Annex Advisory Services LLC Raises Stake in Chevron Corporation $CVX

Annex Advisory Services LLC increased its holdings in shares of Chevron Corporation (NYSE:CVX) by 4.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 205,705 shares of the oil and gas company’s stock after purchasing an additional 8,589 shares during the period. Annex Advisory Services LLC’s holdings in Chevron were worth $31,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quaker Wealth Management LLC boosted its position in Chevron by 197.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 439 shares in the last quarter. Vermillion & White Wealth Management Group LLC increased its holdings in shares of Chevron by 86.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 118 shares in the last quarter. IMG Wealth Management Inc. lifted its stake in shares of Chevron by 52.3% in the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 91 shares during the period. GFG Capital LLC purchased a new stake in Chevron during the second quarter worth $42,000. Finally, LFA Lugano Financial Advisors SA boosted its holdings in Chevron by 106.7% during the second quarter. LFA Lugano Financial Advisors SA now owns 310 shares of the oil and gas company’s stock worth $44,000 after buying an additional 160 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chevron

In other news, Director John B. Hess sold 275,000 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the transaction, the director directly owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This represents a 19.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Mizuho upped their price target on Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. UBS Group reiterated a “buy” rating on shares of Chevron in a research report on Monday, December 1st. Raymond James Financial reissued an “outperform” rating and issued a $160.00 price target (down previously from $170.00) on shares of Chevron in a report on Friday, October 17th. Finally, Piper Sandler reduced their price objective on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a research report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Chevron has an average rating of “Hold” and an average target price of $166.00.

Chevron Stock Up 0.6%

NYSE CVX opened at $150.95 on Tuesday. The business’s fifty day simple moving average is $152.04 and its 200-day simple moving average is $152.92. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. The firm has a market cap of $303.93 billion, a PE ratio of 21.23, a P/E/G ratio of 9.00 and a beta of 0.68. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last issued its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The company had revenue of $48.17 billion for the quarter, compared to the consensus estimate of $46.99 billion. During the same period in the previous year, the firm earned $2.48 earnings per share. Chevron’s quarterly revenue was down 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were given a $1.71 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. Chevron’s payout ratio is currently 96.20%.

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.