Anchor Pointe Wealth Management LLC Makes New $334,000 Investment in Chevron Co. (NYSE:CVX)

Anchor Pointe Wealth Management LLC acquired a new stake in shares of Chevron Co. (NYSE:CVX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,335 shares of the oil and gas company's stock, valued at approximately $334,000.

Several other institutional investors and hedge funds have also bought and sold shares of CVX. Capital & Planning LLC raised its holdings in Chevron by 15.2% in the fourth quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company's stock worth $243,000 after purchasing an additional 222 shares in the last quarter. Eagle Capital Management LLC boosted its stake in Chevron by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock worth $5,011,000 after acquiring an additional 242 shares in the last quarter. Regatta Capital Group LLC grew its holdings in Chevron by 3.9% in the fourth quarter. Regatta Capital Group LLC now owns 5,713 shares of the oil and gas company's stock worth $827,000 after purchasing an additional 216 shares during the period. Stablepoint Partners LLC increased its stake in shares of Chevron by 1.6% during the fourth quarter. Stablepoint Partners LLC now owns 39,838 shares of the oil and gas company's stock valued at $5,770,000 after purchasing an additional 631 shares in the last quarter. Finally, Strategic Investment Advisors MI lifted its holdings in shares of Chevron by 7.7% during the fourth quarter. Strategic Investment Advisors MI now owns 1,533 shares of the oil and gas company's stock valued at $222,000 after purchasing an additional 109 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Chevron stock traded up $1.87 during trading on Thursday, reaching $137.89. The company had a trading volume of 7,553,659 shares, compared to its average volume of 8,089,124. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $240.81 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The firm's 50-day simple moving average is $143.01 and its 200 day simple moving average is $150.83.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter in the prior year, the firm earned $2.93 EPS. The business's revenue was down 2.3% on a year-over-year basis. Sell-side analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.96%. The ex-dividend date is Monday, May 19th. Chevron's dividend payout ratio (DPR) is presently 78.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CVX shares. Mizuho dropped their target price on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Piper Sandler dropped their target price on Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. BNP Paribas downgraded Chevron to a "cautious" rating in a report on Tuesday, April 15th. Truist Financial dropped their target price on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a report on Tuesday, February 4th. Finally, Barclays cut Chevron from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $160.24.

Chevron 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.