Brookstone Capital Management Boosts Holdings in Chevron Co. (NYSE:CVX)

Brookstone Capital Management boosted its stake in Chevron Co. (NYSE:CVX) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,265 shares of the oil and gas company’s stock after acquiring an additional 294 shares during the period. Brookstone Capital Management’s holdings in Chevron were worth $8,060,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Rebalance LLC purchased a new position in Chevron during the 4th quarter worth approximately $26,000. NewSquare Capital LLC boosted its holdings in shares of Chevron by 52.3% in the first quarter. NewSquare Capital LLC now owns 195 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 67 shares during the period. Artemis Wealth Advisors LLC purchased a new position in shares of Chevron during the first quarter worth approximately $33,000. Worth Asset Management LLC acquired a new position in shares of Chevron in the 1st quarter valued at $36,000. Finally, HBC Financial Services PLLC purchased a new stake in Chevron in the 1st quarter valued at $37,000. Institutional investors and hedge funds own 68.87% of the company’s stock.

Chevron Trading Up 0.4 %

Shares of CVX stock opened at $167.22 on Tuesday. Chevron Co. has a fifty-two week low of $140.46 and a fifty-two week high of $189.68. The company has a quick ratio of 1.13, a current ratio of 1.43 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $160.80 and a 200-day simple moving average of $160.15. The stock has a market cap of $312.24 billion, a P/E ratio of 10.60, a P/E/G ratio of 0.88 and a beta of 1.18.

Chevron (NYSE:CVX) last posted its earnings results on Friday, July 28th. The oil and gas company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.13. Chevron had a net margin of 13.54% and a return on equity of 19.48%. The firm had revenue of $48.90 billion during the quarter, compared to the consensus estimate of $48 billion. During the same period last year, the firm posted $5.82 EPS. The firm’s revenue for the quarter was down 28.9% on a year-over-year basis. On average, analysts forecast that Chevron Co. will post 13.23 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 18th were paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend was Thursday, August 17th. Chevron’s payout ratio is currently 38.30%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. UBS Group lifted their price objective on shares of Chevron from $202.00 to $209.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. StockNews.com initiated coverage on Chevron in a research note on Thursday, August 17th. They set a “hold” rating for the company. Piper Sandler lowered their target price on Chevron from $196.00 to $188.00 in a research note on Tuesday, June 13th. HSBC upped their price target on Chevron from $180.00 to $184.00 in a research note on Wednesday, August 9th. Finally, Truist Financial boosted their price objective on shares of Chevron from $163.00 to $165.00 and gave the company a “hold” rating in a research note on Monday, July 31st. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $190.61.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total value of $603,300.00. Following the sale, the vice president now directly owns 1,718 shares in the company, valued at $276,391.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $160.88, for a total value of $603,300.00. Following the completion of the transaction, the vice president now owns 1,718 shares of the company’s stock, valued at $276,391.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Pierre R. Breber sold 25,000 shares of Chevron stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the completion of the sale, the chief financial officer now directly owns 6,021 shares of the company’s stock, valued at $987,444. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

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