Anchor Capital Advisors LLC Sells 11,291 Shares of Chevron Co. (NYSE:CVX)

Anchor Capital Advisors LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 7.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140,221 shares of the oil and gas company’s stock after selling 11,291 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Chevron were worth $21,933,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Pacifica Partners Inc. lifted its holdings in Chevron by 1.8% during the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after buying an additional 63 shares in the last quarter. Private Wealth Management Group LLC raised its stake in shares of Chevron by 15.7% during the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after acquiring an additional 63 shares in the last quarter. Montz Harcus Wealth Management LLC boosted its holdings in shares of Chevron by 2.2% in the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after purchasing an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC grew its stake in Chevron by 0.7% in the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after purchasing an additional 64 shares in the last quarter. Finally, Marks Group Wealth Management Inc increased its holdings in Chevron by 3.1% during the 1st quarter. Marks Group Wealth Management Inc now owns 2,148 shares of the oil and gas company’s stock worth $339,000 after purchasing an additional 65 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of CVX stock opened at $138.56 on Friday. The firm has a market capitalization of $253.42 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 2.40 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock’s 50-day simple moving average is $150.82 and its 200-day simple moving average is $155.26. Chevron Co. has a fifty-two week low of $137.87 and a fifty-two week high of $171.70.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.08 EPS. As a group, equities analysts forecast that Chevron Co. will post 11.86 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a $1.63 dividend. The ex-dividend date is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.71%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Barclays lowered their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Scotiabank dropped their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Truist Financial dropped their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Finally, Wolfe Research began coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average target price of $183.82.

About Chevron

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.