th. Tudor Pickering upgraded Chevron from a "hold" rating to a "buy" rating and set a $225.00 target price for the company in a research report on Thursday, April 9th. UBS Group lifted their target price on Chevron from $218.00 to $220.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Sanford C. Bernstein reduced their price objective on Chevron from $216.00 to $204.00 and set a "market perform" rating for the company in a research report on Monday, May 11th. Finally, HSBC upgraded Chevron from a "hold" rating to a "buy" rating and set a $215.00 price objective for the company in a research report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $205.70.

Chevron Profile

Chevron Corporation NYSE: CVX is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron's core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

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