Brookstone Capital Management Has $8.06 Million Stock Position in Chevron Co. (NYSE:CVX)

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

Several other institutional investors have also made changes to their positions in the stock. Miracle Mile Advisors LLC lifted its holdings in shares of Chevron by 0.3% during the 1st quarter. Miracle Mile Advisors LLC now owns 19,980 shares of the oil and gas company’s stock worth $3,260,000 after acquiring an additional 60 shares during the period. First American Trust FSB raised its holdings in shares of Chevron by 1.4% in the 1st quarter. First American Trust FSB now owns 4,469 shares of the oil and gas company’s stock worth $729,000 after buying an additional 61 shares in the last quarter. Zullo Investment Group Inc. boosted its stake in Chevron by 1.7% in the 4th quarter. Zullo Investment Group Inc. now owns 3,740 shares of the oil and gas company’s stock valued at $671,000 after buying an additional 63 shares in the last quarter. Janiczek Wealth Management LLC grew its position in Chevron by 1.8% in the first quarter. Janiczek Wealth Management LLC now owns 3,474 shares of the oil and gas company’s stock valued at $599,000 after acquiring an additional 63 shares during the period. Finally, LWM Advisory Services LLC raised its stake in Chevron by 2.3% during the first quarter. LWM Advisory Services LLC now owns 2,803 shares of the oil and gas company’s stock worth $460,000 after acquiring an additional 64 shares in the last quarter. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

NYSE CVX opened at $167.22 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.13 and a current ratio of 1.43. Chevron Co. has a 52-week low of $140.46 and a 52-week high of $189.68. The business has a 50 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 price-to-earnings ratio of 10.60, a PEG ratio of 0.88 and a beta of 1.18.

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

Chevron Dividend Announcement

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

Insider Buying and Selling at Chevron

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

Analyst Upgrades and Downgrades

CVX has been the topic of several analyst reports. Royal Bank of Canada raised shares of Chevron from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $165.00 to $180.00 in a report on Thursday, June 1st. StockNews.com assumed coverage on shares of Chevron in a report on Thursday, August 17th. They set a “hold” rating for the company. Citigroup reduced their target price on Chevron from $180.00 to $170.00 in a report on Tuesday, July 11th. Truist Financial raised their price target on Chevron from $163.00 to $165.00 and gave the company a “hold” rating in a report on Monday, July 31st. Finally, Piper Sandler reduced their price objective on Chevron from $196.00 to $188.00 in a research note on Tuesday, June 13th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $190.61.

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; 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.