Guardian Investment Management Sells 2,950 Shares of Chevron Corporation (NYSE:CVX)

Guardian Investment Management decreased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 14.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 17,978 shares of the oil and gas company's stock after selling 2,950 shares during the period. Chevron comprises about 2.4% of Guardian Investment Management's holdings, making the stock its 10th largest holding. Guardian Investment Management's holdings in Chevron were worth $3,008,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. IMG Wealth Management Inc. bought a new position in shares of Chevron during the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron during the 4th quarter valued at $29,000. 10Elms LLP purchased a new stake in Chevron in the fourth quarter worth about $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 worth $30,000 after acquiring an additional 88 shares in the last quarter. Finally, IFS Advisors LLC raised its position in shares of Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 116 shares during the period. Institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

Shares of CVX traded up $0.25 during mid-day trading on Friday, reaching $148.23. The company had a trading volume of 5,173,309 shares, compared to its average volume of 8,273,025. The stock has a market capitalization of $258.86 billion, a P/E ratio of 16.94, a PEG ratio of 2.51 and a beta of 0.83. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The stock has a 50 day moving average of $141.16 and a two-hundred day moving average of $148.07. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same quarter in the previous year, the company earned $2.93 earnings per share. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. On average, analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio is presently 78.17%.

Analysts Set New Price Targets

CVX has been the subject of several recent analyst reports. Redburn Atlantic restated a "sell" rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. UBS Group decreased their target price on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Scotiabank lowered Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their price target for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Barclays downgraded Chevron from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $165.00 price objective (up from $164.00) on shares of Chevron in a report on Thursday, June 26th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $160.41.

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.