Constant Guidance Financial LLC Acquires New Position in Chevron Co. (NYSE:CVX)

Constant Guidance Financial LLC bought a new position in shares of Chevron Co. (NYSE:CVX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 29,390 shares of the oil and gas company’s stock, valued at approximately $4,257,000. Chevron comprises approximately 3.8% of Constant Guidance Financial LLC’s investment portfolio, making the stock its 6th largest position.

A number of other large investors have also recently modified their holdings of CVX. Legacy Investment Solutions LLC bought a new position in Chevron in the 3rd quarter valued at approximately $29,000. Rational Advisors LLC bought a new position in shares of Chevron in the 3rd quarter valued at $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron during the 3rd quarter valued at $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron during the 3rd quarter worth $31,000. Finally, New Wave Wealth Advisors LLC acquired a new position in Chevron in the 4th quarter worth about $39,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent research reports. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. Raymond James cut their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Barclays cut their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, Wells Fargo & Company decreased their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

Chevron Stock Performance

CVX stock opened at $155.32 on Friday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. 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 stock has a 50-day moving average price of $151.86 and a 200-day moving average price of $150.87. The firm has a market cap of $279.12 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11.

Chevron (NYSE:CVX) last issued its 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 return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the company earned $3.45 earnings per share. As a group, equities research analysts expect that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is presently 67.08%.

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.