Adams Asset Advisors LLC Sells 2,541 Shares of Chevron Corporation (NYSE:CVX)

Adams Asset Advisors LLC trimmed its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 3.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,716 shares of the oil and gas company's stock after selling 2,541 shares during the period. Chevron comprises about 1.8% of Adams Asset Advisors LLC's holdings, making the stock its 12th largest position. Adams Asset Advisors LLC's holdings in Chevron were worth $13,001,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. IMG Wealth Management Inc. purchased a new stake in shares of Chevron in the fourth quarter valued at about $25,000. Life Planning Partners Inc purchased a new stake in shares of Chevron in the fourth quarter valued at about $25,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Chevron in the fourth quarter valued at about $29,000. 10Elms LLP purchased a new stake in shares of Chevron in the fourth quarter valued at about $29,000. Finally, Fairway Wealth LLC raised its holdings in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 88 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

CVX opened at $148.18 on Thursday. The company has a market capitalization of $258.78 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 2.61 and a beta of 0.83. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average price of $138.82 and a 200-day moving average price of $148.90. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company's revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the company earned $2.93 earnings per share. Equities analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.62%. Chevron's dividend payout ratio (DPR) is currently 78.17%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CVX shares. HSBC downgraded 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 report on Tuesday, May 13th. UBS Group decreased their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. Wells Fargo & Company decreased their price objective on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a report on Monday, May 5th. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Finally, DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a report on Tuesday, May 6th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Chevron has an average rating of "Hold" and an average target price of $160.24.

Chevron 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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