Adams Asset Advisors LLC lessened its stake in Chevron Co. (NYSE:CVX) by 3.2% in the fourth quarter, HoldingsChannel reports. The firm owned 78,179 shares of the oil and gas company’s stock after selling 2,597 shares during the quarter. Chevron accounts for 1.2% of Adams Asset Advisors LLC’s portfolio, making the stock its 6th largest position. Adams Asset Advisors LLC’s holdings in Chevron were worth $9,787,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pathstone Family Office LLC increased its holdings in Chevron by 2.5% during the 2nd quarter. Pathstone Family Office LLC now owns 813 shares of the oil and gas company’s stock valued at $2,170,000 after acquiring an additional 20 shares in the last quarter. Accurate Investment Solutions Inc. increased its holdings in Chevron by 59.1% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock valued at $159,000 after acquiring an additional 502 shares in the last quarter. Acrospire Investment Management LLC increased its holdings in Chevron by 133.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after acquiring an additional 800 shares in the last quarter. Ffcm LLC increased its holdings in Chevron by 121.1% during the 2nd quarter. Ffcm LLC now owns 1,501 shares of the oil and gas company’s stock valued at $160,000 after acquiring an additional 822 shares in the last quarter. Finally, Mountain Capital Investment Advisors Inc purchased a new position in Chevron during the 2nd quarter valued at about $160,000. Institutional investors and hedge funds own 64.02% of the company’s stock.
Shares of Chevron Co. (NYSE CVX) opened at $117.22 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.03 and a quick ratio of 0.83. Chevron Co. has a 12-month low of $102.55 and a 12-month high of $133.88. The stock has a market cap of $223,920.00, a P/E ratio of 31.01, a P/E/G ratio of 2.32 and a beta of 1.19.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be given a $1.12 dividend. The ex-dividend date is Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a dividend yield of 3.82%. Chevron’s dividend payout ratio (DPR) is currently 118.52%.
Several equities analysts have weighed in on the stock. Credit Suisse Group dropped their target price on shares of Chevron from $129.00 to $123.00 and set a “neutral” rating for the company in a report on Wednesday, March 7th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Bank of America upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $113.61 to $138.00 in a report on Wednesday, February 28th. They noted that the move was a valuation call. Vetr downgraded shares of Chevron from a “strong-buy” rating to a “buy” rating and set a $122.05 price target for the company. in a report on Monday, February 26th. Finally, BNP Paribas upgraded shares of Chevron from an “underperform” rating to a “neutral” rating in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $130.00.
Chevron Company Profile
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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