Anchor Investment Management LLC Has $6.88 Million Stake in Chevron Corporation $CVX

Anchor Investment Management LLC grew its position in Chevron Corporation (NYSE:CVX) by 0.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,126 shares of the oil and gas company’s stock after purchasing an additional 332 shares during the period. Anchor Investment Management LLC’s holdings in Chevron were worth $6,880,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Harvest Fund Management Co. Ltd grew its stake in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 122 shares in the last quarter. 10Elms LLP acquired a new position in Chevron during the fourth quarter worth $29,000. Elequin Capital LP bought a new position in Chevron in the first quarter valued at $31,000. IFS Advisors LLC increased its stake in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 116 shares during the last quarter. Finally, Cloud Capital Management LLC bought a new stake in Chevron during the 1st quarter worth about $39,000. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX opened at $154.64 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The firm has a market cap of $267.22 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 2.28 and a beta of 0.90. The stock’s fifty day moving average price is $154.09 and its two-hundred day moving average price is $148.82. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the prior year, the company posted $2.55 earnings per share. Chevron’s revenue was down 12.4% compared to the same quarter last year. On average, equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CVX shares. TD Cowen increased their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Melius initiated coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Raymond James Financial restated an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. UBS Group upped their target price on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Finally, Melius Research assumed coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $163.95.

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.