First Horizon Advisors Inc. Lowers Position in Chevron Co. (NYSE:CVX)

First Horizon Advisors Inc. decreased its stake in shares of Chevron Co. (NYSE:CVX) by 5.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 99,701 shares of the oil and gas company’s stock after selling 6,107 shares during the period. First Horizon Advisors Inc.’s holdings in Chevron were worth $14,872,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of CVX. Sweet Financial Partners LLC lifted its position in shares of Chevron by 0.7% in the third quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock worth $1,477,000 after buying an additional 65 shares in the last quarter. Strategic Investment Advisors MI raised its stake in Chevron by 3.8% during the third quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock valued at $296,000 after purchasing an additional 65 shares in the last quarter. Regent Peak Wealth Advisors LLC lifted its position in Chevron by 1.4% during the third quarter. Regent Peak Wealth Advisors LLC now owns 5,081 shares of the oil and gas company’s stock valued at $857,000 after purchasing an additional 68 shares during the last quarter. Octavia Wealth Advisors LLC grew its stake in shares of Chevron by 1.3% in the 4th quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock worth $784,000 after buying an additional 68 shares in the last quarter. Finally, Investment Partners LTD. increased its holdings in shares of Chevron by 0.8% in the 4th quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock worth $1,212,000 after buying an additional 68 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CVX shares. 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 report on Monday, January 8th. Mizuho raised their price target on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Royal Bank of Canada boosted their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Piper Sandler lifted their price target on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Finally, Truist Financial reduced their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $185.35.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company’s stock.

Chevron Stock Up 1.0 %

Shares of NYSE CVX traded up $1.60 during mid-day trading on Thursday, hitting $161.23. The company had a trading volume of 4,142,172 shares, compared to its average volume of 8,390,875. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The company has a market capitalization of $299.45 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 2.38 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The business’s 50-day simple moving average is $157.04 and its 200 day simple moving average is $151.74.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same period in the previous year, the company posted $3.55 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, analysts predict that Chevron Co. will post 13.53 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. Chevron’s dividend payout ratio is presently 59.98%.

Chevron Company 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.