Brookstone Capital Management Has $21.04 Million Stock Holdings in Chevron Corporation $CVX

Brookstone Capital Management raised its holdings in Chevron Corporation (NYSE:CVX) by 11.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 135,499 shares of the oil and gas company’s stock after buying an additional 14,256 shares during the quarter. Brookstone Capital Management’s holdings in Chevron were worth $21,042,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Preservation Advisors LLC bought a new stake in Chevron during the 1st quarter worth about $82,000. Truvestments Capital LLC grew its holdings in shares of Chevron by 106.6% in the 1st quarter. Truvestments Capital LLC now owns 2,173 shares of the oil and gas company’s stock valued at $364,000 after buying an additional 1,121 shares during the period. Northstar Financial Companies Inc. increased its holdings in shares of Chevron by 12.5% in the first quarter. Northstar Financial Companies Inc. now owns 10,540 shares of the oil and gas company’s stock worth $1,763,000 after acquiring an additional 1,168 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management increased its stake in Chevron by 13.4% during the 1st quarter. Gerber Kawasaki Wealth & Investment Management now owns 5,516 shares of the oil and gas company’s stock worth $923,000 after purchasing an additional 651 shares in the last quarter. Finally, TD Capital Management LLC raised its holdings in shares of Chevron by 12.2% during the first quarter. TD Capital Management LLC now owns 1,070 shares of the oil and gas company’s stock worth $179,000 after acquiring an additional 116 shares during the period. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Morgan Stanley boosted their target price on Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Hsbc Global Res raised Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. UBS Group reissued a “buy” rating on shares of Chevron in a research report on Monday, December 1st. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Finally, Barclays cut their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $166.00.

Chevron Trading Down 0.0%

CVX opened at $150.50 on Friday. The firm has a market capitalization of $303.03 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 9.03 and a beta of 0.68. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company’s 50 day moving average price is $152.18 and its two-hundred day moving average price is $152.70. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.14. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The company had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. During the same quarter in the prior year, the firm posted $2.48 earnings per share. The business’s quarterly revenue was down 1.9% on a year-over-year basis. As a group, research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Tuesday, November 18th. Chevron’s payout ratio is currently 96.20%.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 275,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the transaction, the director directly owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This represents a 19.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.21% of the company’s stock.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.