Anchor Investment Management LLC Has $5.91 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Anchor Investment Management LLC cut its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 12.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,794 shares of the oil and gas company's stock after selling 5,556 shares during the period. Anchor Investment Management LLC's holdings in Chevron were worth $5,909,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. IMG Wealth Management Inc. acquired a new stake in Chevron in the fourth quarter worth approximately $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron in the fourth quarter worth approximately $29,000. Fairway Wealth LLC raised its stake in Chevron by 75.9% during 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 during the period. New Wave Wealth Advisors LLC acquired a new position in Chevron during the fourth quarter valued at $39,000. Finally, Prudent Man Investment Management Inc. acquired a new position in shares of Chevron in the 4th quarter valued at about $45,000. 72.42% of the stock is owned by institutional investors.

Chevron Stock Up 1.7 %

Shares of NYSE:CVX traded up $2.32 during midday trading on Friday, hitting $137.68. The stock had a trading volume of 8,423,604 shares, compared to its average volume of 7,913,168. The company has a market cap of $242.39 billion, a P/E ratio of 14.16, a PEG ratio of 1.46 and a beta of 0.93. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The business's 50-day simple moving average is $153.94 and its 200-day simple moving average is $153.50. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS 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 business posted $3.45 earnings per share. On average, sell-side analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. This is a positive change from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend was Friday, February 14th. Chevron's dividend payout ratio (DPR) is currently 70.37%.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction 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 completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CVX. Piper Sandler cut their price objective on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. Truist Financial cut their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research report on Tuesday, February 4th. BNP Paribas lowered shares of Chevron to a "cautious" rating in a research report on Tuesday. Scotiabank downgraded Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Finally, Raymond James lowered their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $169.50.

Chevron Company 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.