First Foundation Advisors Sells 6,855 Shares of Chevron Corporation (NYSE:CVX)

First Foundation Advisors decreased its position in shares of Chevron Corporation (NYSE:CVX) by 19.5% in the 1st quarter, Holdings Channel reports. The firm owned 28,385 shares of the oil and gas company’s stock after selling 6,855 shares during the quarter. First Foundation Advisors’ holdings in Chevron were worth $4,749,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CVX. 10Elms LLP bought a new position in Chevron during the 4th quarter worth approximately $29,000. Navigoe LLC bought a new position in Chevron during the fourth quarter worth $33,000. IFS Advisors LLC boosted its stake in Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 116 shares in the last quarter. Cloud Capital Management LLC bought a new position in Chevron during the first quarter worth $39,000. Finally, Investment Management Corp VA ADV boosted its stake in Chevron by 171.3% during the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 149 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $156.18 on Tuesday. The company’s 50-day moving average is $145.48 and its 200 day moving average is $148.84. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The company has a market capitalization of $272.75 billion, a P/E ratio of 17.85, a price-to-earnings-growth ratio of 2.44 and a beta of 0.83. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same period in the previous year, the business posted $2.93 EPS. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. On average, equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio is presently 78.17%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CVX. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and cut their target price for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Barclays reissued an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. TD Cowen cut their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Wells Fargo & Company increased their target price on shares of Chevron from $165.00 to $178.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Finally, DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target 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 nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $162.13.

Chevron 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.