Harmony Asset Management LLC Reduces Holdings in Chevron Corporation $CVX

Harmony Asset Management LLC lowered its stake in Chevron Corporation (NYSE:CVX) by 35.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,374 shares of the oil and gas company’s stock after selling 5,090 shares during the quarter. Harmony Asset Management LLC’s holdings in Chevron were worth $1,456,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Quaker Wealth Management LLC boosted its stake in shares of Chevron by 197.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 439 shares during the last quarter. Decker Retirement Planning Inc. purchased a new position in shares of Chevron during the third quarter valued at approximately $34,000. Vermillion & White Wealth Management Group LLC boosted its position in Chevron by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 118 shares during the last quarter. IMG Wealth Management Inc. grew its stake in Chevron by 52.3% in the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 91 shares during the period. Finally, Marquette Asset Management LLC acquired a new position in Chevron in the 3rd quarter valued at $41,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CVX shares. Hsbc Global Res cut Chevron from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Wall Street Zen raised Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. JPMorgan Chase & Co. raised shares of Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 price objective for the company in a research note on Tuesday, January 20th. Argus set a $203.00 price objective on shares of Chevron in a report on Tuesday. Finally, Citigroup lowered their target price on shares of Chevron from $185.00 to $179.00 and set a “buy” rating for the company in a report on Monday, January 5th. Twelve equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Chevron currently has an average rating of “Hold” and a consensus price target of $175.00.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wall Street bullishness: Goldman Sachs and other buy-side analysts reiterated bullish views or raised targets, and boutiques including TD Cowen and Wells Fargo published favorable forecasts/price-target increases that support buying interest. Read More.
• Positive Sentiment: Dividend increase: Chevron raised its quarterly payout to $1.78 (annualized $7.12, ~4% yield), reinforcing the income thesis that draws dividend-focused investors and supports the stock’s re-rating. Read More.
• Positive Sentiment: Project commitments: Chevron reconfirmed commitment to the Yoyo–Yolanda gas project (Cameroon/Equatorial Guinea), a production/growth catalyst for gas exposure and long‑term cash flow. Read More.
• Neutral Sentiment: Quarterly results mixed: Q4 beat EPS expectations ($1.52 vs. $1.44) but revenue missed and year-over-year profit fell — supports cash-flow narrative but tempers near-term growth hopes. Read More.
• Neutral Sentiment: Syria offshore MOU: Chevron signed a memorandum of understanding to evaluate offshore exploration in Syrian waters with a Qatari partner — a potential long-term resource opportunity but with geopolitical and sanction risks that make near-term impacts uncertain. Read More.
• Negative Sentiment: Insider selling: Several senior insiders (including the CFO) disclosed large share sales in late January, which may create short-term sentiment/headline pressure despite routine explanations (taxes, diversification). Read More.
• Negative Sentiment: Macro/headwinds: Oil prices eased as geopolitical risk softened, which can cap near-term revenue and margin expectations for integrated majors like Chevron. Read More.
• Negative Sentiment: Cautious notes: A few firms (HSBC and others) trimmed views or moved to Hold, arguing recent gains may have priced in much of the upside — these calls can limit further rallies. Read More.

Insider Transactions at Chevron

In other Chevron news, Vice Chairman Mark A. Nelson sold 45,800 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $174.17, for a total value of $7,976,986.00. Following the transaction, the insider directly owned 7,161 shares of the company’s stock, valued at $1,247,231.37. This trade represents a 86.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider R. Hewitt Pate sold 41,134 shares of the business’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $176.40, for a total value of $7,256,037.60. Following the transaction, the insider owned 4,169 shares in the company, valued at approximately $735,411.60. This represents a 90.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 764,958 shares of company stock worth $122,930,032 in the last quarter. 0.21% of the stock is owned by corporate insiders.

Chevron Stock Up 1.8%

Shares of NYSE:CVX opened at $181.28 on Thursday. The stock has a 50-day simple moving average of $158.11 and a 200-day simple moving average of $156.02. The stock has a market capitalization of $365.01 billion, a P/E ratio of 27.22, a PEG ratio of 12.50 and a beta of 0.70. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $182.59. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 1.15.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.08. Chevron had a net margin of 6.51% and a return on equity of 8.23%. The firm had revenue of $45.79 billion for the quarter, compared to analysts’ expectations of $48.18 billion. During the same period in the previous year, the company posted $2.06 earnings per share. Chevron’s revenue was down 10.2% compared to the same quarter last year. Equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th will be given a dividend of $1.78 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. Chevron’s dividend payout ratio is currently 102.70%.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.