Ferguson Wellman Capital Management Inc. Has $84.58 Million Stake in Chevron Co. (NYSE:CVX)

Ferguson Wellman Capital Management Inc. lifted its holdings in Chevron Co. (NYSE:CVX) by 0.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 537,528 shares of the oil and gas company’s stock after purchasing an additional 3,387 shares during the quarter. Chevron accounts for approximately 2.0% of Ferguson Wellman Capital Management Inc.’s holdings, making the stock its 9th largest position. Ferguson Wellman Capital Management Inc.’s holdings in Chevron were worth $84,580,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Miracle Mile Advisors LLC increased its position in shares of Chevron by 0.3% during the first quarter. Miracle Mile Advisors LLC now owns 19,980 shares of the oil and gas company’s stock valued at $3,260,000 after purchasing an additional 60 shares during the period. First American Trust FSB boosted its stake in Chevron by 1.4% in the 1st quarter. First American Trust FSB now owns 4,469 shares of the oil and gas company’s stock valued at $729,000 after buying an additional 61 shares in the last quarter. Zullo Investment Group Inc. boosted its stake in Chevron by 1.7% in the 4th quarter. Zullo Investment Group Inc. now owns 3,740 shares of the oil and gas company’s stock valued at $671,000 after buying an additional 63 shares in the last quarter. Janiczek Wealth Management LLC boosted its stake in Chevron by 1.8% in the 1st quarter. Janiczek Wealth Management LLC now owns 3,474 shares of the oil and gas company’s stock valued at $599,000 after buying an additional 63 shares in the last quarter. Finally, LWM Advisory Services LLC boosted its stake in Chevron by 2.3% in the 1st quarter. LWM Advisory Services LLC now owns 2,803 shares of the oil and gas company’s stock valued at $460,000 after buying an additional 64 shares in the last quarter. Institutional investors own 68.87% of the company’s stock.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total transaction of $603,300.00. Following the completion of the transaction, the vice president now directly owns 1,718 shares of the company’s stock, valued at $276,391.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Pierre R. Breber sold 25,000 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the completion of the transaction, the chief financial officer now directly owns 6,021 shares of the company’s stock, valued at $987,444. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $160.88, for a total value of $603,300.00. Following the transaction, the vice president now directly owns 1,718 shares of the company’s stock, valued at $276,391.84. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Chevron Trading Up 0.4 %

NYSE CVX opened at $167.22 on Tuesday. The stock has a 50-day simple moving average of $160.80 and a 200 day simple moving average of $160.15. The company has a market capitalization of $312.24 billion, a PE ratio of 10.60, a P/E/G ratio of 0.88 and a beta of 1.18. The company has a current ratio of 1.43, a quick ratio of 1.13 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $140.46 and a 12 month high of $189.68.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, July 28th. The oil and gas company reported $3.08 EPS for the quarter, beating analysts’ consensus estimates of $2.95 by $0.13. The business had revenue of $48.90 billion during the quarter, compared to the consensus estimate of $48 billion. Chevron had a return on equity of 19.48% and a net margin of 13.54%. The firm’s revenue was down 28.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.82 earnings per share. Research analysts forecast that Chevron Co. will post 13.23 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 18th were issued a $1.51 dividend. The ex-dividend date was Thursday, August 17th. This represents a $6.04 annualized dividend and a dividend yield of 3.61%. Chevron’s dividend payout ratio (DPR) is currently 38.30%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CVX shares. Citigroup decreased their price target on Chevron from $180.00 to $170.00 in a research note on Tuesday, July 11th. HSBC boosted their price objective on Chevron from $180.00 to $184.00 in a research note on Wednesday, August 9th. Piper Sandler reduced their price objective on Chevron from $196.00 to $188.00 in a research note on Tuesday, June 13th. Mizuho boosted their price objective on Chevron from $209.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday. Finally, UBS Group boosted their price objective on Chevron from $202.00 to $209.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $190.61.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.