Brookstone Capital Management Has $14.95 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Brookstone Capital Management lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 2.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 103,182 shares of the oil and gas company’s stock after buying an additional 2,073 shares during the period. Brookstone Capital Management’s holdings in Chevron were worth $14,945,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in shares of Chevron during the 3rd quarter worth about $29,000. Rational Advisors LLC acquired a new stake in Chevron in the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron in the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC acquired a new stake in Chevron in the 3rd quarter valued at about $31,000. Finally, Cyrus J. Lawrence LLC lifted its stake in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on CVX shares. Scotiabank lowered their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Royal Bank of Canada increased their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Wells Fargo & Company increased their price target on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Mizuho lowered their price target 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, Barclays raised their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.87.

Chevron Trading Up 1.9 %

NYSE CVX traded up $2.88 during mid-day trading on Monday, reaching $156.02. 3,472,929 shares of the stock were exchanged, compared to its average volume of 6,926,093. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The stock has a 50 day simple moving average of $153.69 and a 200-day simple moving average of $150.95. The stock has a market cap of $280.38 billion, a P/E ratio of 17.15, a P/E/G ratio of 2.93 and a beta of 1.12. 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 earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last year, the firm earned $3.05 earnings per share. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. On average, analysts anticipate that Chevron Co. will post 10.5 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.18%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

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.