Hartford Investment Management Co. Sells 4,030 Shares of Chevron Corporation $CVX

Hartford Investment Management Co. lessened its stake in Chevron Corporation (NYSE:CVX) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,918 shares of the oil and gas company’s stock after selling 4,030 shares during the quarter. Hartford Investment Management Co.’s holdings in Chevron were worth $14,021,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Sage Capital Advisors llc lifted its position in shares of Chevron by 2.2% during the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock valued at $7,097,000 after purchasing an additional 919 shares in the last quarter. CCG Wealth Management LLC lifted its position in shares of Chevron by 2.3% during the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock worth $1,060,000 after buying an additional 145 shares in the last quarter. Ignite Planners LLC lifted its position in shares of Chevron by 14.1% during the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock worth $2,060,000 after buying an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. boosted its stake in shares of Chevron by 9.1% in the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock worth $993,000 after buying an additional 495 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of Chevron by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock valued at $24,075,000 after acquiring an additional 675 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent analyst reports. TD Cowen lifted their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. Morgan Stanley assumed coverage on Chevron in a research note on Monday, August 4th. They set an “overweight” rating and a $174.00 target price on the stock. Scotiabank restated a “sector perform” rating and set a $160.00 price target (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Melius assumed coverage on shares of Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective for the company. Finally, Bank of America boosted their target price on shares of Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $165.05.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Chevron Price Performance

CVX opened at $160.92 on Friday. The firm has a 50-day moving average price of $155.83 and a 200-day moving average price of $149.11. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $278.08 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 1.99 and a beta of 0.90.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same period last year, the firm earned $2.55 EPS. Chevron’s revenue for the quarter was down 12.4% on a year-over-year basis. Equities analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. Chevron’s payout ratio is 88.03%.

About Chevron

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.