Ferguson Wellman Capital Management Inc. Sells 6,094 Shares of Chevron Co. (NYSE:CVX)

Ferguson Wellman Capital Management Inc. decreased its position in shares of Chevron Co. (NYSE:CVX) by 1.2% in the 3rd quarter, Holdings Channel reports. The fund owned 508,317 shares of the oil and gas company’s stock after selling 6,094 shares during the quarter. Chevron accounts for approximately 1.4% of Ferguson Wellman Capital Management Inc.’s holdings, making the stock its 20th largest position. Ferguson Wellman Capital Management Inc.’s holdings in Chevron were worth $74,860,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CVX. Rational Advisors LLC purchased a new stake in shares of Chevron during the third quarter worth $29,000. Anfield Capital Management LLC raised its stake in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares during the period. Cyrus J. Lawrence LLC lifted its holdings in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Krane Funds Advisors LLC bought a new position in Chevron in the 3rd quarter worth about $47,000. Finally, Livelsberger Financial Advisory purchased a new position in Chevron during the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 1.0 %

Chevron stock traded up $1.54 during trading hours on Thursday, reaching $160.26. The stock had a trading volume of 996,476 shares, compared to its average volume of 7,629,170. The company has a fifty day simple moving average of $148.51 and a 200-day simple moving average of $152.65. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The stock has a market cap of $288.00 billion, a PE ratio of 17.44, a PEG ratio of 3.49 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the previous year, the business earned $3.05 EPS. Chevron’s revenue was down 6.3% compared to the same quarter last year. Analysts forecast that Chevron Co. will post 10.55 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date is Monday, November 18th. Chevron’s payout ratio is 71.65%.

Analyst Ratings Changes

Several equities analysts recently commented on CVX shares. Wells Fargo & Company reduced their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Scotiabank reduced their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Wolfe Research assumed coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Truist Financial upped their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Finally, Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $174.93.

Chevron Company 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; 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.