Adams Asset Advisors LLC Lowers Stock Holdings in Chevron Corporation $CVX

Adams Asset Advisors LLC trimmed its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 11.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 68,978 shares of the oil and gas company's stock after selling 8,738 shares during the period. Chevron makes up approximately 1.4% of Adams Asset Advisors LLC's holdings, making the stock its 23rd largest position. Adams Asset Advisors LLC's holdings in Chevron were worth $9,877,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd raised its holdings in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after acquiring an additional 122 shares during the last quarter. 10Elms LLP purchased a new position in Chevron in the 4th quarter worth approximately $29,000. Elequin Capital LP purchased a new position in Chevron in the 1st quarter worth approximately $31,000. IFS Advisors LLC raised its holdings in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after acquiring an additional 116 shares during the last quarter. Finally, Cloud Capital Management LLC purchased a new position in Chevron in the 1st quarter worth approximately $39,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Chevron from $164.00 to $168.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Evercore ISI restated an "outperform" rating and issued a $180.00 price objective on shares of Chevron in a report on Thursday, July 31st. Melius assumed coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price objective for the company. Barclays reaffirmed an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Finally, TD Cowen lifted their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research report on Monday, August 4th. Eleven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $164.80.

Chevron Trading Down 0.6%

NYSE:CVX opened at $157.23 on Monday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a 50 day simple moving average of $154.67 and a two-hundred day simple moving average of $148.79. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The company has a market cap of $271.69 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 1.98 and a beta of 0.90.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the previous year, the firm posted $2.55 EPS. The company's revenue for the quarter was down 12.4% compared to the same quarter last year. Research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. Chevron's payout ratio is presently 88.03%.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 3,978 shares of the business's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares of the company's stock, valued at $188,960. The trade was a 77.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John B. Hess sold 375,000 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

Chevron Company Profile

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.

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