Courage Miller Partners LLC Makes New $233,000 Investment in Chevron Co. (NYSE:CVX)

Posted by Defense World Staff on Apr 14th, 2023

Courage Miller Partners LLC purchased a new stake in shares of Chevron Co. (NYSE:CVX – Get Rating) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,299 shares of the oil and gas company’s stock, valued at approximately $233,000.

Several other large investors have also recently modified their holdings of the stock. Good Life Advisors LLC raised its holdings in Chevron by 2.6% in the third quarter. Good Life Advisors LLC now owns 28,054 shares of the oil and gas company’s stock worth $4,031,000 after buying an additional 719 shares during the last quarter. Mayflower Financial Advisors LLC increased its position in shares of Chevron by 1.6% during the fourth quarter. Mayflower Financial Advisors LLC now owns 92,113 shares of the oil and gas company’s stock valued at $16,533,000 after acquiring an additional 1,453 shares in the last quarter. M&R Capital Management Inc. raised its holdings in Chevron by 9.8% in the 4th quarter. M&R Capital Management Inc. now owns 7,580 shares of the oil and gas company’s stock worth $1,361,000 after acquiring an additional 674 shares during the last quarter. CapWealth Advisors LLC lifted its position in Chevron by 0.6% in the 3rd quarter. CapWealth Advisors LLC now owns 173,721 shares of the oil and gas company’s stock valued at $24,959,000 after acquiring an additional 1,097 shares in the last quarter. Finally, Joel Isaacson & Co. LLC boosted its stake in Chevron by 0.8% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 18,710 shares of the oil and gas company’s stock valued at $2,688,000 after purchasing an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 69.37% of the company’s stock.

Chevron Trading Up 1.3 %

CVX opened at $172.09 on Friday. The stock’s 50 day moving average price is $163.70 and its 200-day moving average price is $170.19. Chevron Co. has a one year low of $132.54 and a one year high of $189.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.23 and a current ratio of 1.47. The stock has a market cap of $328.12 billion, a price-to-earnings ratio of 9.41, a P/E/G ratio of 0.81 and a beta of 1.16.

Chevron (NYSE:CVX – Get Rating) last issued its earnings results on Friday, January 27th. The oil and gas company reported $4.09 EPS for the quarter, missing analysts’ consensus estimates of $4.16 by ($0.07). Chevron had a return on equity of 23.52% and a net margin of 14.40%. The company had revenue of $56.47 billion for the quarter, compared to analysts’ expectations of $53.97 billion. During the same period last year, the business posted $2.56 earnings per share. The business’s revenue was up 17.1% compared to the same quarter last year. On average, equities analysts forecast that Chevron Co. will post 14.37 EPS for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were paid a dividend of $1.51 per share. The ex-dividend date was Wednesday, February 15th. This represents a $6.04 annualized dividend and a dividend yield of 3.51%. This is a positive change from Chevron’s previous quarterly dividend of $1.42. Chevron’s dividend payout ratio (DPR) is currently 33.04%.

Chevron declared that its Board of Directors has approved a share repurchase program on Wednesday, January 25th that allows the company to repurchase $75.00 billion in shares. This repurchase authorization allows the oil and gas company to reacquire up to 21.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts recently commented on CVX shares. Wells Fargo & Company dropped their price objective on Chevron from $204.00 to $199.00 and set an “overweight” rating on the stock in a research report on Thursday, March 2nd. Mizuho reiterated a “neutral” rating and issued a $206.00 price target on shares of Chevron in a research note on Tuesday. Cowen dropped their target price on shares of Chevron from $185.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, February 24th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $195.00 to $200.00 in a report on Thursday. Finally, Morgan Stanley reduced their price objective on Chevron from $195.00 to $192.00 and set an “equal weight” rating for the company in a research report on Monday, March 27th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $191.11.

Insider Activity

In other news, VP Rhonda J. Morris sold 19,666 shares of the firm’s stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $170.00, for a total transaction of $3,343,220.00. Following the transaction, the vice president now owns 3,967 shares in the company, valued at $674,390. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.32% of the company’s stock.

Chevron Company Profile

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Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.