Hartford Investment Management Co. reduced its holdings in Chevron Co. (NYSE:CVX – Get Rating ) by 6.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 196,160 shares of the oil and gas company’s stock after selling 13,501 shares during the period. Chevron makes up about 0.8% of Hartford Investment Management Co.’s investment portfolio, making the stock its 16th largest position. Hartford Investment Management Co.’s holdings. in Chevron were worth $31,941,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of CVX. Clarity Financial LLC raised its position in shares of Chevron by 2.2% during the first quarter. Clarity Financial LLC now owns 2,790 shares of the oil and gas company’s stock valued at $454,000 after purchasing an additional 61 shares during the last quarter. LCM Capital Management Inc raised its stake in Chevron by 0.9% in the first quarter. LCM Capital Management Inc now owns 7,306 shares of the oil and gas company’s stock worth $1,190,000 after acquiring an additional 63 shares during the period. Advocacy Wealth Management Services LLC boosted its stake in Chevron by 30.7% in the first quarter. Advocacy Wealth Management Services LLC now owns 294 shares of the oil and gas company’s stock valued at $48,000 after acquiring an additional 69 shares during the period. Evanson Asset Management LLC boosted its stake in Chevron by 0.4% in the first quarter. Evanson Asset Management LLC now owns 16,341 shares of the oil and gas company’s stock valued at $2,661,000 after acquiring an additional 70 shares during the period. Finally, Red Spruce Capital LLC boosted its stake in shares of Chevron by 1.0% in the first quarter. Red Spruce Capital LLC now owns 7,213 shares of the oil and gas company’s stock valued at $1,174,000 after buying an additional 71 shares during the period. Hedge funds and other institutional investors own 65.89% of the company’s shares.
A number of research firms recently commented on CVX. Societe Generale lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $175.00 price objective on the stock. in a research note on Friday, May 20th. Goldman Sachs Group decreased their price objective on shares of Chevron from $181.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 22nd. Royal Bank of Canada lowered shares of Chevron from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $160.00 to $165.00 in a research note on Thursday, April 21st. Wells Fargo & Company boosted their price objective on shares of Chevron from $150.00 to $184.00 and gave the company an “overweight” rating in a research note on Friday, March 11th. Finally, Barclays upped their target price on shares of Chevron from $183.00 to $196.00 and gave the stock an “overweight” rating in a report on Tuesday, May 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $167.24.
Shares of CVX stock opened at $146.51 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick earnings ratio of 1.22. Chevron Co. has a fifty-two week low of $92.86 and a fifty-two week high of $182.40. The stock’s 50-day moving average is $164.13, and its two-hundred-day moving average is $151.34. The firm has a market cap of $287.86 billion, a P/E ratio of 13.77, a PEG ratio of 0.64 and a beta of 1.14.
Chevron (NYSE:CVX – Get Rating) last posted its quarterly earnings results on Friday, April 29th. The oil and gas company reported $3.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.44 by ($0.08). The company had revenue of $54.37 billion for the quarter, compared to the consensus estimate of $54.96 billion. Chevron has a return on equity of 14.66% and a net margin of 11.10%. The business’s revenue was up 69.8% compared to the same quarter last year. During the same quarter last year, the company reported $0.90 EPS. As a group, analysts expect Chevron Co. to post 17.4 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Thursday, May 19th were given a $1.42 dividend. This represents an annualized dividend of $5.68 and a dividend yield of 3.88%. The ex-dividend date of this dividend was Wednesday, May 18th. Chevron’s dividend payout ratio is 53.38%.
In other news, Director Enrique Hernandez, Jr. sold 11,799 shares of the firm’s stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $175.00, for a total value of $2,064,825.00. Following the sale, the director now owns 24,281 shares in the company, valued at $4,249,175. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Wanda M. Austin sold 12,039 shares of the firm’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $177.29, for a total transaction of $2,134,394.31. Following the completion of the sale, the director now owns 3,543 shares in the company, valued at approximately $628,138.47. Disclosure of this sale can be found here. Over the last three months, insiders have sold 561,726 shares of company stock worth $94,057,396. Insiders own 0.32% of the company’s stock.
About Chevron (Get Rating)
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemical operations worldwide. 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 related to liquefied natural gas; transportation of crude oil by pipelines; and transportation, storage and marketing of natural gas, and operates a gas-to-liquids plant.
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