Chevron Co. (NYSE:CVX) Position Boosted by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. lifted its holdings in Chevron Co. (NYSE:CVX) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 537,528 shares of the oil and gas company’s stock after buying an additional 3,387 shares during the period. Chevron makes up approximately 2.0% of Ferguson Wellman Capital Management Inc.’s portfolio, making the stock its 9th biggest holding. Ferguson Wellman Capital Management Inc.’s holdings in Chevron were worth $84,580,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $160.88, for a total value of $603,300.00. Following the completion of the sale, the vice president now directly owns 1,718 shares in the company, valued at $276,391.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Chevron news, CFO Pierre R. Breber sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were 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 owns 6,021 shares of the company’s stock, valued at $987,444. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $160.88, for a total transaction of $603,300.00. Following the transaction, the vice president now directly owns 1,718 shares of the company’s stock, valued at approximately $276,391.84. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. HSBC increased their target price on Chevron from $180.00 to $184.00 in a research note on Wednesday, August 9th. Royal Bank of Canada raised Chevron from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $165.00 to $180.00 in a research note on Thursday, June 1st. Mizuho upped their price target on shares of Chevron from $209.00 to $215.00 and gave the company a “buy” rating in a research report on Monday. JPMorgan Chase & Co. upgraded shares of Chevron from an “underweight” rating to a “neutral” rating and upped their price target for the company from $161.00 to $170.00 in a research report on Wednesday, May 31st. Finally, Citigroup cut their price target on shares of Chevron from $180.00 to $170.00 in a research report on Tuesday, July 11th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average target price of $190.61.

Chevron Stock Performance

Chevron stock opened at $167.22 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.13 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average of $160.80 and a 200-day moving average of $160.15. The firm has a market cap of $312.24 billion, a P/E ratio of 10.60, a P/E/G ratio of 0.88 and a beta of 1.18. Chevron Co. has a 1-year low of $140.46 and a 1-year high of $189.68.

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

Chevron Dividend Announcement

The business also recently disclosed 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 yield of 3.61%. Chevron’s dividend payout ratio (DPR) is presently 38.30%.

Chevron Profile

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.