Chevron Co. (NYSE:CVX) Holdings Lowered by Hartford Financial Management Inc.

Hartford Financial Management Inc. trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,230 shares of the oil and gas company’s stock after selling 692 shares during the quarter. Chevron comprises 1.1% of Hartford Financial Management Inc.’s holdings, making the stock its 24th biggest position. Hartford Financial Management Inc.’s holdings in Chevron were worth $5,392,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Quarry LP increased its position in shares of Chevron by 172.2% in the second quarter. Quarry LP now owns 411 shares of the oil and gas company’s stock worth $64,000 after acquiring an additional 260 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Chevron by 75.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 138,885 shares of the oil and gas company’s stock worth $21,724,000 after acquiring an additional 59,885 shares in the last quarter. Czech National Bank grew its position in Chevron by 6.1% in the third quarter. Czech National Bank now owns 346,490 shares of the oil and gas company’s stock worth $51,028,000 after acquiring an additional 19,878 shares in the last quarter. Curbstone Financial Management Corp lifted its stake in shares of Chevron by 3.7% in the third quarter. Curbstone Financial Management Corp now owns 13,604 shares of the oil and gas company’s stock worth $2,003,000 after buying an additional 486 shares during the last quarter. Finally, Farmers Trust Co. lifted its stake in shares of Chevron by 3.6% in the third quarter. Farmers Trust Co. now owns 9,704 shares of the oil and gas company’s stock worth $1,429,000 after buying an additional 334 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on CVX. Royal Bank of Canada upped their target price on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Truist Financial increased their price objective on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday, January 13th. UBS Group upped their target price on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Piper Sandler dropped their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by insiders.

Chevron Stock Down 4.5 %

CVX opened at $149.21 on Friday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a market capitalization of $268.14 billion, a P/E ratio of 16.40, a P/E/G ratio of 1.35 and a beta of 1.12. The stock has a fifty day moving average of $153.46 and a 200-day moving average of $151.20.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.44% and a return on equity of 13.15%. During the same period last year, the company posted $3.45 earnings per share. On average, equities analysts expect that Chevron Co. will post 10.18 EPS for the current year.

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.