Hartford Financial Management Inc. reduced its stake in Chevron Co. (NYSE:CVX) by 9.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,227 shares of the oil and gas company’s stock after selling 2,250 shares during the period. Chevron accounts for approximately 1.4% of Hartford Financial Management Inc.’s holdings, making the stock its 22nd largest holding. Hartford Financial Management Inc.’s holdings in Chevron were worth $2,782,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. Acrospire Investment Management LLC lifted its holdings in Chevron by 133.3% during the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after acquiring an additional 800 shares in the last quarter. Accurate Investment Solutions Inc. raised its stake in shares of Chevron by 59.1% in the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock valued at $159,000 after purchasing an additional 502 shares during the period. Ffcm LLC raised its stake in shares of Chevron by 121.1% in the 2nd quarter. Ffcm LLC now owns 1,501 shares of the oil and gas company’s stock valued at $160,000 after purchasing an additional 822 shares during the period. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Chevron in the 2nd quarter valued at about $160,000. Finally, Intellectus Partners LLC raised its stake in shares of Chevron by 1.0% in the 2nd quarter. Intellectus Partners LLC now owns 1,557 shares of the oil and gas company’s stock valued at $162,000 after purchasing an additional 15 shares during the period. Institutional investors and hedge funds own 64.98% of the company’s stock.
Several analysts have issued reports on CVX shares. Zacks Investment Research raised Chevron from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Wednesday, December 27th. Vetr raised Chevron from a “hold” rating to a “buy” rating and set a $134.35 price target on the stock in a research note on Tuesday, December 26th. Scotiabank reissued a “buy” rating and issued a $130.00 price target on shares of Chevron in a research note on Friday, December 22nd. Jefferies Group reissued a “buy” rating and issued a $140.00 price target on shares of Chevron in a research note on Wednesday, December 20th. Finally, Piper Jaffray reissued a “buy” rating and issued a $153.00 price target on shares of Chevron in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the stock. Chevron presently has a consensus rating of “Buy” and an average price target of $129.79.
Shares of NYSE CVX opened at $114.76 on Friday. The company has a market cap of $218,685.78, a price-to-earnings ratio of 31.02, a price-to-earnings-growth ratio of 2.25 and a beta of 1.16. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.83 and a current ratio of 1.03. Chevron Co. has a twelve month low of $102.55 and a twelve month high of $133.88.
Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.54). The business had revenue of $37.62 billion for the quarter, compared to analyst estimates of $38.43 billion. Chevron had a return on equity of 5.22% and a net margin of 6.49%. Chevron’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period last year, the firm earned $0.22 EPS. analysts anticipate that Chevron Co. will post 6.35 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Friday, February 16th were given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.08. Chevron’s payout ratio is 121.08%.
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Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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