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

First Horizon Advisors Inc. boosted its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 2.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CVX. Geode Capital Management LLC grew its position in shares of Chevron by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock worth $5,247,142,000 after buying an additional 392,916 shares during the period. Norges Bank acquired a new stake in shares of Chevron during the 4th quarter worth approximately $3,017,750,000. Northern Trust Corp grew its position in shares of Chevron by 7.3% during the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock worth $2,965,135,000 after buying an additional 1,394,091 shares during the period. Franklin Resources Inc. grew its position in shares of Chevron by 0.5% during the 4th quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company's stock worth $2,502,850,000 after buying an additional 79,917 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of Chevron by 1.3% during the 4th quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company's stock worth $2,421,564,000 after buying an additional 211,023 shares during the period. Institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of Chevron from $162.00 to $164.00 and gave the stock an "overweight" rating in a research report on Wednesday. Mizuho reduced their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $165.00 price objective (up previously 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 reduced their price target for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Finally, TD Cowen reduced their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $160.41.

Chevron Stock Up 0.2%

NYSE:CVX traded up $0.25 during trading hours on Friday, hitting $148.23. 5,173,309 shares of the company traded hands, compared to its average volume of 8,281,546. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The firm's 50-day simple moving average is $141.16 and its 200-day simple moving average is $148.07. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a market cap of $258.86 billion, a PE ratio of 16.94, a PEG ratio of 2.51 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last issued 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 return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. During the same period last year, the business earned $2.93 EPS. The business's revenue was down 2.3% on a year-over-year basis. Equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

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

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.