First Foundation Advisors Trims Stock Position in Chevron Co. (NYSE:CVX)

First Foundation Advisors reduced its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 63.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 35,240 shares of the oil and gas company's stock after selling 60,092 shares during the period. First Foundation Advisors' holdings in Chevron were worth $5,104,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arete Wealth Advisors LLC acquired a new position in shares of Chevron in the third quarter worth about $2,370,000. Executive Wealth Management LLC acquired a new stake in Chevron in the third quarter valued at approximately $226,000. Empire Financial Management Company LLC increased its position in shares of Chevron by 0.5% in the third quarter. Empire Financial Management Company LLC now owns 20,881 shares of the oil and gas company's stock valued at $3,075,000 after buying an additional 105 shares in the last quarter. Soltis Investment Advisors LLC raised its stake in shares of Chevron by 76.7% during the 3rd quarter. Soltis Investment Advisors LLC now owns 70,756 shares of the oil and gas company's stock worth $10,420,000 after buying an additional 30,718 shares during the period. Finally, Second Line Capital LLC lifted its position in shares of Chevron by 77.7% during the 3rd quarter. Second Line Capital LLC now owns 30,015 shares of the oil and gas company's stock valued at $4,420,000 after buying an additional 13,126 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent analyst reports. Truist Financial decreased their price objective on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a report on Tuesday, February 4th. Wells Fargo & Company decreased their price target on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. UBS Group cut their price objective on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Barclays decreased 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. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $172.20.

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Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares of the company's stock, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by corporate insiders.

Chevron Trading Down 0.2 %

CVX stock traded down $0.26 during mid-day trading on Monday, hitting $135.37. 4,821,755 shares of the company were exchanged, compared to its average volume of 7,867,403. The firm has a market capitalization of $238.33 billion, a P/E ratio of 13.93, a PEG ratio of 1.46 and a beta of 0.93. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The business has a fifty day simple moving average of $155.34 and a 200-day simple moving average of $153.90.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the business posted $3.45 earnings per share. On average, equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.05%. This is a positive change from Chevron's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron's dividend payout ratio is presently 70.37%.

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.