Founders Financial Alliance LLC Has $2.72 Million Stock Holdings in Chevron Co. (NYSE:CVX)

by · The Markets Daily

Founders Financial Alliance LLC lifted its stake in shares of Chevron Co. (NYSE:CVX – Free Report) by 11.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,792 shares of the oil and gas company’s stock after purchasing an additional 1,880 shares during the period. Chevron makes up about 0.7% of Founders Financial Alliance LLC’s holdings, making the stock its 26th biggest position. Founders Financial Alliance LLC’s holdings in Chevron were worth $2,722,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CVX. Charles Schwab Investment Management Inc. raised its position in Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after buying an additional 3,203,899 shares during the period. RPG Investment Advisory LLC raised its position in Chevron by 3.4% during the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock valued at $17,844,000 after buying an additional 3,933 shares during the period. State Street Corp raised its position in Chevron by 0.6% during the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after buying an additional 874,962 shares during the period. LPL Financial LLC raised its position in Chevron by 5.7% during the third quarter. LPL Financial LLC now owns 3,147,686 shares of the oil and gas company’s stock valued at $463,560,000 after buying an additional 171,089 shares during the period. Finally, Dale Q Rice Investment Management Ltd acquired a new position in Chevron during the fourth quarter valued at $594,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Chevron stock opened at $157.67 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market capitalization of $277.59 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The business has a 50 day simple moving average of $154.37 and a 200 day simple moving average of $151.86.

Chevron (NYSE:CVX – Get Free Report) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the company posted $3.45 EPS. On average, sell-side analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.34%. The ex-dividend date was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is 70.37%.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Barclays dropped their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Truist Financial lowered their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Finally, UBS Group lowered their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Check Out Our Latest Research Report on CVX

About Chevron

(Free Report)

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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