Annex Advisory Services LLC Acquires 17,142 Shares of Chevron Co. (NYSE:CVX)

Annex Advisory Services LLC boosted its holdings in Chevron Co. (NYSE:CVX - Free Report) by 10.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 179,482 shares of the oil and gas company's stock after purchasing an additional 17,142 shares during the quarter. Annex Advisory Services LLC's holdings in Chevron were worth $30,026,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CVX. Norges Bank acquired a new position in shares of Chevron in the 4th quarter valued at approximately $3,017,750,000. Raymond James Financial Inc. acquired a new position in shares of Chevron in the 4th quarter valued at approximately $1,036,302,000. GAMMA Investing LLC raised its position in shares of Chevron by 21,191.5% in 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 buying an additional 5,382,847 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Chevron by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock valued at $2,389,380,000 after buying an additional 2,432,756 shares in the last quarter. Finally, Amundi raised its position in shares of Chevron by 27.7% in the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock valued at $1,323,549,000 after buying an additional 1,910,262 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several analyst reports. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Redburn Atlantic reiterated a "sell" rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. TD Cowen lowered their price objective on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Finally, Barclays cut shares of Chevron from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Chevron has a consensus rating of "Hold" and a consensus price target of $160.24.

Chevron Stock Down 0.4%

NYSE:CVX traded down $0.55 during mid-day trading on Thursday, hitting $136.82. 6,335,522 shares of the company's stock were exchanged, compared to its average volume of 8,116,671. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The business has a fifty day moving average price of $140.16 and a 200 day moving average price of $150.11. The company has a market cap of $238.95 billion, a PE ratio of 14.08, a P/E/G ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the previous year, the firm posted $2.93 earnings per share. Chevron's quarterly revenue was down 2.3% on a year-over-year basis. Equities analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 5.00%. Chevron's dividend payout ratio is presently 78.17%.

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.