Hartford Funds Management Co LLC Acquires 1,057 Shares of Chevron Co. (NYSE:CVX)

Hartford Funds Management Co LLC raised its holdings in shares of Chevron Co. (NYSE:CVX) by 18.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 6,690 shares of the oil and gas company’s stock after purchasing an additional 1,057 shares during the quarter. Hartford Funds Management Co LLC’s holdings in Chevron were worth $969,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Pettinga Financial Advisors LLC increased its position in shares of Chevron by 10.1% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock valued at $438,000 after buying an additional 272 shares in the last quarter. Harvest Portfolios Group Inc. increased its position in shares of Chevron by 11.7% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 10,655 shares of the oil and gas company’s stock valued at $1,569,000 after buying an additional 1,113 shares in the last quarter. Maia Wealth LLC increased its position in shares of Chevron by 3.1% in the 3rd quarter. Maia Wealth LLC now owns 3,577 shares of the oil and gas company’s stock valued at $538,000 after buying an additional 107 shares in the last quarter. Blake Schutter Theil Wealth Advisors LLC bought a new stake in shares of Chevron in the 3rd quarter valued at $902,000. Finally, Financial Enhancement Group LLC increased its position in shares of Chevron by 13.8% in the 3rd quarter. Financial Enhancement Group LLC now owns 1,533 shares of the oil and gas company’s stock valued at $235,000 after buying an additional 186 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on CVX shares. Piper Sandler lowered their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Truist Financial lowered their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Barclays lowered their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Raymond James lowered their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Trading Up 1.4 %

Chevron stock opened at $152.94 on Friday. The firm has a 50-day moving average of $153.83 and a 200-day moving average of $151.62. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market cap of $269.27 billion, a price-to-earnings ratio of 15.73, a P/E/G ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the company earned $3.45 earnings per share. On average, equities analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.47%. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is 70.37%.

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.