First Horizon Corp Takes Position in Chevron Corporation $CVX

First Horizon Corp purchased a new stake in shares of Chevron Corporation (NYSE:CVX) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 73,069 shares of the oil and gas company’s stock, valued at approximately $11,347,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vishria Bird Financial Group LLC boosted its holdings in shares of Chevron by 1.2% during the 3rd quarter. Vishria Bird Financial Group LLC now owns 5,285 shares of the oil and gas company’s stock valued at $821,000 after buying an additional 65 shares in the last quarter. Nexus Investment Management ULC lifted its position in Chevron by 0.9% during the 3rd quarter. Nexus Investment Management ULC now owns 7,641 shares of the oil and gas company’s stock valued at $1,187,000 after acquiring an additional 65 shares during the period. White Knight Strategic Wealth Advisors LLC boosted its stake in Chevron by 3.0% during the second quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company’s stock worth $319,000 after acquiring an additional 65 shares in the last quarter. Rakuten Securities Inc. grew its holdings in Chevron by 7.4% in the second quarter. Rakuten Securities Inc. now owns 961 shares of the oil and gas company’s stock worth $138,000 after purchasing an additional 66 shares during the period. Finally, Analyst IMS Investment Management Services Ltd. increased its stake in shares of Chevron by 1.0% during the second quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock valued at $966,000 after purchasing an additional 67 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX opened at $162.15 on Monday. The company’s 50-day simple moving average is $152.31 and its two-hundred day simple moving average is $153.56. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 1.15. The stock has a market capitalization of $326.49 billion, a P/E ratio of 22.81, a P/E/G ratio of 10.19 and a beta of 0.70. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The firm had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. During the same period in the previous year, the company earned $2.48 earnings per share. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. As a group, analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th were issued a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.2%. Chevron’s payout ratio is presently 96.20%.

Insider Transactions at Chevron

In other Chevron news, insider Alana K. Knowles sold 7,956 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $165.05, for a total transaction of $1,313,137.80. Following the completion of the sale, the insider directly owned 1,207 shares in the company, valued at $199,215.35. The trade was a 86.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the sale, the director directly owned 1,128,045 shares of the company’s stock, valued at $170,052,783.75. The trade was a 19.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 631,990 shares of company stock worth $99,716,808 in the last three months. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CVX has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price target on Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Sanford C. Bernstein lifted their price objective on Chevron from $170.00 to $172.00 and gave the company a “market perform” rating in a research note on Monday, January 5th. Hsbc Global Res raised Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Barclays reduced their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Finally, Morgan Stanley upped their price target on shares of Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $167.14.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is in advanced talks with the U.S. government to expand its Venezuela license, which would allow higher exports to Chevron’s refineries and third parties — a clear potential earnings and volume catalyst. Read More.
• Positive Sentiment: Shipping and operational activity is picking up: data and filings show Chevron loading Venezuelan crude and contracting multiple tankers, signalling the company can scale flows quickly if approvals hold. Read More.
• Positive Sentiment: Market positioning and deal activity: reports show Chevron competing with traders and partners to control Venezuelan exports and lining up bids for international assets — moves that could expand supply links and reserves. Read More.
• Positive Sentiment: Analyst support: Bernstein and other outlets have recently raised targets or reiterated bullish theses on CVX amid the Venezuela angle, providing analyst-driven validation. Read More.
• Neutral Sentiment: White House engagement: President Trump met with oil executives to discuss Venezuela reconstruction — policy backing could help but details, guarantees and timelines remain uncertain. Read More.
• Neutral Sentiment: Companies want guarantees: FT/Reuters reporting that U.S. majors want formal guarantees from Washington before committing large capital, implying any large-scale Venezuela rebuild will be phased and conditional. Read More.
• Neutral Sentiment: Distribution risk: some shipments to traditional buyers (notably Chinese buyers) are paused, tempering near-term cash conversion despite increased loading activity. Read More.
• Negative Sentiment: Large insider selling disclosed (CEO, CFO and other insiders sold sizable blocks in early January), which can be perceived negatively and add short-term selling pressure. Read More.
• Negative Sentiment: Analyst downgrades and sell-side caution: at least one firm cut CVX to “Strong Sell” and others trimmed price targets, reflecting some skepticism about sustainable upside after the recent run. Read More. Read More.
• Negative Sentiment: Political/reputational risk: high-profile criticism and scrutiny around U.S. handling of Venezuela investments raise execution and regulatory uncertainty. Read More.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.