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

Harmony Asset Management LLC decreased its stake in shares of Chevron Co. (NYSE:CVX) by 17.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,258 shares of the oil and gas company’s stock after selling 3,948 shares during the quarter. Chevron comprises about 1.0% of Harmony Asset Management LLC’s portfolio, making the stock its 24th biggest holding. Harmony Asset Management LLC’s holdings in Chevron were worth $2,645,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CVX. Life Planning Partners Inc acquired a new position in shares of Chevron during the 4th quarter worth approximately $25,000. IMG Wealth Management Inc. bought a new position in shares of Chevron during the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron during the 4th quarter worth approximately $29,000. 10Elms LLP bought a new position in shares of Chevron during the 4th quarter worth approximately $29,000. Finally, Fairway Wealth LLC boosted its stake in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 88 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. DZ Bank downgraded Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a research note on Tuesday, May 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Barclays downgraded Chevron from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Wells Fargo & Company reduced their target price on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Finally, Mizuho reduced their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $160.24.

Chevron Stock Performance

CVX opened at $135.57 on Thursday. The business has a fifty day simple moving average of $145.61 and a 200 day simple moving average of $151.50. The company has a market capitalization of $236.75 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96.

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

Chevron Announces Dividend

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

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.