Federated Hermes Inc. Acquires 186,895 Shares of Chevron Corporation $CVX

Federated Hermes Inc. grew its holdings in Chevron Corporation (NYSE:CVX) by 6.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,224,609 shares of the oil and gas company’s stock after buying an additional 186,895 shares during the quarter. Chevron comprises approximately 0.9% of Federated Hermes Inc.’s portfolio, making the stock its 15th largest holding. Federated Hermes Inc.’s holdings in Chevron were worth $500,750,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tobias Financial Advisors Inc. bought a new stake in Chevron during the 3rd quarter worth about $295,000. Cambiar Investors LLC lifted its position in shares of Chevron by 35.1% during the third quarter. Cambiar Investors LLC now owns 350,028 shares of the oil and gas company’s stock worth $54,356,000 after purchasing an additional 91,027 shares in the last quarter. Truist Financial Corp grew its stake in shares of Chevron by 0.4% during the third quarter. Truist Financial Corp now owns 1,403,222 shares of the oil and gas company’s stock valued at $217,906,000 after purchasing an additional 5,535 shares during the last quarter. EPG Wealth Management LLC increased its holdings in shares of Chevron by 6.1% in the third quarter. EPG Wealth Management LLC now owns 13,192 shares of the oil and gas company’s stock valued at $2,049,000 after purchasing an additional 764 shares in the last quarter. Finally, Novare Capital Management LLC increased its holdings in shares of Chevron by 1.1% in the third quarter. Novare Capital Management LLC now owns 62,273 shares of the oil and gas company’s stock valued at $9,670,000 after purchasing an additional 663 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on CVX. Hsbc Global Res upgraded Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Zacks Research upgraded Chevron from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 23rd. UBS Group reiterated a “buy” rating on shares of Chevron in a research report on Monday, December 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research note on Wednesday, January 21st. Finally, Morgan Stanley lowered their price target on shares of Chevron from $180.00 to $174.00 and set an “overweight” rating for the company in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $170.00.

Insider Activity

In related news, CEO Michael K. Wirth sold 320,700 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $162.99, for a total transaction of $52,270,893.00. Following the sale, the chief executive officer owned 14,450 shares of the company’s stock, valued at approximately $2,355,205.50. This trade represents a 95.69% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John B. Hess sold 275,000 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the transaction, the director directly owned 1,128,045 shares of the company’s stock, valued at approximately $170,052,783.75. The trade was a 19.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 635,190 shares of company stock worth $100,254,408 in the last 90 days. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $169.03 on Wednesday. The stock has a market cap of $340.35 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 11.83 and a beta of 0.70. The stock has a 50-day moving average of $155.08 and a 200-day moving average of $155.03. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86. Chevron Corporation has a one year low of $132.04 and a one year high of $169.37.

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

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th were given a $1.71 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.0%. Chevron’s dividend payout ratio is currently 96.20%.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Board strengthening — Chevron added Thomas W. Horton, a former American Airlines CEO and partner at Global Infrastructure Partners, to its board and Audit Committee, boosting financial and governance expertise that can support investor confidence. Thomas W. Horton joins Chevron’s Board of Directors
• Positive Sentiment: Exploration upside — Chevron-led JV reported a “significant” offshore oil discovery in Nigeria, which could add near- to medium-term production optionality and reserve value if developed. Chevron-led JV makes ‘significant’ oil discovery offshore Nigeria
• Positive Sentiment: Libya re-entry — Chevron signed an MoU with Libya’s National Oil Corporation to explore oil and gas opportunities, reopening access to a market it has largely avoided for over a decade. That expands upstream growth avenues. Chevron Signs MoU With Libya’s NOC to Boost Oil and Gas Exploration
• Neutral Sentiment: Near-term focus on earnings — Analysts and outlets are positioning around Chevron’s Q4 results due Jan. 30; commentary highlights steady cash generation but suggests limited near-term upside absent stronger commodity moves. That frames investor expectations. Here’s How to Play Chevron Stock Before Q4 Earnings Release
• Neutral Sentiment: Positive media mention — Jim Cramer reiterated favor for Chevron as a consistent cash generator, a sentiment that can support retail interest but is not a material driver on its own. Jim Cramer on Chevron: “It’s been my favorite for a very long time because it’s so darn consistent”
• Negative Sentiment: Deal risk on West Qurna-2 — Reuters reports Chevron is seeking improved commercial terms from Iraq before taking over Lukoil’s stake in the West Qurna-2 field. That negotiation could delay the asset transfer or reduce near-term upside if terms aren’t improved. Exclusive: Chevron seeks better terms from Iraq before taking over Lukoil oilfield, sources say
• Negative Sentiment: Regulatory exposure — Chevron has ramped Venezuelan oil shipments while U.S. oversight tightens; that increases near-term compliance and political risk which could complicate volumes or timing. Chevron ramps up Venezuelan oil shipments as US tightens control

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.