Annex Advisory Services LLC Lowers Stock Position in Chevron Corporation $CVX

Key Points

• Annex Advisory Services cut its Chevron stake by 30.4% in Q4, selling 62,533 shares and now holds 143,172 shares worth about $21.82 million.
• Chevron reported mixed Q4 results — EPS $1.52 beat estimates while revenue missed and fell ~10% year‑over‑year — and raised its quarterly dividend to $1.78 (annualized $7.12) for a ~3.8% yield.
• Significant insider selling occurred recently: CEO Michael K. Wirth sold 272,624 shares (~$51.6M) and insiders disposed of 779,407 shares (~$146M) over the last quarter, leaving insiders with about 0.20% ownership.

Annex Advisory Services LLC reduced its stake in Chevron Corporation (NYSE:CVX - Free Report) by 30.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,172 shares of the oil and gas company's stock after selling 62,533 shares during the quarter. Annex Advisory Services LLC's holdings in Chevron were worth $21,821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of CVX. Vanguard Group Inc. grew its position in Chevron by 17.9% during the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company's stock valued at $28,540,753,000 after acquiring an additional 27,961,463 shares during the last quarter. State Street Corp grew its position in Chevron by 9.1% during the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company's stock valued at $23,698,184,000 after acquiring an additional 12,789,399 shares during the last quarter. Northern Trust Corp grew its position in Chevron by 15.3% during the third quarter. Northern Trust Corp now owns 22,724,515 shares of the oil and gas company's stock valued at $3,528,890,000 after acquiring an additional 3,007,403 shares during the last quarter. Fisher Asset Management LLC grew its position in Chevron by 1.6% during the third quarter. Fisher Asset Management LLC now owns 21,152,060 shares of the oil and gas company's stock valued at $3,284,704,000 after acquiring an additional 325,255 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Chevron by 27.9% during the third quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company's stock valued at $3,047,900,000 after acquiring an additional 4,279,918 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Down 2.5%

Shares of Chevron stock opened at $186.95 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.15. Chevron Corporation has a 52-week low of $132.33 and a 52-week high of $214.71. The stock has a market capitalization of $372.46 billion, a price-to-earnings ratio of 28.07, a P/E/G ratio of 1.42 and a beta of 0.60. The company's 50 day moving average price is $192.03 and its 200-day moving average price is $168.52.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.08. The business had revenue of $45.79 billion for the quarter, compared to analysts' expectations of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The firm's revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.06 earnings per share. Equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were issued a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.8%. This is an increase from Chevron's previous quarterly dividend of $1.71. The ex-dividend date was Tuesday, February 17th. Chevron's dividend payout ratio (DPR) is presently 106.91%.

Wall Street Analyst Weigh In

A number of research analysts have commented on CVX shares. Jefferies Financial Group increased their price target on shares of Chevron from $174.00 to $189.00 and gave the company a "buy" rating in a research report on Wednesday, January 14th. Wells Fargo & Company increased their price target on shares of Chevron from $204.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. BMO Capital Markets reiterated an "outperform" rating and set a $190.00 price target on shares of Chevron in a research report on Monday, February 2nd. Freedom Capital cut shares of Chevron from a "hold" rating to a "strong sell" rating in a research report on Tuesday, January 6th. Finally, Tudor Pickering upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $225.00 price target on the stock in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $195.09.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron announced an asset swap that raises its Petroindependencia stake to ~49% and secures Orinoco heavy‑oil development rights — a long‑term boost to heavy crude exposure and valuation. Read More.
• Positive Sentiment: Royal Bank of Canada lifted its price target and other outlets report analyst upgrades tied to recent discoveries and stronger oil fundamentals — supportive for upside expectations. Read More.
• Positive Sentiment: Large institutional interest — Berkshire Hathaway added to its Chevron stake, a credible long‑term vote of confidence that can attract other investors. Read More.
• Positive Sentiment: High‑visibility endorsements (Jim Cramer recommending Chevron for offshore exposure) and reports of a Gulf discovery are driving retail and momentum flows into the stock. Read More. Read More.
• Neutral Sentiment: Q4 results were mixed — EPS beat but revenue missed and year‑over‑year sales declined, leaving near‑term earnings visibility somewhat uncertain despite strong operating cash flow. Read More.
• Neutral Sentiment: Management expects higher Q1 profits given current geopolitical oil dynamics, which supports forward earnings estimates but depends on sustained oil prices and stable operations. Read More.
• Negative Sentiment: Execution/regulatory risk in Venezuela: Suelopetrol says it has not been notified of Chevron’s expansion in the joint venture — introduces uncertainty about timing/approval of the asset swap and could delay or alter expected benefits. Read More.
• Negative Sentiment: Some analyst caution persists — a recent TD Cowen adjustment to a lower price target/hold view and notes about near‑term earnings headwinds temper upside momentum. Read More.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 272,624 shares of Chevron stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $189.35, for a total value of $51,621,354.40. Following the sale, the chief executive officer owned 31,266 shares in the company, valued at $5,920,217.10. The trade was a 89.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction on Monday, March 30th. The shares were sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the sale, the insider owned 8,638 shares in the company, valued at approximately $1,842,485.40. This trade represents a 82.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 779,407 shares of company stock valued at $145,972,971 over the last quarter. 0.20% of the stock is owned by company insiders.

Chevron Company 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.

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