Harmony Asset Management LLC Has $2.65 Million Stock Position in Chevron Co. (NYSE:CVX)

Harmony Asset Management LLC trimmed its position in Chevron Co. (NYSE:CVX) by 17.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,258 shares of the oil and gas company’s stock after selling 3,948 shares during the quarter. Chevron makes up 1.0% of Harmony Asset Management LLC’s portfolio, making the stock its 24th biggest position. Harmony Asset Management LLC’s holdings in Chevron were worth $2,645,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new stake in Chevron in the fourth quarter worth about $25,000. IMG Wealth Management Inc. bought a new position in Chevron during the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron during the fourth quarter worth about $29,000. 10Elms LLP bought a new position in Chevron during the fourth quarter worth about $29,000. Finally, Fairway Wealth LLC boosted its holdings in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after buying an additional 88 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CVX shares. Mizuho reduced their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Raymond James reduced their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. BNP Paribas cut Chevron to a “cautious” rating in a report on Tuesday, April 15th. Finally, Truist Financial dropped their price target on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $160.24.

Chevron Stock Down 1.2%

Shares of Chevron stock opened at $135.57 on Thursday. The business’s 50 day simple moving average is $145.61 and its 200 day simple moving average is $151.50. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The firm has a market cap of $236.75 billion, a PE ratio of 13.95, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter last year, the firm earned $2.93 EPS. Chevron’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s dividend payout ratio is presently 78.17%.

About Chevron

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.