Chevron Corporation $CVX Shares Purchased by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. increased its position in shares of Chevron Corporation (NYSE:CVX) by 0.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 911,718 shares of the oil and gas company’s stock after purchasing an additional 5,787 shares during the quarter. Chevron makes up approximately 2.2% of Ferguson Wellman Capital Management Inc.’s holdings, making the stock its 10th biggest holding. Ferguson Wellman Capital Management Inc.’s holdings in Chevron were worth $186,182,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVX. First PREMIER Bank lifted its stake in shares of Chevron by 0.8% during the second quarter. First PREMIER Bank now owns 6,450 shares of the oil and gas company’s stock valued at $1,070,000 after acquiring an additional 50 shares during the period. Vanguard Capital Wealth Advisors grew its stake in shares of Chevron by 1.8% during the 2nd quarter. Vanguard Capital Wealth Advisors now owns 2,818 shares of the oil and gas company’s stock worth $467,000 after acquiring an additional 50 shares in the last quarter. Cornerstone Advisory LLC boosted its position in Chevron by 0.9% during the first 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 during the last quarter. Compton Financial Group LLC lifted its stake in 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 acquiring an additional 56 shares during the last quarter. Finally, Quantum Portfolio Management LLC lifted its holdings in Chevron by 2.7% during the 1st quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company’s stock valued at $435,000 after purchasing an additional 56 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Rising crude prices are improving the outlook for Chevron’s upstream earnings and cash flow. Analysts see the company as having potential to reach new highs if the oil rally continues. Chevron: New All-Time Highs In Sight As Oil Surges
• Positive Sentiment: Chevron’s investments in politically challenging regions, including Venezuela and the war-torn Middle East, could provide access to high-value reserves and longer-term production growth if operating and regulatory risks are managed successfully. Why This Oil Giant Keeps Betting on Countries Everyone Else Avoids
• Positive Sentiment: Some market commentators continue to view Chevron as an attractively valued energy major with substantial cash flow, dividend appeal and exposure to higher oil prices. Why Jim Cramer Calls Chevron the King
• Neutral Sentiment: Chevron is heavily searched by investors, increasing visibility but not providing a fundamental change to earnings or valuation. Investors Heavily Search Chevron
• Neutral Sentiment: Chevron is promoting its CFO and moving the executive to lead oil and gas operations, alongside a planned CFO transition. The changes may strengthen operational leadership, but they also highlight heightened speculation about who will succeed CEO Mike Wirth. Chevron Promotes CFO as Succession Drama Heats Up
• Negative Sentiment: Investments in Venezuela and conflict-affected regions carry substantial geopolitical, sanctions, execution and capital-allocation risks, which could offset their potential production benefits. Chevron’s Geopolitical Investments

Insiders Place Their Bets

In other news, insider R. Pate sold 2,470 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total value of $506,621.70. Following the transaction, the insider owned 10,794 shares of the company’s stock, valued at $2,213,957.34. This represents a 18.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hess sold 100,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $194.26, for a total value of $19,426,000.00. Following the completion of the transaction, the director directly owned 178,045 shares in the company, valued at approximately $34,587,021.70. This represents a 35.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,152,582 shares of company stock worth $225,853,661 over the last three months. Corporate insiders own 0.56% of the company’s stock.

Chevron Stock Performance

CVX traded down $0.58 during midday trading on Monday, reaching $206.11. The company had a trading volume of 2,790,153 shares, compared to its average volume of 10,549,233. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The stock has a market cap of $407.23 billion, a PE ratio of 19.78, a P/E/G ratio of 0.59 and a beta of 0.53. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $217.78. The business has a 50-day moving average price of $202.83 and a two-hundred day moving average price of $192.72.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. The business had revenue of $67.20 billion for the quarter, compared to analysts’ expectations of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The firm’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.77 EPS. On average, sell-side analysts expect that Chevron Corporation will post 16.98 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were paid a $1.78 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $7.12 annualized dividend and a yield of 3.5%. Chevron’s dividend payout ratio is currently 68.26%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CVX. Sanford C. Bernstein lifted their price objective on shares of Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. Mizuho set a $224.00 target price on Chevron in a report on Monday, August 3rd. Royal Bank Of Canada increased their price objective on Chevron from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, September 24th. The Goldman Sachs Group reduced their price objective on shares of Chevron from $240.00 to $228.00 and set a “buy” rating for the company in a research report on Tuesday, September 22nd. Finally, Wall Street Zen raised Chevron from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Twenty-one equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $210.87.

Chevron Company Profile

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.