Hartford Funds Management Co LLC Acquires 1,146 Shares of Chevron Co. (NYSE:CVX)

Hartford Funds Management Co LLC boosted its holdings in Chevron Co. (NYSE:CVX) by 32.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,687 shares of the oil and gas company’s stock after acquiring 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 filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Alpha Cubed Investments LLC grew its position in shares of Chevron by 252.6% during the fourth quarter. Alpha Cubed Investments LLC now owns 65,943 shares of the oil and gas company’s stock worth $9,836,000 after purchasing an additional 47,240 shares in the last quarter. MONECO Advisors LLC grew its holdings in Chevron by 111.1% during the 4th quarter. MONECO Advisors LLC now owns 17,850 shares of the oil and gas company’s stock valued at $2,662,000 after buying an additional 9,395 shares in the last quarter. Northcape Wealth Management LLC raised its position in shares of Chevron by 14.2% during the fourth quarter. Northcape Wealth Management LLC now owns 2,012 shares of the oil and gas company’s stock valued at $300,000 after buying an additional 250 shares during the last quarter. Brighton Jones LLC lifted its holdings in shares of Chevron by 3.4% in the fourth quarter. Brighton Jones LLC now owns 22,326 shares of the oil and gas company’s stock worth $3,330,000 after buying an additional 740 shares in the last quarter. Finally, Mission Wealth Management LP boosted its position in shares of Chevron by 4.1% during the fourth quarter. Mission Wealth Management LP now owns 29,865 shares of the oil and gas company’s stock worth $4,455,000 after acquiring an additional 1,178 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at $45,540. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.

Chevron Trading Down 3.0 %

Shares of NYSE:CVX traded down $5.06 during trading on Tuesday, reaching $161.27. 8,382,708 shares of the company were exchanged, compared to its average volume of 8,454,227. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The firm has a market capitalization of $299.52 billion, a PE ratio of 14.84, a P/E/G ratio of 2.44 and a beta of 1.12. The business’s fifty day simple moving average is $156.96 and its 200-day simple moving average is $151.68. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70.

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

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a report on Tuesday, February 6th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Raymond James upped their target price on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Mizuho lifted their price target on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, Barclays began coverage on Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.