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

Ferguson Wellman Capital Management Inc. increased its stake in shares of Chevron Corporation (NYSE:CVX) by 0.5% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 905,931 shares of the oil and gas company’s stock after acquiring an additional 4,426 shares during the period. Chevron makes up approximately 1.8% of Ferguson Wellman Capital Management Inc.’s holdings, making the stock its 13th largest holding. Ferguson Wellman Capital Management Inc.’s holdings in Chevron were worth $150,167,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Midwest Capital Advisors LLC acquired a new position in shares of Chevron during the first quarter worth $25,000. Main Street Group LTD acquired a new stake in Chevron during the 1st quarter valued at $28,000. Phillip James Consulting Co. acquired a new stake in Chevron during the 4th quarter valued at $26,000. Kilter Group LLC purchased a new stake in Chevron during the 2nd quarter worth $28,000. Finally, Core Wealth Advisors LLC purchased a new stake in Chevron during the 4th quarter worth $26,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other news, insider R. Hewitt Pate sold 2,470 shares of Chevron stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total value of $506,621.70. Following the completion of the transaction, the insider directly owned 10,794 shares of the company’s stock, valued at approximately $2,213,957.34. The trade was a 18.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Andrew Benjamin Walz sold 16,800 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the sale, the insider directly owned 14 shares of the company’s stock, valued at approximately $2,814.84. This represents a 99.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,152,582 shares of company stock valued at $225,853,661. Company insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CVX shares. Morgan Stanley upped their price objective on shares of Chevron from $210.00 to $218.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Piper Sandler assumed coverage on Chevron in a research report on Thursday, July 23rd. They set an “overweight” rating and a $207.00 target price on the stock. Dbs Bank upgraded Chevron to a “moderate buy” rating in a research note on Thursday, August 6th. Barclays reduced their price target on Chevron from $216.00 to $208.00 and set an “equal weight” rating for the company in a report on Monday, August 17th. Finally, Bank of America raised their price objective on Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Twenty research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $207.48.

Chevron Stock Up 1.1%

Shares of Chevron stock opened at $202.04 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The firm has a market cap of $399.18 billion, a P/E ratio of 19.37, a P/E/G ratio of 0.60 and a beta of 0.49. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The business has a 50-day moving average price of $187.44 and a 200 day moving average price of $188.85.

Chevron (NYSE:CVX) last released its earnings results 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. The company had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.Chevron’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.77 EPS. On average, sell-side analysts forecast that Chevron Corporation will post 16.17 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

More Chevron News

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?

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.