Adams Asset Advisors LLC reduced its stake in Chevron Co. (NYSE:CVX) by 4.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,776 shares of the oil and gas company’s stock after selling 3,735 shares during the quarter. Chevron comprises approximately 1.3% of Adams Asset Advisors LLC’s holdings, making the stock its 6th largest position. Adams Asset Advisors LLC’s holdings in Chevron were worth $9,491,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Everett Harris & Co. CA raised its holdings in Chevron by 0.4% in the 1st quarter. Everett Harris & Co. CA now owns 291,943 shares of the oil and gas company’s stock worth $31,346,000 after acquiring an additional 1,142 shares during the last quarter. Paragon Capital Management Ltd purchased a new position in Chevron in the 1st quarter worth approximately $1,459,000. Nikko Asset Management Americas Inc. raised its holdings in Chevron by 7.9% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 239,730 shares of the oil and gas company’s stock worth $25,740,000 after acquiring an additional 17,600 shares during the last quarter. BTC Capital Management Inc. raised its holdings in Chevron by 0.6% in the 1st quarter. BTC Capital Management Inc. now owns 89,852 shares of the oil and gas company’s stock worth $9,647,000 after acquiring an additional 574 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its stake in Chevron by 15.6% during the 1st quarter. Hennessy Advisors Inc. now owns 106,975 shares of the oil and gas company’s stock valued at $11,486,000 after buying an additional 14,425 shares during the last quarter. 63.80% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Patricia E. Yarrington sold 13,143 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $115.01, for a total value of $1,511,576.43. Following the completion of the transaction, the chief financial officer now owns 17,981 shares of the company’s stock, valued at approximately $2,067,994.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Patricia E. Yarrington sold 116,857 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $115.29, for a total transaction of $13,472,443.53. Following the completion of the transaction, the chief financial officer now directly owns 39,506 shares of the company’s stock, valued at approximately $4,554,646.74. The disclosure for this sale can be found here. Insiders sold a total of 314,000 shares of company stock valued at $36,540,822 in the last ninety days. 0.38% of the stock is currently owned by insiders.
A number of equities research analysts have weighed in on CVX shares. Jefferies Group reiterated a “buy” rating and set a $137.00 target price (up from $113.54) on shares of Chevron in a research note on Monday, October 30th. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a research note on Friday, November 10th. Citigroup boosted their target price on shares of Chevron from $118.00 to $128.00 and gave the company a “buy” rating in a research note on Monday, October 30th. Goldman Sachs Group reiterated a “buy” rating and set a $123.00 target price (up from $118.00) on shares of Chevron in a research note on Tuesday, September 19th. Finally, Wolfe Research upgraded shares of Chevron from a “market perform” rating to an “outperform” rating in a research note on Monday, October 16th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company. Chevron presently has a consensus rating of “Hold” and a consensus price target of $126.06.
Chevron Co. (NYSE:CVX) traded up $1.03 during trading hours on Friday, hitting $133.60. The stock had a trading volume of 7,205,800 shares, compared to its average volume of 5,440,000. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84. The stock has a market cap of $253,760.00, a price-to-earnings ratio of 38.95, a price-to-earnings-growth ratio of 2.97 and a beta of 1.21. Chevron Co. has a 52-week low of $102.55 and a 52-week high of $133.85.
Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. The firm had revenue of $36.21 billion during the quarter, compared to analyst estimates of $34.06 billion. Chevron had a return on equity of 4.59% and a net margin of 4.79%. Chevron’s revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 EPS. research analysts anticipate that Chevron Co. will post 4.35 earnings per share for the current year.
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Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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