First Horizon Advisors Inc. Purchases 2,878 Shares of Chevron Corporation (NYSE:CVX)

First Horizon Advisors Inc. raised its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,693 shares of the oil and gas company's stock after buying an additional 2,878 shares during the quarter. First Horizon Advisors Inc.'s holdings in Chevron were worth $17,012,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CVX. Revisor Wealth Management LLC raised its stake in Chevron by 79.2% during the 1st quarter. Revisor Wealth Management LLC now owns 3,545 shares of the oil and gas company's stock valued at $593,000 after purchasing an additional 1,567 shares during the last quarter. Strategic Financial Concepts LLC raised its position in shares of Chevron by 23.1% during the first quarter. Strategic Financial Concepts LLC now owns 6,588 shares of the oil and gas company's stock valued at $1,102,000 after buying an additional 1,236 shares during the last quarter. Glassy Mountain Advisors Inc. bought a new stake in shares of Chevron in the first quarter valued at about $209,000. Private Trust Co. NA grew its position in Chevron by 4.1% during the first quarter. Private Trust Co. NA now owns 31,476 shares of the oil and gas company's stock worth $5,266,000 after buying an additional 1,251 shares in the last quarter. Finally, Mainstream Capital Management LLC increased its stake in Chevron by 7.0% during the first quarter. Mainstream Capital Management LLC now owns 6,377 shares of the oil and gas company's stock valued at $1,067,000 after acquiring an additional 419 shares during the period. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on CVX shares. BNP Paribas downgraded Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $165.00 target price (up from $164.00) on shares of Chevron in a research report on Thursday, June 26th. Barclays downgraded shares of Chevron from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Redburn Atlantic reissued a "sell" rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, Scotiabank downgraded shares of Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $160.41.

Chevron Price Performance

Shares of Chevron stock traded up $0.25 during trading on Friday, reaching $148.23. The company's stock had a trading volume of 5,173,309 shares, compared to its average volume of 8,281,546. The stock has a 50-day moving average price of $141.16 and a two-hundred day moving average price of $148.15. The stock has a market capitalization of $258.86 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 2.51 and a beta of 0.83. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same quarter last year, the company posted $2.93 EPS. The company's quarterly revenue was down 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.61%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio (DPR) is presently 78.17%.

About Chevron

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.