Annex Advisory Services LLC Grows Position in Chevron Corporation $CVX

Key Points

• Annex Advisory Services LLC increased its holdings in Chevron Corporation by 9.8%, owning 197,116 shares valued at approximately $28.2 million as of the last reporting period.
• Chevron's recent earnings report showed an EPS of $1.77, exceeding analysts' expectations of $1.58, despite a 12.4% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $1.71 per share, with a dividend yield of 4.4% and a payout ratio of 88.03%.

Annex Advisory Services LLC raised its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 9.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 197,116 shares of the oil and gas company's stock after purchasing an additional 17,634 shares during the quarter. Annex Advisory Services LLC's holdings in Chevron were worth $28,225,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC grew its position in shares of Chevron by 652,139.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company's stock worth $13,214,757,000 after buying an additional 83,702,101 shares during the period. GQG Partners LLC bought a new position in Chevron during the 1st quarter valued at $1,466,751,000. Nuveen LLC bought a new position in Chevron during the 1st quarter valued at $1,362,232,000. GAMMA Investing LLC increased its position in shares of Chevron by 21,191.5% during the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock valued at $904,746,000 after purchasing an additional 5,382,847 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Chevron by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock valued at $5,592,263,000 after purchasing an additional 1,574,464 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Performance

CVX stock traded up $1.89 during trading on Tuesday, reaching $157.94. The stock had a trading volume of 3,906,830 shares, compared to its average volume of 9,164,259. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The stock's 50 day moving average is $155.33 and its two-hundred day moving average is $148.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The firm has a market cap of $272.92 billion, a PE ratio of 20.33, a PEG ratio of 1.96 and a beta of 0.90.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the prior year, the company earned $2.55 earnings per share. Chevron's revenue was down 12.4% on a year-over-year basis. As a group, equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. Chevron's dividend payout ratio is presently 88.03%.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the company'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 completion of the sale, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the company'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 completion of the sale, the vice president owned 1,181 shares of the company's stock, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CVX. Jefferies Financial Group reissued a "buy" rating on shares of Chevron in a report on Friday, July 18th. Piper Sandler boosted their target price on Chevron from $164.00 to $168.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Barclays reiterated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Evercore ISI reissued an "outperform" rating and set a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Finally, Melius Research started coverage on Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price target on the stock. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of "Hold" and a consensus target price of $165.05.

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.