Brookstone Capital Management Buys 10,599 Shares of Chevron Corporation (NYSE:CVX)

Brookstone Capital Management increased its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 10.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 113,781 shares of the oil and gas company's stock after buying an additional 10,599 shares during the period. Brookstone Capital Management's holdings in Chevron were worth $19,034,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. IMG Wealth Management Inc. acquired a new position in shares of Chevron in the fourth quarter valued at about $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron in the 4th quarter valued at about $29,000. 10Elms LLP acquired a new position in shares of Chevron during the 4th quarter worth approximately $29,000. Fairway Wealth LLC grew its position in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 88 shares in the last quarter. Finally, IFS Advisors LLC increased its holdings in shares of Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after purchasing an additional 116 shares during the period. Institutional investors own 72.42% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CVX shares. BNP Paribas cut Chevron to a "cautious" rating in a research note on Tuesday, April 15th. DZ Bank downgraded Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a research report on Tuesday, May 6th. Wells Fargo & Company reissued an "overweight" rating and set a $165.00 target price (up from $164.00) on shares of Chevron in a report on Thursday, June 26th. Barclays cut Chevron from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Finally, Mizuho cut their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $160.41.

Chevron Trading Up 0.2%

Shares of Chevron stock opened at $148.23 on Friday. The firm's 50 day moving average is $140.97 and its 200 day moving average is $148.07. The firm has a market capitalization of $258.86 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 2.52 and a beta of 0.83. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. During the same quarter in the previous year, the firm posted $2.93 earnings per share. The company's revenue was down 2.3% on a year-over-year basis. Equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.61%. Chevron's payout ratio is presently 78.17%.

Chevron Company 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.

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