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

Annex Advisory Services LLC boosted its position in Chevron Co. (NYSE:CVX) by 10.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 179,482 shares of the oil and gas company’s stock after buying 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 institutional investors have also recently bought and sold shares of the company. Life Planning Partners Inc acquired a new position in shares of Chevron during the fourth quarter worth approximately $25,000. IMG Wealth Management Inc. bought a new position in Chevron during the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron during the 4th quarter valued at $29,000. 10Elms LLP bought a new stake in Chevron in the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC grew its position in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 88 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on CVX shares. Barclays cut Chevron from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and cut their target price for the company from $160.00 to $143.00 in a research note on Friday, April 11th. UBS Group decreased their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Piper Sandler dropped their price objective on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. Finally, HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and lowered their target price for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $160.24.

Chevron Trading Down 1.5%

NYSE:CVX opened at $137.46 on Thursday. The business’s 50-day moving average price is $140.16 and its two-hundred day moving average price is $150.11. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a market capitalization of $240.06 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 1.46 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same period last year, the firm posted $2.93 earnings per share. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. On average, equities analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders 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 dividend on an annualized basis and a yield of 4.98%. Chevron’s payout ratio is 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.