Chevron Co. (NYSE:CVX) is Foundry Partners LLC’s 9th Largest Position

Foundry Partners LLC decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 9.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 162,368 shares of the oil and gas company’s stock after selling 17,600 shares during the quarter. Chevron makes up approximately 1.5% of Foundry Partners LLC’s portfolio, making the stock its 9th biggest position. Foundry Partners LLC’s holdings in Chevron were worth $24,219,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Cantor Fitzgerald Investment Advisor L.P lifted its stake in Chevron by 85.1% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock valued at $25,908,000 after buying an additional 73,141 shares during the last quarter. Axiom Financial Strategies LLC lifted its stake in Chevron by 25.2% in the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock valued at $1,155,000 after buying an additional 1,476 shares during the last quarter. GQG Partners LLC lifted its stake in Chevron by 4.7% in the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock valued at $6,598,000 after buying an additional 1,813 shares during the last quarter. Lumature Wealth Partners LLC lifted its stake in Chevron by 43.5% in the first quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock valued at $950,000 after buying an additional 1,770 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Chevron by 13.8% in the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock valued at $336,830,000 after buying an additional 250,840 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock traded up $2.43 on Friday, reaching $160.00. 7,734,654 shares of the company’s stock were exchanged, compared to its average volume of 6,934,255. The stock has a fifty day moving average of $155.44 and a 200-day moving average of $151.67. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.38. The firm has a market cap of $297.16 billion, a PE ratio of 14.08, a P/E/G ratio of 2.41 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The firm had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. Chevron’s quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.09 earnings per share. As a group, equities analysts predict that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a $1.63 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a yield of 4.08%. Chevron’s dividend payout ratio is 57.39%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CVX. Mizuho boosted their price objective on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Truist Financial reduced their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Barclays assumed coverage on Chevron in a research note on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target for the company. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research note on Monday, January 8th. Finally, Piper Sandler upped their price target on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $184.75.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by corporate insiders.

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.