Chevron Corporation $CVX Stock Acquired by Annex Advisory Services LLC

Annex Advisory Services LLC increased its stake in Chevron Corporation (NYSE:CVX - Free Report) by 49.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 212,496 shares of the oil and gas company's stock after buying an additional 70,295 shares during the quarter. Annex Advisory Services LLC's holdings in Chevron were worth $43,394,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CVX. BlackRock Inc. bought a new stake in Chevron in the second quarter worth about $25,663,729,000. Bank of New York Mellon Corp bought a new position in shares of Chevron during the 2nd quarter valued at approximately $2,378,114,000. Legal & General Group Plc purchased a new stake in shares of Chevron during the 2nd quarter worth approximately $1,462,412,000. Deutsche Bank AG purchased a new stake in shares of Chevron during the 2nd quarter worth approximately $1,189,577,000. Finally, State Street Corp raised its holdings in shares of Chevron by 3.9% in the 2nd quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company's stock worth $28,016,651,000 after purchasing an additional 5,998,852 shares during the period. Institutional investors own 72.42% of the company's stock.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Morgan Stanley raised its Chevron price target to $226 from $218 and assigned an “overweight” rating, while Wells Fargo reportedly initiated or reiterated a “buy” recommendation. These upgrades reinforce bullish sentiment, although Morgan Stanley’s revised target implies limited additional upside from current levels. Morgan Stanley raises Chevron price target
• Positive Sentiment: Chevron was selected as a relative-strength stock by Zacks, reflecting strong recent price performance and improving earnings estimates. The company is also receiving attention as a long-term and dividend-oriented investment, which may attract additional income-focused investors. Zacks relative strength stock picks
• Positive Sentiment: Wall Street expects a sharp year-over-year increase in Chevron’s third-quarter earnings, with results due by the end of October. Anticipation of stronger profits is helping sustain interest ahead of the report. Chevron earnings expectations
• Neutral Sentiment: Diamond Hill Capital highlighted Chevron in its third-quarter investor letter after its large-cap strategy outperformed the Russell 1000 Value Index. The item indicates institutional interest but does not represent a new company announcement or change in fundamentals. Diamond Hill Chevron investment discussion
• Negative Sentiment: CEO Mike Wirth warned that commercial inventories, emergency reserves and previously sanctioned oil supplies have been depleted following the Iran-related shock. While tighter supply could support crude prices and Chevron’s upstream revenue, it also raises geopolitical, refining and diesel-price risks. Chevron CEO warns oil buffers are depleted

Insider Buying and Selling

In other news, insider R. Pate sold 2,470 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total value of $506,621.70. Following the completion of the sale, the insider owned 10,794 shares of the company's stock, valued at approximately $2,213,957.34. The trade was a 18.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Andrew Walz sold 16,800 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $201.06, for a total value of $3,377,808.00. Following the sale, the insider owned 14 shares of the company's stock, valued at $2,814.84. This represents a 99.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,152,582 shares of company stock worth $225,853,661. Insiders own 0.56% of the company's stock.

Chevron Price Performance

CVX stock opened at $225.00 on Friday. The firm has a market cap of $444.55 billion, a P/E ratio of 20.23, a P/E/G ratio of 0.60 and a beta of 0.53. The firm's fifty day moving average is $207.58 and its 200 day moving average is $193.51. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $225.31. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. During the same period in the previous year, the firm posted $1.77 earnings per share. The firm's revenue for the quarter was up 57.4% on a year-over-year basis. Research analysts predict that Chevron Corporation will post 17.71 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were issued a $1.78 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.2%. Chevron's payout ratio is currently 68.26%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Royal Bank Of Canada upped their price objective on Chevron from $220.00 to $230.00 and gave the company an "outperform" rating in a research note on Thursday, September 24th. TD Cowen boosted their price objective on Chevron from $215.00 to $225.00 and gave the company a "hold" rating in a research note on Monday, October 12th. HSBC set a $90.00 price objective on shares of Chevron in a report on Friday, September 25th. The Goldman Sachs Group cut their target price on shares of Chevron from $240.00 to $228.00 and set a "buy" rating for the company in a research report on Tuesday, September 22nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Chevron from $190.00 to $222.00 and gave the stock an "overweight" rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $213.42.

About Chevron

Chevron Corporation NYSE: CVX is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.

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