Bernicke Wealth Management Ltd. Acquires 439 Shares of Chevron Co. (NYSE:CVX)

Bernicke Wealth Management Ltd. grew its holdings in shares of Chevron Co. (NYSE:CVX) by 7.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,627 shares of the oil and gas company’s stock after buying an additional 439 shares during the quarter. Bernicke Wealth Management Ltd.’s holdings in Chevron were worth $721,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CVX. Taylor Cottrill Erickson & Associates Inc. lifted its stake in Chevron by 0.5% in the 4th quarter. Taylor Cottrill Erickson & Associates Inc. now owns 18,079 shares of the oil and gas company’s stock worth $1,967,000 after purchasing an additional 90 shares in the last quarter. Bingham Osborn & Scarborough LLC increased its holdings in shares of Chevron by 0.5% during the 4th quarter. Bingham Osborn & Scarborough LLC now owns 18,273 shares of the oil and gas company’s stock worth $1,988,000 after buying an additional 92 shares during the last quarter. Unison Advisors LLC increased its holdings in shares of Chevron by 0.9% during the 4th quarter. Unison Advisors LLC now owns 10,873 shares of the oil and gas company’s stock worth $1,183,000 after buying an additional 96 shares during the last quarter. Bogart Wealth LLC increased its holdings in shares of Chevron by 0.5% during the 4th quarter. Bogart Wealth LLC now owns 18,554 shares of the oil and gas company’s stock worth $2,018,000 after buying an additional 97 shares during the last quarter. Finally, Private Vista LLC increased its holdings in shares of Chevron by 1.1% during the 4th quarter. Private Vista LLC now owns 9,191 shares of the oil and gas company’s stock worth $1,000,000 after buying an additional 99 shares during the last quarter. 65.39% of the stock is currently owned by hedge funds and other institutional investors.

CVX has been the subject of a number of recent analyst reports. Mizuho restated a “buy” rating and set a $140.00 price target on shares of Chevron in a report on Wednesday, March 6th. Barclays lifted their target price on shares of Chevron from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Royal Bank of Canada raised shares of Chevron to a “sector perform” rating and set a $145.00 price target for the company in a research report on Wednesday, March 6th. Morgan Stanley started coverage on shares of Chevron in a research report on Monday, April 1st. They issued an “overweight” rating and a $146.00 price target for the company. Finally, Bank of America raised shares of Chevron from a “neutral” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Friday, April 12th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Chevron presently has an average rating of “Buy” and a consensus target price of $135.26.

In related news, Chairman Michael K. Wirth sold 33,750 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $125.60, for a total transaction of $4,239,000.00. Following the completion of the transaction, the chairman now owns 33,750 shares of the company’s stock, valued at $4,239,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Enrique Hernandez, Jr. sold 4,200 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $122.13, for a total transaction of $512,946.00. Following the completion of the sale, the director now directly owns 15,689 shares of the company’s stock, valued at approximately $1,916,097.57. The disclosure for this sale can be found here. Insiders have sold 44,800 shares of company stock worth $5,604,221 in the last three months. Insiders own 0.31% of the company’s stock.

Shares of Chevron stock traded up $0.40 on Monday, reaching $124.84. 5,524,160 shares of the stock were exchanged, compared to its average volume of 7,149,143. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 0.90. The stock’s fifty day simple moving average is $120.76. Chevron Co. has a 1-year low of $100.22 and a 1-year high of $128.55. The firm has a market capitalization of $237.03 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 3.59 and a beta of 1.00.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.13. The company had revenue of $35.20 billion for the quarter, compared to analyst estimates of $38.42 billion. Chevron had a net margin of 8.45% and a return on equity of 9.07%. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.90 earnings per share. On average, sell-side analysts anticipate that Chevron Co. will post 7.68 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were paid a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 3.81%. The ex-dividend date was Thursday, May 16th. Chevron’s payout ratio is 57.70%.

About Chevron

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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