Guardian Investment Management Has $3.25 Million Stock Position in Chevron Co. (NYSE:CVX)

Guardian Investment Management reduced its position in shares of Chevron Co. (NYSE:CVX) by 0.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 21,803 shares of the oil and gas company’s stock after selling 159 shares during the period. Chevron comprises about 2.7% of Guardian Investment Management’s portfolio, making the stock its 12th largest holding. Guardian Investment Management’s holdings in Chevron were worth $3,252,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of CVX. Picton Mahoney Asset Management purchased a new stake in shares of Chevron in the third quarter worth approximately $26,000. Valley Forge Investment Consultants Inc. ADV grew its holdings in shares of Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 80 shares in the last quarter. Valued Wealth Advisors LLC bought a new position in shares of Chevron in the fourth quarter valued at approximately $33,000. Worth Asset Management LLC bought a new position in Chevron during the first quarter valued at $36,000. Finally, Legacy Financial Group LLC bought a new position in Chevron during the third quarter valued at $43,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research reports. UBS Group increased their price objective on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Truist Financial cut their price target on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 5th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Monday, January 8th. Finally, Piper Sandler raised their price target on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average price target of $184.75.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Chevron Trading Up 0.6 %

Shares of NYSE:CVX traded up $0.92 during trading on Thursday, reaching $157.32. The company’s stock had a trading volume of 2,935,127 shares, compared to its average volume of 8,500,965. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.38. The firm’s 50 day simple moving average is $155.19 and its two-hundred day simple moving average is $151.86. The stock has a market capitalization of $292.19 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 2.30 and a beta of 1.12.

Chevron (NYSE:CVX) last released its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. During the same quarter in the prior year, the firm posted $4.09 earnings per share. The company’s quarterly revenue was down 16.5% on a year-over-year basis. On average, research analysts predict that Chevron Co. will post 13.56 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.14%. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio is presently 57.39%.

About Chevron

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.