CVX – CHEVRON CORPORATION (HQ: USA/Industry: Oil, Gas & Consumable Fuels)
Chevron and affiliates provide administrative, financial, management and technology support to U.S. and international subsidiaries that engage in integrated energy and chemicals operations. With upstream operations that consist primarily of exploring for, developing, producing and transporting crude oil and natural gas. While downstream operations consist primarily of refining crude oil into petroleum products.

Since September 2021 Chevron’s stock has been increasing steady, with the last few weeks seeing the price accelerating higher due to the rise in oil prices. To value the business at their current market price the company would need nearly a 29% per year growth for the next 10-years.

SEC filing link: https://www.sec.gov/edgar/browse/?CIK=93410&owner=exclude

BTI – BRITISH AMERICAN TOBACCO P.L.C. (HQ: United Kingdom/Industry: Tobacco)
British American Tobacco serves the tobacco and nicotine markets that consists of a growing base of more than one billion adult consumers. Taking into account generational differences and shifts in taste, as health and wellness become ever more important. While there’s a predicated decline in cigarette consumption, this would be offset by growth in new product categories for the company.

British American Tobacco was selling below its margin of safety intrinsic value toward the end of 2021, however, since then the price has increase just above this valuation. Although, the current market price is below the intrinsic value, it does not account for a sufficient margin of safety.

SEC filing link: https://www.sec.gov/edgar/browse/?CIK=1303523&owner=exclude

TTGT – TECHTARGET, INC. (HQ: USA/Industry: Media)
TechTarget is a global data and analytics leader and software provider for purchase intent driven marketing and sales data which delivers business impact for business-to-business companies. The company’s solutions enable business-to-business technology companies to identify, reach, and influence key enterprise technology decision makers faster and with higher efficacy.

The market’s price valuation for TechTarget comes with a very high premium with a P/E of nearly 120. To value the business at their current market price the company would need nearly a 33% per year growth for the next 10-years.

SEC filing link: https://www.sec.gov/edgar/browse/?CIK=1293282&owner=exclude

MTX – MINERALS TECHNOLOGIES INC. (HQ: USA/Industry: Chemicals)
Minerals Technologies is a resource and technology based company that develops, produces, and markets on a worldwide basis a broad range of specialty mineral, mineral-based and synthetic mineral products and supporting systems and services.

With the stock selling off towards the end of 2021, Minerals Technologies is trading below their margin of safety intrinsic value. This includes the stock being near the bottom of its 52-week low.

SEC filing link: https://www.sec.gov/edgar/browse/?CIK=891014&owner=exclude

NVR – NVR, INC. (HQ: USA/Industry: Household Durables)
NVR’s primary business is the construction and sale of single-family detached homes, townhomes and condominium buildings, all of which are primarily constructed on a pre-sold basis. While also operating a mortgage banking and title services business.

NVR’s stock trades high on a per share basis, as the company has never had a stock split. But over the previous year the stock hasn’t seen much of a gain, though it did peak out near $6,000/share in December 2021. To value the business at their current market price the company would need more than a 15% per year growth for the next 10-years.

SEC filing link: https://www.sec.gov/edgar/browse/?CIK=906163&owner=exclude