Guardian Capital LP Increases Stock Position in Chevron Co. (NYSE:CVX)

Guardian Capital LP lifted its holdings in Chevron Co. (NYSE:CVX) by 12.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 14,954 shares of the oil and gas company’s stock after purchasing an additional 1,600 shares during the period. Guardian Capital LP’s holdings in Chevron were worth $2,166,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. IMG Wealth Management Inc. purchased a new stake in shares of Chevron in the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Chevron during the fourth quarter valued at approximately $29,000. Fairway Wealth LLC lifted its position in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 88 shares during the last quarter. Navigoe LLC acquired a new stake in Chevron in the fourth quarter valued at approximately $33,000. Finally, New Wave Wealth Advisors LLC purchased a new position in Chevron in the fourth quarter worth $39,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $139.30 on Wednesday. The stock has a 50-day simple moving average of $150.96 and a two-hundred day simple moving average of $152.82. The firm has a market capitalization of $245.25 billion, a P/E ratio of 14.33, a PEG ratio of 1.46 and a beta of 0.93. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the previous year, the business posted $3.45 EPS. On average, equities analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.91%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent analyst reports. Redburn Atlantic reissued a “sell” rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Wells Fargo & Company lowered their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Truist Financial lowered their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Raymond James lowered their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Chevron has an average rating of “Hold” and a consensus price target of $166.06.

Chevron 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.