Guggenheim Capital LLC Has $39.33 Million Position in Chevron Co. (NYSE:CVX)

Guggenheim Capital LLC trimmed its position in Chevron Co. (NYSE:CVX - Free Report) by 13.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 271,507 shares of the oil and gas company's stock after selling 42,844 shares during the quarter. Guggenheim Capital LLC's holdings in Chevron were worth $39,325,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Life Planning Partners Inc acquired a new position in Chevron during the fourth quarter valued at approximately $25,000. IMG Wealth Management Inc. acquired a new position in shares of Chevron during the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Chevron during the 4th quarter worth $29,000. Fairway Wealth LLC increased its holdings in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 88 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new position in Chevron in the fourth quarter valued at about $39,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business'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 of the company's stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.20% of the company's stock.

Chevron Price Performance

Shares of Chevron stock traded up $2.32 on Friday, hitting $137.68. The company had a trading volume of 8,423,604 shares, compared to its average volume of 7,913,168. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The business has a 50-day simple moving average of $153.94 and a 200-day simple moving average of $153.50. The company has a market cap of $242.39 billion, a PE ratio of 14.16, a PEG ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results 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 quarter last year, the company earned $3.45 earnings per share. Research analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.97%. This is a positive change from Chevron's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron's dividend payout ratio is 70.37%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Scotiabank cut Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Raymond James reduced their price objective on Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company dropped their target price on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a report on Tuesday. BNP Paribas lowered shares of Chevron to a "cautious" rating in a report on Tuesday. Finally, Truist Financial dropped their price objective on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $169.50.

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.