Chevron Co. (NYSE:CVX) Shares Sold by Harmony Asset Management LLC

Harmony Asset Management LLC decreased its holdings in Chevron Co. (NYSE:CVX - Free Report) by 17.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,258 shares of the oil and gas company's stock after selling 3,948 shares during the quarter. Chevron comprises approximately 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 SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Chevron during the 4th quarter worth approximately $3,017,750,000. Raymond James Financial Inc. purchased a new position in Chevron in the 4th quarter valued at approximately $1,036,302,000. Bank of New York Mellon Corp raised its holdings in Chevron by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock worth $2,389,380,000 after purchasing an additional 2,432,756 shares during the last quarter. Amundi boosted its position in Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock worth $1,323,549,000 after purchasing an additional 1,910,262 shares in the last quarter. Finally, Capital World Investors boosted its position in Chevron by 11.4% during the fourth quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock worth $2,039,288,000 after purchasing an additional 1,440,808 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

CVX has been the subject of several research reports. UBS Group cut their price target on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Raymond James dropped their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Wells Fargo & Company reduced their price target on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Barclays lowered shares of Chevron from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Finally, BNP Paribas downgraded Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Trading Up 1.0%

Shares of CVX stock traded up $1.37 on Monday, reaching $136.66. 7,021,493 shares of the stock were exchanged, compared to its average volume of 8,081,681. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $238.66 billion, a P/E ratio of 14.06, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The firm has a 50 day moving average of $144.66 and a two-hundred day moving average of $151.17. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm's revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.93 earnings per share. On average, research analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders 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 yield of 5.01%. Chevron's dividend payout ratio (DPR) is 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.