7,408 Shares of Chevron Corporation $CVX Bought by Bernicke Wealth Management Ltd.

Bernicke Wealth Management Ltd. bought a new stake in Chevron Corporation (NYSE:CVX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,408 shares of the oil and gas company’s stock, valued at approximately $1,513,000.

Other large investors also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Chevron by 3.9% during the 2nd quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company’s stock valued at $28,016,651,000 after purchasing an additional 5,998,852 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Chevron in the 2nd quarter valued at approximately $25,663,729,000. Bank of America Corp DE grew its position in shares of Chevron by 5.1% in the 1st quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company’s stock valued at $5,716,694,000 after purchasing an additional 1,334,976 shares during the period. Amundi grew its position in shares of Chevron by 3.0% in the 1st quarter. Amundi now owns 12,185,436 shares of the oil and gas company’s stock valued at $2,521,166,000 after purchasing an additional 349,416 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Chevron during the 2nd quarter worth approximately $2,378,114,000. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVX. Wall Street Zen upgraded shares of Chevron from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $241.00 price target on shares of Chevron in a research note on Tuesday, October 20th. Jefferies Financial Group upped their price target on shares of Chevron from $216.00 to $233.00 and gave the company a “buy” rating in a report on Monday, August 17th. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $240.00 price target for the company. in a report on Tuesday, November 3rd. Finally, Wells Fargo & Company increased their price objective on shares of Chevron from $230.00 to $268.00 and gave the stock an “overweight” rating in a research report on Monday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $222.96.

Chevron News Roundup

Here’s some of the latest news about CVX:

• Positive Sentiment: Chevron plans to restart its Ralston, Iowa, biodiesel facility, restoring nearly 42 million gallons of annual capacity. A feedstock agreement with Landus Cooperative supports the restart and the company’s renewable-fuels business. Article: What’s Going on with Chevron Shares on Friday?
• Positive Sentiment: Recent quarterly results showed the strength of Chevron’s integrated business: adjusted profit nearly tripled to $10.4 billion, with refining earnings rising 333% and refinery utilization at 98%. The strength came despite production declining 2.6%. Article: Chevron’s Production Fell. Its Profit Nearly Tripled.
• Negative Sentiment: Vice Chairman Mark Nelson sold 112,000 shares, reducing his direct holdings by about 90.6%; CTO Thomas Booth also sold 6,000 shares, cutting his position by half. Insider sales can weigh on sentiment, though the filings do not explain the sellers’ reasons. SEC filing for Mark Nelson’s sale SEC filing for Thomas Booth’s sale

Chevron Stock Up 1.5%

NYSE:CVX opened at $219.56 on Friday. The stock has a 50-day simple moving average of $215.49 and a 200 day simple moving average of $195.58. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $236.48. The company has a market cap of $431.52 billion, a PE ratio of 16.06, a PEG ratio of 0.50 and a beta of 0.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.07 and a current ratio of 1.34.

Chevron (NYSE:CVX) last released its earnings results on Friday, October 30th. The oil and gas company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.87 by $0.41. The firm had revenue of $65.24 billion for the quarter, compared to analysts’ expectations of $61.82 billion. Chevron had a return on equity of 14.49% and a net margin of 11.56%. The business’s quarterly revenue was up 36.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.85 EPS. On average, sell-side analysts expect that Chevron Corporation will post 18.64 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, November 18th. Chevron’s payout ratio is currently 52.08%.

Insider Buying and Selling at Chevron

In related news, insider R. Pate sold 40,700 shares of the stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $226.65, for a total transaction of $9,224,655.00. Following the completion of the transaction, the insider owned 8,791 shares in the company, valued at approximately $1,992,480.15. This represents a 82.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Vice Chairman Mark Nelson sold 112,000 shares of the stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $210.48, for a total transaction of $23,573,760.00. Following the transaction, the insider owned 11,647 shares of the company’s stock, valued at $2,451,460.56. The trade was a 90.58% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 180,370 shares of company stock worth $38,497,149. Company insiders own 0.56% of the company’s stock.

Chevron Profile

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives. The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.