Foundations Investment Advisors LLC Sells 81,976 Shares of Chevron Corporation (NYSE:CVX)

Key Points

• Foundations Investment Advisors LLC reduced its stake in Chevron Corporation by 58.1%, selling 81,976 shares and holding 59,106 shares valued at approximately $9.89 million as of its latest SEC filing.
• Chevron reported a quarterly EPS of $2.18, surpassing analysts' estimates of $2.15, while its revenue fell by 2.3% year-over-year to $47.61 billion.
• The company declared a quarterly dividend of $1.71 per share, which results in an annualized yield of 4.42% and a payout ratio of 78.17%.

Foundations Investment Advisors LLC lessened its position in Chevron Corporation (NYSE:CVX - Free Report) by 58.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 59,106 shares of the oil and gas company's stock after selling 81,976 shares during the quarter. Foundations Investment Advisors LLC's holdings in Chevron were worth $9,888,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CVX. Life Planning Partners Inc purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $25,000. 10Elms LLP purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $29,000. Navigoe LLC purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $33,000. IFS Advisors LLC increased its stake in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after buying an additional 116 shares during the period. Finally, Cloud Capital Management LLC acquired a new position in Chevron in the 1st quarter valued at approximately $39,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

Shares of NYSE CVX traded down $1.42 during trading hours on Thursday, hitting $152.14. 4,437,264 shares of the stock were exchanged, compared to its average volume of 9,448,859. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The company's 50 day moving average is $146.24 and its 200 day moving average is $148.93. The firm has a market capitalization of $265.70 billion, a P/E ratio of 17.41, a P/E/G ratio of 2.47 and a beta of 0.83. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

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

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.50%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio is currently 78.17%.

Analysts Set New Price Targets

Several research firms have weighed in on CVX. Redburn Atlantic reiterated a "sell" rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Scotiabank reiterated a "sector perform" rating and issued a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. BNP Paribas lowered shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and dropped their price objective for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective on the stock. in a research note on Tuesday, May 6th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Chevron presently has a consensus rating of "Hold" and a consensus price target of $163.18.

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.