Harmony Asset Management LLC Has $3.27 Million Stake in Chevron Co. (NYSE:CVX)

Harmony Asset Management LLC cut its holdings in shares of Chevron Co. (NYSE:CVX) by 23.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,206 shares of the oil and gas company’s stock after selling 6,691 shares during the period. Chevron comprises approximately 1.2% of Harmony Asset Management LLC’s investment portfolio, making the stock its 19th biggest position. Harmony Asset Management LLC’s holdings in Chevron were worth $3,270,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVX. HighTower Advisors LLC increased its holdings in Chevron by 11.7% during the 3rd quarter. HighTower Advisors LLC now owns 2,094,149 shares of the oil and gas company’s stock worth $308,208,000 after acquiring an additional 219,088 shares during the period. Hilltop Holdings Inc. lifted its position in shares of Chevron by 210.2% in the third quarter. Hilltop Holdings Inc. now owns 95,037 shares of the oil and gas company’s stock valued at $13,996,000 after acquiring an additional 64,404 shares in the last quarter. Hollow Brook Wealth Management LLC lifted its stake in shares of Chevron by 7.2% in the 3rd quarter. Hollow Brook Wealth Management LLC now owns 48,653 shares of the oil and gas company’s stock valued at $7,165,000 after purchasing an additional 3,267 shares during the last quarter. Garden State Investment Advisory Services LLC boosted its holdings in shares of Chevron by 27.6% during the third quarter. Garden State Investment Advisory Services LLC now owns 2,960 shares of the oil and gas company’s stock worth $437,000 after purchasing an additional 641 shares during the period. Finally, Coastwise Capital Group LLC increased its position in shares of Chevron by 36.4% during the 3rd quarter. Coastwise Capital Group LLC now owns 6,317 shares of the oil and gas company’s stock worth $930,000 after purchasing an additional 1,685 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CVX. Royal Bank of Canada upped their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. UBS Group increased their price target on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Barclays increased their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company lowered their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $175.56.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.20% of the stock is owned by insiders.

Chevron Stock Up 0.2 %

Shares of CVX stock opened at $162.21 on Tuesday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market cap of $291.51 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 3.58 and a beta of 1.10. The stock’s fifty day moving average price is $153.36 and its 200 day moving average price is $152.46.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $3.05 EPS. On average, research analysts expect that Chevron Co. will post 10.53 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

Chevron Company 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.