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

Bernicke Wealth Management Ltd. purchased a new stake in Chevron Corporation (NYSE:CVX) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 7,408 shares of the oil and gas company’s stock, valued at approximately $1,513,000.

Several other institutional investors have also recently made changes to their positions in CVX. State Street Corp grew its stake in shares of Chevron by 3.9% in the second 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 buying an additional 5,998,852 shares in the last quarter. BlackRock Inc. acquired a new position in Chevron during the second quarter worth $25,663,729,000. Bank of America Corp DE raised its position in Chevron by 5.1% during the first quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company’s stock worth $5,716,694,000 after acquiring an additional 1,334,976 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Chevron during the second quarter worth $2,378,114,000. Finally, Amundi raised its position in Chevron by 14.1% during the second quarter. Amundi now owns 13,900,271 shares of the oil and gas company’s stock worth $2,304,109,000 after acquiring an additional 1,714,835 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

More Chevron News

Here’s some of the latest news about CVX:

• 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.
• Neutral Sentiment: Barclays raised its price target from $244 to $248 but kept an “equal weight” rating, while Sanford C. Bernstein lowered its target from $248 to $233 and maintained “market perform.” The differing updates indicate mixed analyst sentiment.
• 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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. TD Cowen lifted their price objective on shares of Chevron from $215.00 to $225.00 and gave the company a “hold” rating in a research report on Monday, October 12th. JPMorgan Chase & Co. upped their target price on shares of Chevron from $190.00 to $222.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. HSBC set a $90.00 target price on shares of Chevron in a research note on Friday, September 25th. Zacks Research upgraded Chevron from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Finally, Dbs Bank raised Chevron to a “moderate buy” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $222.96.

Insider Transactions at Chevron

In other Chevron news, insider R. Pate sold 40,700 shares of the company’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total value of $9,224,655.00. Following the transaction, the insider directly owned 8,791 shares of the company’s stock, valued at $1,992,480.15. This represents a 82.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Andrew Walz sold 16,800 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $201.06, for a total value of $3,377,808.00. Following the completion of the transaction, the insider directly owned 14 shares in the company, valued at approximately $2,814.84. This represents a 99.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 180,370 shares of company stock valued at $38,497,149. 0.56% of the stock is currently owned by company insiders.

Chevron Stock Up 1.5%

Chevron stock opened at $219.56 on Friday. The company’s 50-day moving average price is $215.49 and its two-hundred day moving average price is $195.58. The company has a quick ratio of 1.07, a current ratio of 1.34 and a debt-to-equity ratio of 0.16. The stock has a market cap of $431.52 billion, a P/E ratio of 16.06, a P/E/G ratio of 0.50 and a beta of 0.47. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $236.48.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 30th. The oil and gas company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.87 by $0.41. Chevron had a return on equity of 14.49% and a net margin of 11.56%. The company had revenue of $65.24 billion during the quarter, compared to analysts’ expectations of $61.82 billion. During the same quarter in the previous year, the company posted $1.85 earnings per share. The business’s revenue was up 36.3% on a year-over-year basis. As a group, analysts expect that Chevron Corporation will post 18.64 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be paid a dividend of $1.78 per share. The ex-dividend date is Wednesday, November 18th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.2%. Chevron’s dividend payout ratio (DPR) is 52.08%.

Chevron Company 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.