Chevron Co. (NYSE:CVX) Shares Sold by Founders Capital Management

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Founders Capital Management lessened its holdings in Chevron Co. (NYSE:CVX) by 0.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,562 shares of the oil and gas company’s stock after selling 80 shares during the quarter. Chevron makes up about 3.0% of Founders Capital Management’s investment portfolio, making the stock its 11th largest holding. Founders Capital Management’s holdings in Chevron were worth $3,430,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Taylor Cottrill Erickson & Associates Inc. raised its stake in shares of Chevron by 0.5% during the fourth quarter. Taylor Cottrill Erickson & Associates Inc. now owns 18,079 shares of the oil and gas company’s stock valued at $1,967,000 after purchasing an additional 90 shares in the last quarter. Bingham Osborn & Scarborough LLC raised its stake in shares of Chevron by 0.5% during the fourth quarter. Bingham Osborn & Scarborough LLC now owns 18,273 shares of the oil and gas company’s stock valued at $1,988,000 after purchasing an additional 92 shares in the last quarter. Unison Advisors LLC raised its stake in shares of Chevron by 0.9% during the fourth quarter. Unison Advisors LLC now owns 10,873 shares of the oil and gas company’s stock valued at $1,183,000 after purchasing an additional 96 shares in the last quarter. Private Vista LLC raised its stake in shares of Chevron by 1.1% during the fourth quarter. Private Vista LLC now owns 9,191 shares of the oil and gas company’s stock valued at $1,000,000 after purchasing an additional 99 shares in the last quarter. Finally, Chatham Capital Group Inc. raised its stake in shares of Chevron by 2.1% during the fourth quarter. Chatham Capital Group Inc. now owns 4,957 shares of the oil and gas company’s stock valued at $539,000 after purchasing an additional 100 shares in the last quarter. 65.64% of the stock is owned by hedge funds and other institutional investors.

Shares of Chevron stock opened at $118.74 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17. The business has a 50-day simple moving average of $123.98. Chevron Co. has a 52 week low of $100.22 and a 52 week high of $127.60. The company has a market capitalization of $229.96 billion, a PE ratio of 15.42, a PEG ratio of 2.97 and a beta of 1.00.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 EPS for the quarter, topping the consensus estimate of $1.74 by $0.53. The firm had revenue of $38.85 billion for the quarter, compared to analysts’ expectations of $40.14 billion. Chevron had a net margin of 9.18% and a return on equity of 9.61%. Chevron’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 earnings per share. Equities research analysts anticipate that Chevron Co. will post 6.77 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be issued a dividend of $1.19 per share. The ex-dividend date is Friday, August 16th. This represents a $4.76 annualized dividend and a yield of 4.01%. Chevron’s payout ratio is presently 57.70%.

A number of brokerages recently weighed in on CVX. Bank of America upgraded shares of Chevron from a “neutral” rating to a “buy” rating and set a $140.00 price objective on the stock in a research note on Friday, April 12th. Morgan Stanley dropped their price target on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Cowen reiterated a “buy” rating and issued a $142.00 price target on shares of Chevron in a research report on Wednesday, April 17th. Citigroup assumed coverage on shares of Chevron in a research report on Monday, May 13th. They issued a “buy” rating and a $135.00 price target on the stock. Finally, Zacks Investment Research cut shares of Chevron from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $135.41.

In other Chevron news, Chairman Michael K. Wirth sold 33,750 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $125.60, for a total transaction of $4,239,000.00. Following the sale, the chairman now owns 33,750 shares in the company, valued at approximately $4,239,000. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Enrique Hernandez, Jr. sold 4,200 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $122.13, for a total value of $512,946.00. Following the sale, the director now owns 15,689 shares in the company, valued at approximately $1,916,097.57. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,050 shares of company stock worth $5,007,621. Corporate insiders own 0.31% of the company’s stock.

About Chevron

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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