Petroleum & Resources Has Lifted Chevron (CVX) Holding By $2.74 Million; 6 Analysts Covering ADTRAN, Inc. (ADTN)

June 21, 2018 - By Peter Erickson

ADTRAN, Inc. (NASDAQ:ADTN) Logo

Among 11 analysts covering Adtran Inc. (NASDAQ:ADTN), 6 have Buy rating, 0 Sell and 5 Hold. Therefore 55% are positive. Adtran Inc. had 37 analyst reports since September 9, 2015 according to SRatingsIntel. Needham maintained ADTRAN, Inc. (NASDAQ:ADTN) on Wednesday, April 18 with “Buy” rating. The rating was maintained by Northland Capital with “Buy” on Tuesday, September 5. Stifel Nicolaus upgraded the stock to “Buy” rating in Friday, January 8 report. The company was maintained on Monday, August 21 by Jefferies. The firm has “Neutral” rating given on Thursday, October 15 by M Partners. The firm has “Hold” rating by Drexel Hamilton given on Wednesday, September 9. Jefferies maintained the stock with “Hold” rating in Thursday, June 1 report. The firm has “Buy” rating given on Thursday, January 18 by Northland Capital. The firm has “Buy” rating by Northland Capital given on Wednesday, October 18. Northland Capital maintained it with “Buy” rating and $2000 target in Wednesday, April 18 report. See ADTRAN, Inc. (NASDAQ:ADTN) latest ratings:

19/04/2018 Broker: Cowen & Co Rating: Hold New Target: $15.0000 Maintain
19/04/2018 Broker: Jefferies Rating: Hold New Target: $16.0000 Maintain
18/04/2018 Broker: Needham Rating: Buy New Target: $18.0000 Maintain
18/04/2018 Broker: Northland Capital Rating: Buy New Target: $20.0000 Maintain
19/04/2018 Broker: Argus Research Old Rating: Buy New Rating: Hold Downgrade
18/01/2018 Broker: Northland Capital Rating: Buy New Target: $23.0 Maintain
17/01/2018 Broker: Jefferies Rating: Hold New Target: $17.25 Maintain
16/01/2018 Broker: Goldman Sachs Old Rating: Sell New Rating: Neutral Upgrade
12/01/2018 Broker: Needham Rating: Buy New Target: $22.0 Maintain
29/12/2017 Broker: Cowen & Co Rating: Hold New Target: $16.0 Maintain

Petroleum & Resources Corp increased Chevron Corporation (CVX) stake by 4.4% reported in 2018Q1 SEC filing. Petroleum & Resources Corp acquired 24,000 shares as Chevron Corporation (CVX)’s stock rose 6.62%. The Petroleum & Resources Corp holds 569,300 shares with $64.92 million value, up from 545,300 last quarter. Chevron Corporation now has $234.17B valuation. The stock decreased 2.19% or $2.75 during the last trading session, reaching $122.54. About 4.44 million shares traded. Chevron Corporation (NYSE:CVX) has risen 16.25% since June 21, 2017 and is uptrending. It has outperformed by 3.68% the S&P500. Some Historical CVX News: 30/05/2018 – Chevron Reports Strong Performance at Annual Stockholders Meeting; 10/04/2018 – Cal EMA Spills: SPILL Report – Chevron – 04/10/2018 10:34 AM; 07/05/2018 – KAZAKHSTAN’S TENGIZCHEVROIL PLANS TO CUT OIL OUTPUT AT ITS TENGIZ OILFIELD BY 500,000 T IN AUG AND BY 380,000 T IN OCT DUE TO PLANNED MAINTENANCE -ENERGY MINISTRY; 06/03/2018 – CHEVRON CEO SEES OIL ‘RANGE-BOUND’ NEAR CURRENT PRICES FOR 2018; 11/04/2018 – Oil major Total buys several assets located in Gulf of Mexico; 27/04/2018 – CHEVRON CORP CVX.N SAYS SEEING SOME OILFIELD SERVICE COST INFLATION IN PERMIAN BASIN AND OTHER U.S. SHALE FIELDS; 23/04/2018 – Texas Emissions: 282674 – CHEVRON PHILLIPS CHEMICAL PORT ARTHUR FACILITY; 09/04/2018 – CALIFORNIA RES. TO BUY CHEVRON’S STAKE IN ELK HILLS OIL FIELD; 24/04/2018 – Texas Emissions: 282702 – CHEVRON PHILLIPS CHEMICAL SWEENY OLD OCEAN FACILITIES; 06/03/2018 – CHEVRON: TENGIZ FIELD ON TRACK FOR FIRST PRODUCTION IN 2022

The stock decreased 5.10% or $0.77 during the last trading session, reaching $14.43. About 155,331 shares traded. ADTRAN, Inc. (NASDAQ:ADTN) has declined 23.60% since June 21, 2017 and is downtrending. It has underperformed by 36.17% the S&P500. Some Historical ADTN News: 30/05/2018 – Adtran Presenting at Cowen Conference Tomorrow; 17/04/2018 – Adtran 1Q Loss/Shr 19c; 17/04/2018 – ADTRAN 1Q ADJ LOSS/SHR 29C, EST. LOSS/SHR 14C; 15/05/2018 – Adtran Presenting at JPMorgan Conference Tomorrow; 03/04/2018 – ADTRAN, Inc. to Release First Quarter Earnings on April 18, 2018; 20/03/2018 ADTRAN Increases Market Leadership in North American MSO Business by Entering Broad Based Agreement with Sumitomo Electric Industries; 04/05/2018 – Adtran Presenting at JPMorgan Conference May 16; 20/03/2018 – ADTRAN INC ADTN.O – SECURED EPON BUSINESS FOR NORTH AMERICA FROM SUMITOMO ELECTRIC INDUSTRIES LTD; 15/05/2018 – Skyline Asset Management LP Exits Position in Adtran; 03/04/2018 – CORRECTING and REPLACING ADTRAN, Inc. to Release First Quarter Earnings on April 17, 2018

ADTRAN, Inc. provides networking and communications equipment worldwide. The company has market cap of $691.16 million. The firm operates through two divisions, Network Solutions and Services & Support. It has a 109.28 P/E ratio. It offers access and aggregation solutions, including fiber to the premises and fiber to the node multi-service access nodes (MSAN); fiber aggregation and FTTN MSAN; fiber to the distribution point optical network units; optical line terminals; fiber access network elements; optical networking edge aggregation; and IP digital subscriber line access multiplexers.

More news for ADTRAN, Inc. (NASDAQ:ADTN) were recently published by: Seekingalpha.com, which released: “Lumentum up, Infinera down as Goldman analyst covers opticals” on June 21, 2018. Nasdaq.com‘s article titled: “Report: Developing Opportunities within Spartan Motors, Ultragenyx Pharmaceutical, Advanced Energy Industries …” and published on June 19, 2018 is yet another important article.

Investors sentiment decreased to 1.01 in Q1 2018. Its down 0.09, from 1.1 in 2017Q4. It is negative, as 33 investors sold ADTRAN, Inc. shares while 42 reduced holdings. 26 funds opened positions while 50 raised stakes. 44.27 million shares or 5.24% more from 42.06 million shares in 2017Q4 were reported. Swiss Natl Bank has invested 0% in ADTRAN, Inc. (NASDAQ:ADTN). Mason Street Advisors Lc invested 0% in ADTRAN, Inc. (NASDAQ:ADTN). Aqr Capital Mngmt Limited Liability reported 77,835 shares. Canada Pension Plan Invest Board accumulated 0.01% or 563,100 shares. Vanguard Group Inc Inc holds 0% of its portfolio in ADTRAN, Inc. (NASDAQ:ADTN) for 4.70M shares. Sei Invs invested in 0% or 14 shares. Gemmer Asset Mgmt Ltd Limited Liability Company holds 0% of its portfolio in ADTRAN, Inc. (NASDAQ:ADTN) for 183 shares. Metropolitan Life Insurance Ny accumulated 0% or 16,382 shares. Deutsche National Bank Ag stated it has 0.01% of its portfolio in ADTRAN, Inc. (NASDAQ:ADTN). Comerica National Bank accumulated 185,534 shares. Tci Wealth Advsr holds 35 shares or 0% of its portfolio. Putnam Investments Ltd Co invested 0% of its portfolio in ADTRAN, Inc. (NASDAQ:ADTN). Numerixs Invest Technology Inc has invested 0.01% of its portfolio in ADTRAN, Inc. (NASDAQ:ADTN). State Board Of Administration Of Florida Retirement Sys stated it has 47,181 shares or 0% of all its holdings. Arizona State Retirement accumulated 76,429 shares.

Petroleum & Resources Corp decreased Cimarex Energy Company (NYSE:XEC) stake by 40,900 shares to 40,500 valued at $3.79M in 2018Q1. It also reduced Baker Hughes A Ge Company Class A stake by 41,000 shares and now owns 49,100 shares. Dowdupont Inc. was reduced too.

Since April 17, 2018, it had 0 buys, and 10 sales for $50.35 million activity. $1.54M worth of stock was sold by Geagea Joseph C on Monday, May 7. 4,750 shares valued at $603,067 were sold by JOHNSON JAMES WILLIAM on Thursday, June 14. 25,500 Chevron Corporation (NYSE:CVX) shares with value of $3.31M were sold by Pate R. Hewitt. Breber Pierre R sold $3.26M worth of stock or 25,000 shares. Wirth Michael K had sold 130,000 shares worth $16.64 million on Monday, May 7. Yarrington Patricia E sold $17.55M worth of stock.

More notable recent Chevron Corporation (NYSE:CVX) news were published by: Seekingalpha.com which released: “Chevron: Why I See Further Upside” on June 14, 2018, also Seekingalpha.com with their article: “FT: Exxon, Chevron accused over tax secrecy” published on June 06, 2018, Seekingalpha.com published: “Chevron starts second Wheatstone LNG production train” on June 15, 2018. More interesting news about Chevron Corporation (NYSE:CVX) were released by: Seekingalpha.com and their article: “Chevron: Bullish Off-Season Asian LNG Pricing” published on June 07, 2018 as well as Bizjournals.com‘s news article titled: “Chevron’s VC arm launches new $100M fund” with publication date: June 20, 2018.

Among 36 analysts covering Chevron Corporation (NYSE:CVX), 28 have Buy rating, 0 Sell and 8 Hold. Therefore 78% are positive. Chevron Corporation had 125 analyst reports since August 4, 2015 according to SRatingsIntel. The rating was upgraded by Goldman Sachs to “Neutral” on Friday, March 11. The rating was maintained by Citigroup on Friday, July 21 with “Buy”. The stock of Chevron Corporation (NYSE:CVX) has “Buy” rating given on Thursday, December 21 by Scotia Capital. BNP Paribas downgraded the shares of CVX in report on Friday, May 26 to “Underperform” rating. Citigroup upgraded the shares of CVX in report on Wednesday, December 2 to “Buy” rating. The firm earned “Sell” rating on Tuesday, September 19 by RBC Capital Markets. The stock of Chevron Corporation (NYSE:CVX) earned “Buy” rating by DZ Bank on Wednesday, March 7. The rating was maintained by Cowen & Co on Thursday, December 21 with “Buy”. The rating was initiated by Credit Agricole with “Outperform” on Tuesday, December 15. The rating was upgraded by Independent Research to “Buy” on Thursday, December 1.

Chevron Corporation (NYSE:CVX) Institutional Positions Chart

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