Janus Henderson Group PLC Has $865.17 Million Holdings in Chevron Corporation $CVX

Key Points

• Janus Henderson reduced its Chevron stake by 14.3% in the first quarter, selling 695,236 shares. It still held 4.18 million shares worth approximately $865.2 million, while institutions and hedge funds owned 72.42% of CVX.
• Chevron shares opened at $191.91, up 2.3%, supported by higher oil prices and favorable analyst sentiment. The stock has a consensus “Moderate Buy” rating and an average price target of $206.04.
• Chevron’s latest quarterly results beat EPS expectations at $1.41 versus $1.00, but revenue of $47.56 billion fell short of estimates and EPS declined from $2.18 a year earlier. Investors are now focused on the company’s upcoming second-quarter earnings report.

Janus Henderson Group PLC decreased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 14.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,181,809 shares of the oil and gas company's stock after selling 695,236 shares during the quarter. Janus Henderson Group PLC owned about 0.21% of Chevron worth $865,175,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CVX. Cornerstone Advisory LLC increased its stake in Chevron by 0.9% during the 1st quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company's stock valued at $1,164,000 after purchasing an additional 52 shares in the last quarter. Compton Financial Group LLC lifted its stake in shares of Chevron by 1.9% in the first quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company's stock valued at $609,000 after buying an additional 56 shares in the last quarter. Quantum Portfolio Management LLC lifted its stake in shares of Chevron by 2.7% in the first quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company's stock valued at $435,000 after buying an additional 56 shares in the last quarter. Wealthspire Retirement LLC grew its holdings in shares of Chevron by 0.9% during the first quarter. Wealthspire Retirement LLC now owns 6,530 shares of the oil and gas company's stock valued at $1,351,000 after buying an additional 56 shares during the last quarter. Finally, D.B. Root & Company LLC increased its position in shares of Chevron by 1.0% during the fourth quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company's stock worth $846,000 after acquiring an additional 57 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Geopolitical tensions lifted oil prices. Renewed hostilities involving Iran, U.S. forces and Iran-backed groups reduced hopes that the Strait of Hormuz would quickly reopen, supporting crude prices. Higher commodity prices generally benefit Chevron’s production and profitability. Oil Prices Spike After Iran Launches Surprise Attack on U.S. Forces
• Positive Sentiment: Chevron is benefiting from stronger Venezuelan production. Reports highlighted rising oil output following the U.S. takeover of Venezuela, adding to the company’s production growth narrative and helping CVX outperform many other Dow stocks. Dow Leader Rides Surging Oil Prices And Trump's Venezuela Spoils
• Positive Sentiment: Bank of America’s relative preference supports CVX. BofA downgraded Exxon Mobil to Neutral while maintaining a Buy-rated view on Chevron, providing a favorable analyst comparison for CVX within the large-cap oil sector. Exxon Cut to Neutral at BofA, Which Favors Buy-Rated Chevron
• Neutral Sentiment: Second-quarter earnings are the next major catalyst. Chevron is scheduled to report on July 31. Investors are weighing the benefit of higher oil prices against potentially volatile commodity-driven earnings and the company’s prior year-over-year earnings decline. Pre-Q2 Earnings: Is Chevron Stock a Buy, Hold, or Sell?
• Neutral Sentiment: International expansion remains an opportunity with execution risks. Chevron is discussing Iraqi oil fields and export projects while also seeking U.S. government support to protect its Kazakhstan assets. The initiatives could expand production, but they expose the company to geopolitical and regulatory uncertainty. Chevron Returns to Iraq: What Do the Latest Oilfield Talks Signal?

Chevron Stock Up 2.3%

Chevron stock opened at $191.91 on Thursday. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The stock has a market cap of $382.21 billion, a PE ratio of 33.26, a price-to-earnings-growth ratio of 0.62 and a beta of 0.50. The firm's 50-day simple moving average is $181.81 and its 200 day simple moving average is $184.66. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.18 EPS. Research analysts predict that Chevron Corporation will post 15.61 EPS for the current fiscal year.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 380,000 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the transaction, the director owned 278,045 shares in the company, valued at $53,718,294. The trade was a 57.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.56% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on CVX shares. Jefferies Financial Group reaffirmed a "buy" rating and issued a $216.00 price target on shares of Chevron in a research report on Friday, July 10th. Sanford C. Bernstein lowered their price objective on Chevron from $216.00 to $204.00 and set a "market perform" rating for the company in a research note on Monday, May 11th. TD Cowen raised their target price on Chevron from $197.00 to $200.00 and gave the company a "hold" rating in a report on Wednesday, July 22nd. Mizuho lifted their target price on Chevron from $225.00 to $230.00 and gave the company an "outperform" rating in a research report on Wednesday, May 27th. Finally, Wells Fargo & Company upped their price target on Chevron from $204.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday, April 9th. Nineteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of "Moderate Buy" and a consensus price target of $206.04.

Chevron 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.

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