Guardian Investment Management Increases Holdings in Chevron Co. (NYSE:CVX)

Guardian Investment Management grew its position in shares of Chevron Co. (NYSE:CVX) by 3.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 20,928 shares of the oil and gas company’s stock after acquiring an additional 650 shares during the quarter. Chevron makes up 2.1% of Guardian Investment Management’s holdings, making the stock its 11th largest holding. Guardian Investment Management’s holdings in Chevron were worth $3,031,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. Legacy Investment Solutions LLC purchased a new position in Chevron in the third quarter worth about $29,000. Rational Advisors LLC bought a new position in shares of Chevron in the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron in the third quarter worth approximately $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron during the third quarter valued at approximately $31,000. Finally, Cyrus J. Lawrence LLC increased its holdings in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Truist Financial lifted their price target on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Barclays lifted their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. UBS Group upped their price target on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Bank of America initiated coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Finally, Piper Sandler reduced their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $175.27.

Chevron Stock Performance

NYSE CVX opened at $161.54 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The business has a 50 day simple moving average of $153.93 and a two-hundred day simple moving average of $151.01. The stock has a market capitalization of $290.30 billion, a PE ratio of 17.75, a P/E/G ratio of 2.62 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period last year, the firm posted $3.05 earnings per share. Chevron’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, research analysts predict that Chevron Co. will post 10.39 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is 71.65%.

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.