Janus Henderson Group PLC Sells 695,236 Shares of Chevron Corporation $CVX

Janus Henderson Group PLC lessened its stake in shares of Chevron Corporation (NYSE:CVX) by 14.3% in the first quarter, according to its most recent Form 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 period. Janus Henderson Group PLC’s holdings in Chevron were worth $865,175,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Midwest Capital Advisors LLC bought a new stake in shares of Chevron in the 1st quarter worth approximately $25,000. Core Wealth Advisors LLC bought a new position in Chevron during the fourth quarter valued at $26,000. Phillip James Consulting Co. bought a new position in Chevron during the fourth quarter valued at $26,000. Basso Capital Management L.P. purchased a new stake in Chevron in the fourth quarter worth $27,000. Finally, Karpus Management Inc. purchased a new stake in Chevron in the fourth quarter worth $27,000. Institutional investors own 72.42% of the company’s stock.

Trending Headlines about 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 Price Performance

Chevron stock opened at $191.91 on Thursday. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71. The business has a fifty day moving average price of $181.81 and a 200-day moving average price of $184.66. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The firm has a market capitalization of $382.21 billion, a P/E ratio of 33.26, a PEG ratio of 0.62 and a beta of 0.50.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. During the same period in the previous year, the company posted $2.18 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that Chevron Corporation will post 15.61 EPS for the current year.

Insider Buying and Selling

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

Analysts Set New Price Targets

CVX has been the topic of a number of recent research reports. BNP Paribas Exane raised Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target on the stock in a research report on Friday, April 17th. Piper Sandler assumed coverage on Chevron in a report on Thursday, July 23rd. They issued an “overweight” rating and a $207.00 price objective for the company. Scotiabank boosted their price objective on Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Tudor Pickering raised shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 price objective on the stock in a report on Thursday, April 9th. Finally, TD Cowen increased their target price on shares of Chevron from $197.00 to $200.00 and gave the stock a “hold” rating in a research report on Wednesday, July 22nd. Nineteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $206.04.

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.