Hartford Investment Management Co. Sells 1,176 Shares of Chevron Corp. (CVX)
Hartford Investment Management Co. reduced its position in Chevron Corp. (NYSE:CVX) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 465,154 shares of the company’s stock after selling 1,176 shares during the period. Chevron Corp. makes up about 1.0% of Hartford Investment Management Co.’s portfolio, making the stock its 17th largest position. Hartford Investment Management Co.’s holdings in Chevron Corp. were worth $48,762,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of CVX. Univest Corp of Pennsylvania boosted its position in Chevron Corp. by 0.3% in the second quarter. Univest Corp of Pennsylvania now owns 4,941 shares of the company’s stock worth $518,000 after buying an additional 14 shares during the last quarter. Barry Investment Advisors LLC boosted its position in Chevron Corp. by 0.6% in the second quarter. Barry Investment Advisors LLC now owns 2,699 shares of the company’s stock worth $283,000 after buying an additional 17 shares during the last quarter. Alpha Windward LLC boosted its position in Chevron Corp. by 0.9% in the second quarter. Alpha Windward LLC now owns 2,715 shares of the company’s stock worth $285,000 after buying an additional 24 shares during the last quarter. Stillwater Investment Management LLC boosted its position in Chevron Corp. by 1.1% in the second quarter. Stillwater Investment Management LLC now owns 2,356 shares of the company’s stock worth $247,000 after buying an additional 25 shares during the last quarter. Finally, Ronna Sue Cohen boosted its position in Chevron Corp. by 1.0% in the second quarter. Ronna Sue Cohen now owns 4,531 shares of the company’s stock worth $475,000 after buying an additional 47 shares during the last quarter. 62.24% of the stock is owned by institutional investors and hedge funds.
Chevron Corp. (NYSE:CVX) traded down 0.90% during midday trading on Tuesday, hitting $103.04. 5,337,338 shares of the stock traded hands. The company’s market cap is $194.39 billion. The firm’s 50-day moving average is $101.02 and its 200-day moving average is $101.21. Chevron Corp. has a 52-week low of $75.33 and a 52-week high of $107.58.
Chevron Corp. (NYSE:CVX) last announced its quarterly earnings results on Friday, July 29th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of $0.32 by $1.10. Chevron Corp. had a positive return on equity of 1.07% and a negative net margin of 0.64%. The business earned $29.28 billion during the quarter, compared to the consensus estimate of $25.78 billion. During the same quarter in the prior year, the firm posted $0.30 EPS. The company’s revenue for the quarter was down 27.4% on a year-over-year basis. Analysts predict that Chevron Corp. will post $1.31 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were given a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend was Wednesday, August 17th. Chevron Corp.’s dividend payout ratio is presently -1,097.44%.
CVX has been the topic of a number of research analyst reports. Vetr upgraded shares of Chevron Corp. from a “hold” rating to a “buy” rating and set a $107.24 target price on the stock in a research note on Tuesday, August 9th. Jefferies Group reiterated a “buy” rating on shares of Chevron Corp. in a research note on Friday, August 5th. Zacks Investment Research upgraded shares of Chevron Corp. from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a research note on Tuesday, July 12th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $125.00 target price on shares of Chevron Corp. in a research note on Thursday, July 28th. Thirteen equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $105.09.
In related news, insider Pierre R. Breber sold 21,000 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $98.77, for a total value of $2,074,170.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Inge G. Thulin purchased 487 shares of Chevron Corp. stock in a transaction that occurred on Monday, August 15th. The stock was acquired at an average price of $102.87 per share, for a total transaction of $50,097.69. The disclosure for this purchase can be found here. 0.40% of the stock is currently owned by corporate insiders.
Chevron Corp. Company Profile
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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