First Horizon Corp Buys Shares of 73,069 Chevron Corporation $CVX

First Horizon Corp purchased a new position in Chevron Corporation (NYSE:CVX) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 73,069 shares of the oil and gas company’s stock, valued at approximately $11,347,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vicus Capital increased its stake in Chevron by 3.7% in the third quarter. Vicus Capital now owns 5,459 shares of the oil and gas company’s stock valued at $848,000 after acquiring an additional 197 shares during the last quarter. Pinnacle Bancorp Inc. lifted its stake in Chevron by 3.5% during the third quarter. Pinnacle Bancorp Inc. now owns 11,923 shares of the oil and gas company’s stock worth $1,852,000 after purchasing an additional 400 shares during the last quarter. MGO One Seven LLC boosted its holdings in shares of Chevron by 24.8% in the 3rd quarter. MGO One Seven LLC now owns 36,295 shares of the oil and gas company’s stock worth $5,636,000 after purchasing an additional 7,218 shares in the last quarter. Nexus Investment Management ULC increased its position in shares of 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 purchasing an additional 65 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of Chevron by 23.6% during the 3rd quarter. Meeder Asset Management Inc. now owns 833 shares of the oil and gas company’s stock valued at $129,000 after buying an additional 159 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In related news, insider Alana K. Knowles sold 7,956 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider owned 1,207 shares in the company, valued at $199,215.35. This represents a 86.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael K. Wirth sold 320,700 shares of Chevron stock in a transaction on Monday, January 5th. The shares were sold at an average price of $162.99, for a total transaction of $52,270,893.00. Following the completion of the sale, the chief executive officer owned 14,450 shares in the company, valued at approximately $2,355,205.50. This trade represents a 95.69% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 631,990 shares of company stock worth $99,716,808. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Zacks Research raised Chevron from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 23rd. Morgan Stanley upped their price objective on shares of Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Chevron in a report on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Finally, Bank of America reduced their price objective on Chevron from $183.00 to $180.00 and set a “buy” rating on the stock in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Chevron currently has a consensus rating of “Hold” and an average price target of $167.14.

Chevron News Summary

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 Trading Up 1.8%

NYSE:CVX opened at $162.15 on Monday. The firm 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. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. The company has a fifty day moving average of $152.31 and a 200 day moving average of $153.56. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The business had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The company’s revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.48 EPS. On average, research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a yield of 4.2%. Chevron’s dividend payout ratio is presently 96.20%.

About Chevron

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.