Hartford Investment Management Co. Sells 2,804 Shares of Chevron Co. (NYSE:CVX)

Hartford Investment Management Co. reduced its holdings in Chevron Co. (NYSE:CVX) by 2.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,931 shares of the oil and gas company’s stock after selling 2,804 shares during the quarter. Hartford Investment Management Co.’s holdings in Chevron were worth $15,748,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Eagle Capital Management LLC increased its holdings in shares of Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after acquiring an additional 163 shares in the last quarter. Leo Wealth LLC grew its holdings in shares of Chevron by 19.6% during the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after buying an additional 1,354 shares in the last quarter. KCM Investment Advisors LLC grew its holdings in shares of Chevron by 2.5% during the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after buying an additional 8,168 shares in the last quarter. Hosking Partners LLP bought a new position in shares of Chevron during the first quarter worth about $4,924,000. Finally, Garner Asset Management Corp grew its holdings in shares of Chevron by 14.5% during the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock worth $3,128,000 after buying an additional 2,530 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CVX has been the subject of a number of research reports. Truist Financial decreased their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Wells Fargo & Company decreased their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Mizuho reduced their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. UBS Group increased their price target on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Barclays reduced their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Stock Performance

CVX opened at $150.46 on Thursday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The stock has a market cap of $277.29 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 2.73 and a beta of 1.09. The business has a 50 day moving average of $146.44 and a 200-day moving average of $153.45. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $3.08 EPS. On average, equities research analysts expect that Chevron Co. will post 10.95 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.33%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

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.