Hartford Financial Management Inc. Sells 1,728 Shares of Chevron Co. (NYSE:CVX)

Hartford Financial Management Inc. lessened its position in Chevron Co. (NYSE:CVX) by 4.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,922 shares of the oil and gas company’s stock after selling 1,728 shares during the period. Chevron accounts for about 1.1% of Hartford Financial Management Inc.’s portfolio, making the stock its 24th biggest holding. Hartford Financial Management Inc.’s holdings in Chevron were worth $5,585,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CVX. Anfield Capital Management LLC grew its position in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC lifted its stake in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Livelsberger Financial Advisory bought a new stake in Chevron in the third quarter valued at approximately $47,000. Krane Funds Advisors LLC acquired a new stake in Chevron during the 3rd quarter valued at approximately $47,000. Finally, MFA Wealth Advisors LLC bought a new position in Chevron during the 2nd quarter worth approximately $59,000. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CVX shares. Barclays reduced their price objective on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Mizuho cut their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Truist Financial lowered their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. UBS Group upped their target price on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Wolfe Research started coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Stock Performance

Shares of CVX opened at $148.80 on Friday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a 50 day moving average price of $146.85 and a two-hundred day moving average price of $153.01. The firm has a market capitalization of $272.14 billion, a P/E ratio of 14.73, a P/E/G ratio of 3.27 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter last year, the business posted $3.08 earnings per share. Chevron’s revenue was up 4.7% on a year-over-year basis. Equities analysts forecast that Chevron Co. will post 10.74 earnings per share for the current fiscal 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.