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

Ferguson Wellman Capital Management Inc. lifted its position in shares of Chevron Corporation (NYSE:CVX) by 0.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 905,931 shares of the oil and gas company’s stock after acquiring an additional 4,426 shares during the period. Chevron accounts for 1.8% of Ferguson Wellman Capital Management Inc.’s portfolio, making the stock its 13th biggest holding. Ferguson Wellman Capital Management Inc.’s holdings in Chevron were worth $150,167,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CVX. BlackRock Inc. bought a new stake in shares of Chevron during the second quarter valued at approximately $25,663,729,000. State Street Corp grew its holdings in Chevron by 9.1% in the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after buying an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc grew its holdings in Chevron by 6.6% in the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after buying an additional 8,091,570 shares in the last quarter. Geode Capital Management LLC increased its position in Chevron by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock valued at $6,620,187,000 after acquiring an additional 134,890 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Chevron by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company’s stock valued at $5,492,377,000 after acquiring an additional 961,341 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, insider Andrew Benjamin Walz sold 16,800 shares of Chevron stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $201.06, for a total value of $3,377,808.00. Following the transaction, the insider owned 14 shares of the company’s stock, valued at $2,814.84. The trade was a 99.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider R. Hewitt Pate sold 2,470 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total transaction of $506,621.70. Following the completion of the sale, the insider owned 10,794 shares in the company, valued at $2,213,957.34. The trade was a 18.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,152,582 shares of company stock valued at $225,853,661 over the last 90 days. Insiders own 0.56% of the company’s stock.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is reportedly nearing a deal to migrate all of its Venezuelan joint ventures into a new energy framework, potentially allowing greater operational control and key oilfield expansions. The company already accounts for roughly one-quarter of Venezuela’s oil production. Reuters: Chevron to complete deal in Venezuela to migrate, expand oil projects
• Positive Sentiment: Reports indicate Chevron and oil-services company Halliburton are close to agreements to invest billions of dollars in Venezuelan fields. For Chevron, the opportunity could create a long-term production-growth platform and strengthen its position if Venezuela moves further away from OPEC restrictions. Wall Street Journal: Chevron, Other U.S. Firms Near Deal to Invest Billions in Venezuelan Oil Fields
• Neutral Sentiment: Analyst-oriented coverage is comparing Chevron’s performance with TotalEnergies, while other reports highlight Chevron’s investments in nuclear-fusion technology. Fusion could eventually diversify the company beyond hydrocarbons, but the projects remain experimental and are unlikely to materially affect near-term earnings. Yahoo Finance: What Does Chevron Want From Its Nuclear Fusion Push?
• Negative Sentiment: Venezuelan opposition groups have criticized reports that U.S. companies could receive a large stake in the country’s energy industry. Political resistance, sanctions or regulatory uncertainty could delay the agreement, raise investment costs or limit the expected benefits. The Guardian: Venezuelan opposition reacts to potential U.S. oil stake
• Negative Sentiment: Dividend-focused coverage notes that Chevron’s payout remains exposed to commodity-price cycles. Although the dividend is supported by the company’s scale and balance sheet, weaker oil prices or heavy Venezuelan investment requirements could pressure future cash-flow flexibility. 247WallSt: Chevron or PepsiCo: Whose Dividend Is Standing on Thinner Ice?

Analysts Set New Price Targets

Several research firms have recently issued reports on CVX. Royal Bank Of Canada reissued an “outperform” rating and issued a $220.00 price target on shares of Chevron in a research note on Tuesday, May 5th. TD Cowen lifted their price objective on shares of Chevron from $200.00 to $205.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Sanford C. Bernstein upped their price objective on shares of Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. UBS Group reiterated a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. Finally, Jefferies Financial Group reissued a “buy” rating and set a $216.00 target price on shares of Chevron in a research note on Friday, July 10th. Twenty equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $207.48.

Chevron Stock Up 1.1%

Shares of CVX stock opened at $202.04 on Friday. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $214.71. The stock has a market cap of $399.18 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 0.60 and a beta of 0.49. The business’s fifty day moving average is $187.44 and its 200-day moving average is $188.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The company had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. During the same quarter in the previous year, the business earned $1.77 EPS. The company’s quarterly revenue was up 57.4% compared to the same quarter last year. Equities analysts expect that Chevron Corporation will post 16.17 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Chevron Company 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.