Guardian Partners Inc. Purchases New Shares in Chevron Co. (NYSE:CVX)

Guardian Partners Inc. bought a new position in shares of Chevron Co. (NYSE:CVX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 68,856 shares of the oil and gas company's stock, valued at approximately $10,349,000.

Other institutional investors also recently modified their holdings of the company. State Street Corp increased its stake in Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company's stock worth $23,431,429,000 after acquiring an additional 874,962 shares during the period. Nicholas Company Inc. increased its position in shares of Chevron by 4.3% in the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock worth $11,591,000 after purchasing an additional 3,280 shares during the period. Dale Q Rice Investment Management Ltd acquired a new position in Chevron in the fourth quarter valued at about $594,000. Unified Investment Management acquired a new position in Chevron during the fourth quarter valued at approximately $729,000. Finally, Capital Investment Counsel LLC lifted its stake in Chevron by 4.5% during the third quarter. Capital Investment Counsel LLC now owns 74,508 shares of the oil and gas company's stock worth $10,973,000 after purchasing an additional 3,177 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Stock Up 0.6 %

NYSE CVX traded up $0.91 on Tuesday, hitting $165.93. 7,867,285 shares of the company were exchanged, compared to its average volume of 7,344,340. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market cap of $292.14 billion, a PE ratio of 17.07, a PEG ratio of 1.46 and a beta of 1.08. The stock has a fifty day moving average of $156.67 and a 200-day moving average of $153.01. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.82.

Remove Ads

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the prior year, the firm posted $3.45 EPS. As a group, analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a dividend of $1.71 per share. This is an increase from Chevron's previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.12%. Chevron's payout ratio is currently 70.37%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CVX shares. Barclays lowered their price target on Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a report on Wednesday, February 5th. Citigroup raised Chevron from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Wells Fargo & Company reduced their price target on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Truist Financial dropped their price objective on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. Finally, Piper Sandler cut their price objective on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Chevron currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.13.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is owned by insiders.

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.