Chevron Co. (NYSE:CVX) Stock Holdings Trimmed by First Horizon Advisors Inc.

First Horizon Advisors Inc. decreased its holdings in Chevron Co. (NYSE:CVX) by 5.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 99,701 shares of the oil and gas company’s stock after selling 6,107 shares during the quarter. First Horizon Advisors Inc.’s holdings in Chevron were worth $14,872,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CVX. Vanguard Group Inc. raised its position in shares of Chevron by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after buying an additional 458,080 shares in the last quarter. Morgan Stanley raised its holdings in Chevron by 7.0% during the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after purchasing an additional 2,244,995 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Chevron by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock worth $4,059,834,000 after purchasing an additional 368,898 shares during the period. Northern Trust Corp boosted its stake in Chevron by 2.6% during the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock valued at $3,828,537,000 after purchasing an additional 569,850 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Chevron by 0.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 14,814,522 shares of the oil and gas company’s stock valued at $2,499,684,000 after purchasing an additional 62,254 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now owns 276 shares in the company, valued at $45,540. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

Shares of CVX stock traded up $1.60 during mid-day trading on Thursday, reaching $161.23. The stock had a trading volume of 4,142,172 shares, compared to its average volume of 8,390,875. The firm has a market cap of $299.45 billion, a PE ratio of 14.77, a P/E/G ratio of 2.38 and a beta of 1.11. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The firm’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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the prior year, the company posted $3.55 EPS. The business’s revenue was down 4.1% on a year-over-year basis. On average, analysts forecast that Chevron Co. will post 13.53 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a $1.63 dividend. 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 (DPR) is currently 59.98%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CVX shares. Barclays began coverage on Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. Wells Fargo & Company increased their price objective on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday. Piper Sandler raised their price objective 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. TD Cowen boosted their price objective on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday. Finally, Royal Bank of Canada boosted their target price on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $185.35.

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.