Huntington National Bank Lowers Stock Position in Chevron Corporation $CVX

Huntington National Bank reduced its position in shares of Chevron Corporation (NYSE:CVX) by 2.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 465,050 shares of the oil and gas company’s stock after selling 11,313 shares during the period. Huntington National Bank’s holdings in Chevron were worth $72,218,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vishria Bird Financial Group LLC grew its holdings in shares of Chevron by 1.2% in the third quarter. Vishria Bird Financial Group LLC now owns 5,285 shares of the oil and gas company’s stock valued at $821,000 after acquiring an additional 65 shares in the last quarter. Nexus Investment Management ULC boosted its position in Chevron by 0.9% in the third quarter. Nexus Investment Management ULC now owns 7,641 shares of the oil and gas company’s stock worth $1,187,000 after purchasing an additional 65 shares during the last quarter. Scott & Selber Inc. grew its stake in Chevron by 0.5% in the 3rd quarter. Scott & Selber Inc. now owns 13,391 shares of the oil and gas company’s stock valued at $2,079,000 after purchasing an additional 65 shares during the period. White Knight Strategic Wealth Advisors LLC increased its position in shares of Chevron by 3.0% during the 2nd quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company’s stock valued at $319,000 after purchasing an additional 65 shares during the last quarter. Finally, William B. Walkup & Associates Inc. raised its stake in shares of Chevron by 1.0% during the 3rd quarter. William B. Walkup & Associates Inc. now owns 6,356 shares of the oil and gas company’s stock worth $987,000 after purchasing an additional 66 shares during the period. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CVX has been the subject of several research reports. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $180.00 price target for the company. in a research report on Monday, February 2nd. Piper Sandler reduced their target price on shares of Chevron from $178.00 to $174.00 and set an “overweight” rating for the company in a research report on Thursday, January 8th. Bank of America lowered their price target on shares of Chevron from $183.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. Jefferies Financial Group upped their price objective on Chevron from $174.00 to $189.00 and gave the company a “buy” rating in a research note on Wednesday, January 14th. Finally, JPMorgan Chase & Co. raised Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 target price for the company in a research report on Tuesday, January 20th. Thirteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, Chevron has an average rating of “Hold” and a consensus target price of $176.36.

Chevron Trading Up 1.3%

NYSE:CVX opened at $186.47 on Friday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $187.90. The stock’s fifty day moving average price is $169.52 and its two-hundred day moving average price is $159.57. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86. The company has a market cap of $372.07 billion, a P/E ratio of 28.00, a P/E/G ratio of 12.19 and a beta of 0.70.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.08. The company had revenue of $45.79 billion for the quarter, compared to analyst estimates of $48.18 billion. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The firm’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.06 EPS. As a group, analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be issued a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This is a positive change from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. Chevron’s payout ratio is currently 106.91%.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Berkshire Hathaway has shifted its portfolio after Buffett’s exit and added to its Chevron stake, a high-profile institutional buyer that can support the stock and signal confidence to other investors. Berkshire Hathaway Shifts As Buffett Exits And Abel Faces New Tests
• Positive Sentiment: Coverage from The Motley Fool and other outlets remains bullish on CVX’s upside (including $200 targets) and highlights its attractive yield, which attracts income-focused investors. Is Chevron Stock Going to $200?
• Positive Sentiment: Jim Cramer publicly recommended holding Chevron, calling it a stock that can run higher and highlighting its 3.85% yield — media endorsements can lift retail demand. Jim Cramer on Chevron: “I Would Hold on to That”
• Neutral Sentiment: Macro/sector story: U.S. actions in Venezuela have strengthened Guyana’s oil future, a geopolitical development that supports long-term offshore oil investment and is generally positive for major oil companies’ sector outlook (indirect for Chevron). How America’s Action in Venezuela Guaranteed Guyana’s Oil Future
• Neutral Sentiment: Investor interest in dividend stocks/ETFs (multiple roundup pieces) increases demand for high-yield names like Chevron, but these are broader flows rather than company-specific catalysts. Got $10,000? Put It in These Dividend ETFs Now
• Negative Sentiment: A recent DCF-based intrinsic-value write-up estimates Chevron is overvalued by ~30% (intrinsic value ~$126), a valuation critique that could limit upside or trigger profit-taking among value-focused funds. Our Calculation Of Intrinsic Value: Chevron Corporation

Insider Buying and Selling

In other Chevron news, Vice Chairman Mark A. Nelson sold 45,800 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $174.17, for a total value of $7,976,986.00. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider R. Hewitt Pate sold 41,134 shares of the company’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $176.40, for a total transaction of $7,256,037.60. Following the completion of the transaction, the insider directly owned 4,169 shares in the company, valued at approximately $735,411.60. The trade was a 90.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 534,898 shares of company stock valued at $89,543,711 in the last three months. Insiders own 0.21% of the company’s stock.

Chevron Company Profile

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.