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

First Horizon Advisors Inc. raised its stake in Chevron Co. (NYSE:CVX - Free Report) by 4.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 99,183 shares of the oil and gas company's stock after purchasing an additional 3,880 shares during the quarter. First Horizon Advisors Inc.'s holdings in Chevron were worth $14,607,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Ameriprise Financial Inc. raised its holdings in shares of Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company's stock worth $2,676,957,000 after purchasing an additional 501,969 shares during the period. Capital World Investors increased its position in Chevron by 3.2% in the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company's stock valued at $2,525,380,000 after acquiring an additional 495,879 shares during the period. Legal & General Group Plc increased its holdings in shares of Chevron by 4.9% during the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company's stock valued at $2,122,772,000 after purchasing an additional 629,644 shares during the period. Capital International Investors lifted its holdings in Chevron by 5.9% in the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company's stock worth $2,116,600,000 after purchasing an additional 743,042 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Chevron by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company's stock valued at $2,036,846,000 after buying an additional 126,889 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company's stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company's stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.20% of the company's stock.

Chevron Trading Up 1.1 %

NYSE:CVX traded up $1.70 on Wednesday, reaching $161.30. The company's stock had a trading volume of 6,390,683 shares, compared to its average volume of 7,651,631. The business's 50-day moving average price is $150.23 and its two-hundred day moving average price is $152.57. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market cap of $289.87 billion, a PE ratio of 17.73, a PEG ratio of 3.63 and a beta of 1.09.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts' consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period in the prior year, the business earned $3.05 EPS. The company's revenue for the quarter was down 6.3% compared to the same quarter last year. Equities research analysts anticipate that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. Chevron's dividend payout ratio (DPR) is currently 71.65%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CVX. DZ Bank raised Chevron from a "hold" rating to a "buy" rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Wells Fargo & Company reduced their price target on Chevron from $196.00 to $169.00 and set an "overweight" rating for the company in a report on Friday, September 27th. Scotiabank reduced their price objective on Chevron from $180.00 to $163.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. Mizuho decreased their price target on shares of Chevron from $205.00 to $189.00 and set an "outperform" rating on the stock in a research report on Monday, September 16th. Finally, Truist Financial increased their target price on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $174.93.

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.