Hartford Funds Management Co LLC Has $699,000 Holdings in Chevron Co. (NYSE:CVX)

Hartford Funds Management Co LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 32.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,687 shares of the oil and gas company’s stock after purchasing an additional 1,146 shares during the period. Hartford Funds Management Co LLC’s holdings in Chevron were worth $699,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Picton Mahoney Asset Management bought a new position in shares of Chevron during the 3rd quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV lifted its holdings in shares of Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares in the last quarter. Valued Wealth Advisors LLC bought a new stake in Chevron in the 4th quarter valued at approximately $33,000. Legacy Financial Group LLC bought a new stake in Chevron in the 3rd quarter valued at approximately $43,000. Finally, Roble Belko & Company Inc lifted its stake in Chevron by 77.3% in the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 150 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is owned by insiders.

Chevron Price Performance

Shares of NYSE CVX traded down $5.06 during mid-day trading on Tuesday, reaching $161.27. The company had a trading volume of 8,382,708 shares, compared to its average volume of 8,454,227. The firm has a market cap of $299.52 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 2.44 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The business’s 50-day simple moving average is $156.96 and its 200 day simple moving average is $151.68.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.55 EPS. On average, research analysts predict that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. Chevron’s payout ratio is 59.98%.

Analyst Upgrades and Downgrades

CVX has been the topic of several research reports. TD Cowen boosted their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday. Piper Sandler boosted their target price on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Barclays assumed coverage on Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target on the stock. Finally, Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a report on Monday, January 8th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $185.35.

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.