Ferguson Wellman Capital Management Inc. Buys 104,006 Shares of Chevron Co. (NYSE:CVX)

Ferguson Wellman Capital Management Inc. boosted its holdings in Chevron Co. (NYSE:CVX - Free Report) by 16.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 730,975 shares of the oil and gas company's stock after purchasing an additional 104,006 shares during the quarter. Chevron comprises 2.4% of Ferguson Wellman Capital Management Inc.'s investment portfolio, making the stock its 9th largest holding. Ferguson Wellman Capital Management Inc.'s holdings in Chevron were worth $122,285,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. TFB Advisors LLC raised its position in Chevron by 2.4% in the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company's stock valued at $411,000 after purchasing an additional 66 shares during the last quarter. W.H. Cornerstone Investments Inc. raised its position in Chevron by 1.4% during the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock worth $677,000 after buying an additional 66 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Chevron by 0.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock worth $2,207,000 after buying an additional 66 shares during the last quarter. Berkeley Capital Partners LLC raised its position in Chevron by 0.4% during the 4th quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock worth $2,572,000 after buying an additional 67 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC raised its position in Chevron by 6.1% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company's stock worth $171,000 after buying an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Trading Up 0.1%

Shares of Chevron stock traded up $0.12 during mid-day trading on Thursday, hitting $144.90. 6,989,778 shares of the stock were exchanged, compared to its average volume of 8,142,651. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The stock has a market capitalization of $253.05 billion, a price-to-earnings ratio of 14.91, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a 50-day simple moving average of $138.24 and a 200 day simple moving average of $149.42. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. During the same period last year, the company earned $2.93 EPS. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. Research analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.72%. Chevron's dividend payout ratio is currently 78.17%.

Analyst Ratings Changes

A number of equities analysts have commented on CVX shares. Wells Fargo & Company cut their price objective on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a research report on Tuesday, May 6th. UBS Group cut their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. Barclays downgraded shares of Chevron from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Finally, TD Cowen cut their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a report on Monday, May 5th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron has an average rating of "Hold" and an average target price of $160.24.

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; 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.