Founders Financial Alliance LLC Has $3.55 Million Holdings in Chevron Corporation (NYSE:CVX)

Founders Financial Alliance LLC increased its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 12.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,212 shares of the oil and gas company's stock after buying an additional 2,420 shares during the quarter. Chevron accounts for approximately 0.9% of Founders Financial Alliance LLC's holdings, making the stock its 25th largest holding. Founders Financial Alliance LLC's holdings in Chevron were worth $3,548,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CVX. GAMMA Investing LLC raised its stake in Chevron by 21,191.5% during the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock worth $904,746,000 after buying an additional 5,382,847 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Chevron by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock worth $5,592,263,000 after purchasing an additional 1,574,464 shares in the last quarter. Capital World Investors increased its holdings in Chevron by 11.4% during the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock worth $2,039,288,000 after purchasing an additional 1,440,808 shares in the last quarter. Northern Trust Corp increased its holdings in Chevron by 7.3% during the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock worth $2,965,135,000 after purchasing an additional 1,394,091 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Chevron by 27.3% in the 4th quarter. Janus Henderson Group PLC now owns 3,897,183 shares of the oil and gas company's stock valued at $564,503,000 after acquiring an additional 835,990 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Performance

NYSE CVX opened at $153.11 on Friday. The firm's fifty day moving average price is $148.08 and its two-hundred day moving average price is $148.65. The stock has a market cap of $267.40 billion, a PE ratio of 19.71, a PEG ratio of 2.29 and a beta of 0.87. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week 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.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.80%. The company's revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.55 earnings per share. On average, equities analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. Chevron's payout ratio is currently 88.03%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent analyst reports. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Wells Fargo & Company reiterated an "overweight" rating and issued a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. Redburn Atlantic reiterated a "sell" rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a research note on Friday, July 18th. Finally, DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a research note on Tuesday, May 6th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $164.11.

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.

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