Hartford Funds Management Co LLC Has $830,000 Stock Holdings in Chevron Co. (NYSE:CVX)

Hartford Funds Management Co LLC lowered its stake in Chevron Co. (NYSE:CVX) by 11.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,633 shares of the oil and gas company’s stock after selling 702 shares during the period. Hartford Funds Management Co LLC’s holdings in Chevron were worth $830,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Rational Advisors LLC bought a new stake in Chevron during the 3rd quarter worth $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron during the third quarter valued at about $30,000. Anfield Capital Management LLC grew its holdings in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC increased its stake in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares during the period. Finally, Krane Funds Advisors LLC bought a new position in Chevron in the 3rd quarter valued at approximately $47,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CVX shares. Barclays upped their price target on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Bank of America assumed coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Scotiabank reduced their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company lowered their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Finally, UBS Group upped their target price on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a report on Monday, November 4th. Four 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 presently has an average rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Stock Up 0.5 %

Chevron stock opened at $162.36 on Friday. The company has a market capitalization of $291.78 billion, a PE ratio of 17.84, a PEG ratio of 3.56 and a beta of 1.09. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm’s fifty day moving average is $151.58 and its 200 day moving average is $152.62. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the prior year, the business earned $3.05 earnings per share. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that Chevron Co. will post 10.55 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.02%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.