Chevron Co. (NYSE:CVX) Shares Sold by Adams Natural Resources Fund Inc.

Adams Natural Resources Fund Inc. lowered its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 510,171 shares of the oil and gas company's stock after selling 7,900 shares during the period. Chevron makes up 11.7% of Adams Natural Resources Fund Inc.'s portfolio, making the stock its 2nd biggest position. Adams Natural Resources Fund Inc.'s holdings in Chevron were worth $73,893,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. State Street Corp boosted its stake in Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company's stock worth $23,431,429,000 after acquiring an additional 874,962 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Chevron by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company's stock worth $4,613,960,000 after purchasing an additional 746,806 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Chevron by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock worth $2,881,280,000 after purchasing an additional 410,460 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Chevron by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company's stock valued at $2,610,645,000 after buying an additional 573,218 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Chevron by 17.3% during the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock worth $2,389,380,000 after buying an additional 2,432,756 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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Chevron Stock Performance

CVX traded down $0.40 during trading hours on Friday, reaching $164.37. The company's stock had a trading volume of 21,579,196 shares, compared to its average volume of 7,336,455. The company's 50-day moving average is $156.29 and its 200-day moving average is $152.57. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The firm has a market cap of $289.39 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the company earned $3.45 earnings per share. On average, equities analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. This is a boost from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend was Friday, February 14th. Chevron's dividend payout ratio is currently 70.37%.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CVX shares. Raymond James decreased their target price on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. Barclays decreased their price objective on Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a research report on Wednesday, February 5th. Wells Fargo & Company dropped their target price on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Truist Financial cut their price target on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research note on Tuesday, February 4th. Finally, UBS Group dropped their price objective on shares of Chevron from $195.00 to $194.00 and set a "buy" rating on the stock in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $174.13.

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.