Ferguson Shapiro LLC Grows Stake in Chevron Co. (NYSE:CVX)

Ferguson Shapiro LLC increased its holdings in Chevron Co. (NYSE:CVX) by 9.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,972 shares of the oil and gas company’s stock after acquiring an additional 268 shares during the quarter. Ferguson Shapiro LLC’s holdings in Chevron were worth $438,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CVX. Eagle Capital Management LLC raised its stake in Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after purchasing an additional 163 shares in the last quarter. Lane & Associates LLC purchased a new position in Chevron in the first quarter worth $345,000. KCM Investment Advisors LLC increased its stake in Chevron by 2.5% in the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after acquiring an additional 8,168 shares during the last quarter. Livelsberger Financial Advisory purchased a new stake in Chevron during the fourth quarter valued at about $46,000. Finally, Hosking Partners LLP bought a new stake in Chevron during the first quarter worth about $4,924,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.5 %

Shares of Chevron stock opened at $151.42 on Friday. The company has a market cap of $276.94 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $170.17. The company’s 50 day moving average is $145.46 and its 200 day moving average is $153.96.

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

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.31%. Chevron’s dividend payout ratio (DPR) is presently 64.55%.

Analysts Set New Price Targets

Several brokerages have recently commented on CVX. UBS Group increased their price objective on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Truist Financial lowered their price objective 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. Mizuho reduced their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $170.00 price target on shares of Chevron in a research note on Tuesday. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.59.

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.