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

Ferguson Wellman Capital Management Inc. grew its holdings in Chevron Corporation (NYSE:CVX) by 0.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 901,505 shares of the oil and gas company’s stock after acquiring an additional 3,123 shares during the quarter. Chevron accounts for approximately 2.5% of Ferguson Wellman Capital Management Inc.’s investment portfolio, making the stock its 8th biggest position. Ferguson Wellman Capital Management Inc.’s holdings in Chevron were worth $186,521,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CVX. Dakota Wealth Management lifted its holdings in shares of Chevron by 14.9% during the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company’s stock worth $12,690,000 after acquiring an additional 10,822 shares during the period. Clear Trail Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter valued at $10,167,000. Curtis Advisory Group LLC acquired a new position in shares of Chevron during the 4th quarter worth $1,381,000. Indivisible Partners bought a new stake in shares of Chevron during the 4th quarter worth $1,923,000. Finally, Focus Partners Wealth grew its position in Chevron by 3.2% in the third quarter. Focus Partners Wealth now owns 1,444,281 shares of the oil and gas company’s stock valued at $224,278,000 after acquiring an additional 45,017 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Up 1.3%

NYSE CVX traded up $2.24 during trading hours on Friday, hitting $176.29. The company’s stock had a trading volume of 5,984,338 shares, compared to its average volume of 9,284,713. The company has a market capitalization of $351.10 billion, a PE ratio of 30.55, a price-to-earnings-growth ratio of 0.60 and a beta of 0.50. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71. The company’s 50-day simple moving average is $181.92 and its two-hundred day simple moving average is $181.29. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. The firm had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.18 EPS. Research analysts anticipate that Chevron Corporation will post 15.28 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were issued a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio is 123.40%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CVX shares. Wells Fargo & Company upped their price objective on shares of Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a research report on Thursday, July 2nd. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 price objective on the stock in a research note on Friday, March 20th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research note on Friday. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $220.00 target price on shares of Chevron in a report on Tuesday, May 5th. Nineteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $206.83.

Insider Activity at Chevron

In other Chevron news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director directly owned 278,045 shares of the company’s stock, valued at $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is owned by corporate insiders.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Rising Middle East tensions are pushing crude higher, which can improve Chevron’s upstream profits and make the stock look more attractive as a geopolitical hedge. With Iran Tensions Heating Up Again, Chevron Stock Looks Enticing
• Positive Sentiment: Bullish commentary from Bank of America and other analysts suggests Chevron is well positioned to benefit if Iran-related supply disruptions keep oil prices elevated. CVX Stock Has A New Bull Case
• Positive Sentiment: Chevron announced a five-year gas supply deal with Australia’s Alinta Energy, adding a stable long-term sales stream and reinforcing its gas business. Chevron Australia signs five-year gas supply agreement with Alinta Energy
• Positive Sentiment: Chevron also expanded its technology/licensing efforts and its Microsoft power partnership, which could support long-term growth beyond oil and gas pricing. Can Chevron’s Microsoft Partnership Power the Next Leg of Growth?
• Neutral Sentiment: UBS reiterated a Buy rating, which may help sentiment but does not by itself change Chevron’s fundamentals. UBS Keeps Their Buy Rating on Chevron (CVX)
• Negative Sentiment: New U.S. Russia sanctions proposals could tighten global energy trade flows and add policy uncertainty, even if they may also support oil prices. Bipartisan Senators Reach Agreement With Trump Administration to Advance New Russia Sanctions Bill

About Chevron

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.