Creative Planning Has Lowered Holding in Chevron New (CVX) by $592,074 as Market Value Declined; As Wells Fargo (WFC) Stock Value Rose, Holder Check Capital Management Trimmed Its Stake

September 19, 2018 - By Theresa McIntyre

Wells Fargo & Company (NYSE:WFC) Logo

Creative Planning decreased its stake in Chevron Corp New (CVX) by 1.73% based on its latest 2018Q2 regulatory filing with the SEC. Creative Planning sold 4,699 shares as the company’s stock declined 8.88% while stock markets rallied. The institutional investor held 267,214 shares of the integrated oil company at the end of 2018Q2, valued at $33.78M, down from 271,913 at the end of the previous reported quarter. Creative Planning who had been investing in Chevron Corp New for a number of months, seems to be less bullish one the $229.31B market cap company. The stock increased 1.31% or $1.54 during the last trading session, reaching $119.67. About 1.63M shares traded. Chevron Corporation (NYSE:CVX) has risen 2.93% since September 19, 2017 and is uptrending. It has underperformed by 12.69% the S&P500. Some Historical CVX News: 21/05/2018 – Glencore Is Said to Near $1 Billion Chevron Southern Africa Deal; 16/05/2018 – CHEVRON, PTTEP, MUBADALA, TOTAL, OMV SUBMIT THAI AUCTION DOCS; 28/05/2018 – Chevron restores production on Gulf of Mexico platforms after storm; 27/04/2018 – CHEVRON CORP CVX.N CHIEF FINANCIAL OFFICER PAT YARRINGTON EXPECTS WHEATSTONE TRAIN 2 TO BE PRODUCING LATER IN SECOND QUARTER; 24/04/2018 – Texas Emissions: 282702 – CHEVRON PHILLIPS CHEMICAL SWEENY OLD OCEAN FACILITIES; 30/04/2018 – CHEVRON PRESIDENT JEFF SHELLEBARGER SPEAKS AT OTC PRESENTATION; 25/04/2018 – CHEVRON SAYS EXECUTIVE TEAM IN VENEZUELA REMAINS IN PLACE; 09/03/2018 – SA’S COMPETITION TRIBUNAL- REBRANDING COSTS FOR PRIVATE SERVICE STATIONS AND 6 BLN RAND REFINERY UPGRADE SOME CONDITIONS IN APPROVED SINOPEC MERGER WITH CHEVRON SA; 13/03/2018 – Cal EMA Spills: SPILL Report – Chevron – 03/13/2018 05:38 PM; 05/03/2018 – EXCLUSIVE-CHEVRON IN TALKS WITH MULTIPLE PARTIES INCLUDING MALAYSIA’S PETRONAS ABOUT SELLING A MINORITY STAKE IN LNG PROJECT

Check Capital Management Inc decreased its stake in Wells Fargo (WFC) by 1.49% based on its latest 2018Q2 regulatory filing with the SEC. Check Capital Management Inc sold 15,583 shares as the company’s stock rose 1.41% with the market. The hedge fund held 1.03M shares of the major banks company at the end of 2018Q2, valued at $56.95 million, down from 1.04M at the end of the previous reported quarter. Check Capital Management Inc who had been investing in Wells Fargo for a number of months, seems to be less bullish one the $266.91 billion market cap company. The stock increased 1.69% or $0.92 during the last trading session, reaching $55.42. About 6.45 million shares traded. Wells Fargo & Company (NYSE:WFC) has risen 8.47% since September 19, 2017 and is uptrending. It has underperformed by 7.15% the S&P500. Some Historical WFC News: 04/05/2018 – Union Investment Achieves $480 Million Recovery for Shareholders in Wells Fargo Securities Class Action; 12/04/2018 – Silgan Presenting at Wells Fargo Industrials Conference May 8; 13/04/2018 – WELLS FARGO CFO SHREWSBERRY COMMENTS ON EARNINGS CALL; 02/05/2018 – Wells Fargo Advisors LLC Exits Position in Welltower; 16/03/2018 – Justice Department Widens Wells Fargo Sales Investigation to Wealth Management; 17/05/2018 – Enable Midstream Prtnr Cut to Market Perform From Outperform by Wells Fargo; 23/04/2018 – WELLS FARGO CITES ADDED LEGAL ACCRUAL ON $1B PENALTY; 13/04/2018 – WELLS FARGO 1Q PROVISION FOR CREDIT LOSSES $191M, EST. $729.4M; 08/05/2018 – Sonoco at Wells Fargo Industrials Conference Tomorrow; 13/04/2018 – Wells Fargo on Track to Achieve Target of $4 Billion in Expense Reductions by the End of 2019

Investors sentiment increased to 0.72 in 2018 Q2. Its up 0.13, from 0.59 in 2018Q1. It is positive, as 69 investors sold WFC shares while 705 reduced holdings. 113 funds opened positions while 443 raised stakes. 3.60 billion shares or 0.58% less from 3.62 billion shares in 2018Q1 were reported. Sky Inv Group Ltd Company accumulated 5,540 shares. Private Advisor Group Inc Ltd Limited Liability Company stated it has 121,178 shares. Sanders Cap Ltd, New York-based fund reported 15.71M shares. Hendershot has invested 0.09% in Wells Fargo & Company (NYSE:WFC). Hrt Fin Limited Liability Company has 0.26% invested in Wells Fargo & Company (NYSE:WFC) for 11,276 shares. Lowe Brockenbrough And Incorporated reported 0.76% of its portfolio in Wells Fargo & Company (NYSE:WFC). 44,662 were accumulated by Washington Trust State Bank. 1.93 million were accumulated by Samlyn Capital Ltd Liability Corporation. Private Wealth Prns Ltd holds 5,986 shares or 0.06% of its portfolio. Hm Payson And has 438,661 shares. Fred Alger Mngmt Incorporated reported 33,116 shares or 0.01% of all its holdings. Tuttle Tactical owns 29,088 shares or 1.09% of their US portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) accumulated 1.06 million shares. Palladium Prns Llc invested 0.61% in Wells Fargo & Company (NYSE:WFC). 1.31M are owned by Fjarde Ap.

Since May 24, 2018, it had 0 insider purchases, and 2 sales for $7.27 million activity. Modjtabai Avid had sold 100,000 shares worth $5.87 million on Tuesday, August 7.

Among 39 analysts covering Wells Fargo & Company (NYSE:WFC), 17 have Buy rating, 7 Sell and 15 Hold. Therefore 44% are positive. Wells Fargo & Company had 155 analyst reports since July 29, 2015 according to SRatingsIntel. The rating was maintained by Deutsche Bank with “Buy” on Thursday, September 22. Nomura maintained it with “Buy” rating and $65 target in Thursday, September 28 report. The stock of Wells Fargo & Company (NYSE:WFC) earned “Hold” rating by Oppenheimer on Friday, July 14. Keefe Bruyette & Woods maintained Wells Fargo & Company (NYSE:WFC) rating on Sunday, April 15. Keefe Bruyette & Woods has “Hold” rating and $5500 target. Morgan Stanley maintained it with “Underweight” rating and $60 target in Monday, April 16 report. On Friday, October 6 the stock rating was maintained by RBC Capital Markets with “Buy”. On Thursday, December 1 the stock rating was downgraded by Susquehanna to “Neutral”. The firm has “Hold” rating given on Sunday, April 15 by Jefferies. Jefferies maintained Wells Fargo & Company (NYSE:WFC) rating on Friday, July 7. Jefferies has “Hold” rating and $6200 target. BMO Capital Markets maintained it with “Hold” rating and $59.0 target in Thursday, January 4 report.

Analysts await Wells Fargo & Company (NYSE:WFC) to report earnings on October, 12 before the open. They expect $1.17 EPS, up 12.50% or $0.13 from last year’s $1.04 per share. WFC’s profit will be $5.63 billion for 11.84 P/E if the $1.17 EPS becomes a reality. After $1.08 actual EPS reported by Wells Fargo & Company for the previous quarter, Wall Street now forecasts 8.33% EPS growth.

Check Capital Management Inc, which manages about $796.94 million and $1.89 billion US Long portfolio, upped its stake in Johnson & Johnson (NYSE:JNJ) by 14,127 shares to 17,100 shares, valued at $2.08 million in 2018Q2, according to the filing. It also increased its holding in Berkshire Hathaway (Call) (BRKB) by 192,600 shares in the quarter, for a total of 3.12M shares, and has risen its stake in Lkq Corp (NASDAQ:LKQ).

More important recent Wells Fargo & Company (NYSE:WFC) news were published by: Bizjournals.com which released: “How Charlotte’s largest banks fared in latest FDIC rankings” on September 18, 2018, also Livetradingnews.com published article titled: “Wells Fargo & Company (NYSE:WFC) Wells Fargo can’t wake up from the nightmare”, Bizjournals.com published: “Wells Fargo lays off 137 from Orlando mortgage operations” on August 23, 2018. More interesting news about Wells Fargo & Company (NYSE:WFC) was released by: Bizjournals.com and their article: “High-profile Charlotte figures, major companies pitch in with Florence relief” with publication date: September 19, 2018.

Among 37 analysts covering Chevron Corporation (NYSE:CVX), 27 have Buy rating, 0 Sell and 10 Hold. Therefore 73% are positive. Chevron Corporation had 129 analyst reports since August 4, 2015 according to SRatingsIntel. The firm earned “Outperform” rating on Thursday, December 15 by Macquarie Research. The firm has “Equal Weight” rating given on Tuesday, January 12 by Barclays Capital. Jefferies maintained it with “Buy” rating and $130.0 target in Tuesday, August 29 report. The stock has “Buy” rating by Cowen & Co on Tuesday, October 24. The firm has “Hold” rating by HSBC given on Tuesday, January 10. The rating was maintained by RBC Capital Markets with “Sell” on Friday, August 18. The firm earned “Buy” rating on Friday, July 28 by BMO Capital Markets. The firm has “Buy” rating by BMO Capital Markets given on Friday, September 22. Macquarie Research downgraded Chevron Corporation (NYSE:CVX) on Wednesday, June 21 to “Neutral” rating. The firm has “Buy” rating by Jefferies given on Friday, January 19.

Creative Planning, which manages about $13.73 billion and $25.46 billion US Long portfolio, upped its stake in Ishares Tr by 62,020 shares to 86,593 shares, valued at $2.60 million in 2018Q2, according to the filing. It also increased its holding in Monster Beverage Corp New by 64,022 shares in the quarter, for a total of 64,522 shares, and has risen its stake in Northern Tr Corp (NASDAQ:NTRS).

Investors sentiment increased to 1.03 in 2018 Q2. Its up 0.13, from 0.9 in 2018Q1. It increased, as 33 investors sold CVX shares while 684 reduced holdings. 136 funds opened positions while 604 raised stakes. 1.19 billion shares or 0.47% more from 1.19 billion shares in 2018Q1 were reported. Hennessy Advisors, California-based fund reported 93,855 shares. Bluemountain Mgmt Ltd Liability Corp holds 0.05% or 19,975 shares in its portfolio. 3.23 million are held by Alleghany Corp De. 132,400 were accumulated by Sensato Investors Limited. The Ohio-based Cleararc Capital Inc has invested 0.87% in Chevron Corporation (NYSE:CVX). Burt Wealth has 2,721 shares for 0.16% of their portfolio. Shufro Rose And Commerce Ltd Liability holds 39,767 shares or 0.48% of its portfolio. 16,305 were accumulated by Plancorp Limited Liability Corp. Miracle Mile Advisors Ltd Limited Liability Company invested in 3,888 shares. 18,874 were accumulated by Peoples Financial Services Corporation. 473,873 were reported by Kames Cap Public Limited. Board Of Trustees Of The Leland Stanford Junior University reported 2,000 shares. Principal Financial Gru has invested 0.55% in Chevron Corporation (NYSE:CVX). Charter accumulated 1.69% or 111,173 shares. Of Vermont invested in 1.12% or 98,888 shares.

Since April 17, 2018, it had 0 insider buys, and 10 selling transactions for $50.35 million activity. $16.64M worth of stock was sold by Wirth Michael K on Monday, May 7. $1.23 million worth of Chevron Corporation (NYSE:CVX) was sold by JOHNSON JAMES WILLIAM on Tuesday, May 22. $3.26M worth of Chevron Corporation (NYSE:CVX) was sold by Breber Pierre R. Pate R. Hewitt also sold $3.11M worth of Chevron Corporation (NYSE:CVX) shares. Yarrington Patricia E sold 135,000 shares worth $17.55 million.

More important recent Chevron Corporation (NYSE:CVX) news were published by: Seekingalpha.com which released: “500000 BPD Could Come Back Online, And Why That Matters To Chevron” on August 27, 2018, also Seekingalpha.com published article titled: “Chevron: Undervalued But Note This Key Risk”, Finance.Yahoo.com published: “Is Chevron Corporation (NYSE:CVX) A Smart Pick For Income Investors?” on September 08, 2018. More interesting news about Chevron Corporation (NYSE:CVX) was released by: Seekingalpha.com and their article: “Chevron: Cash Flow Is King” with publication date: September 06, 2018.

Chevron Corporation (NYSE:CVX) Institutional Positions Chart

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