Ferguson Shapiro LLC Acquires 268 Shares of Chevron Co. (NYSE:CVX)

Ferguson Shapiro LLC grew its holdings in shares of Chevron Co. (NYSE:CVX) by 9.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,972 shares of the oil and gas company’s stock after buying an additional 268 shares during the period. Ferguson Shapiro LLC’s holdings in Chevron were worth $438,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of CVX. Massachusetts Financial Services Co. MA boosted its position in shares of Chevron by 55.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock worth $1,335,492,000 after purchasing an additional 3,048,819 shares in the last quarter. Wulff Hansen & CO. raised its holdings in Chevron by 15,542.0% during the second quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock worth $183,896,000 after buying an additional 1,168,137 shares during the last quarter. Global Assets Advisory LLC acquired a new position in shares of Chevron during the first quarter valued at about $156,482,000. Confluence Investment Management LLC bought a new stake in shares of Chevron during the first quarter worth about $123,681,000. Finally, Capital International Investors raised its holdings in shares of Chevron by 5.9% in the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after acquiring an additional 743,042 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Scotiabank cut their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday. Wolfe Research assumed coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. UBS Group lifted their price objective on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Truist Financial lowered their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $177.59.

Chevron Stock Up 0.5 %

CVX stock opened at $151.42 on Friday. The company has a market capitalization of $276.94 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a fifty day moving average of $145.46 and a 200-day moving average of $153.96. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $170.17.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the business posted $3.08 earnings per share. As a group, equities research analysts predict that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.31%. Chevron’s dividend payout ratio is currently 64.55%.

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; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.