Chevron Corporation $CVX Stock Position Lessened by Park National Corp OH

Park National Corp OH lessened its position in shares of Chevron Corporation (NYSE:CVX) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,018 shares of the oil and gas company’s stock after selling 4,797 shares during the quarter. Park National Corp OH’s holdings in Chevron were worth $26,347,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Baker Tilly Wealth Management LLC grew its position in Chevron by 2.8% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,717 shares of the oil and gas company’s stock worth $963,000 after purchasing an additional 129 shares during the last quarter. Ferguson Wellman Capital Management Inc. increased its stake in Chevron by 0.6% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 911,718 shares of the oil and gas company’s stock valued at $186,182,000 after purchasing an additional 5,787 shares in the last quarter. CapWealth Advisors LLC raised its holdings in shares of Chevron by 3.9% in the third quarter. CapWealth Advisors LLC now owns 199,164 shares of the oil and gas company’s stock worth $40,671,000 after buying an additional 7,418 shares during the last quarter. Adelphi Trust Co lifted its stake in shares of Chevron by 5.0% during the third quarter. Adelphi Trust Co now owns 3,219 shares of the oil and gas company’s stock worth $657,000 after buying an additional 152 shares during the period. Finally, Heartwood Wealth Advisors LLC lifted its stake in shares of Chevron by 3.2% during the third quarter. Heartwood Wealth Advisors LLC now owns 11,227 shares of the oil and gas company’s stock worth $2,293,000 after buying an additional 348 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Andrew Walz sold 16,800 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the sale, the insider directly owned 14 shares of the company’s stock, valued at $2,814.84. This represents a 99.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Wirth sold 317,100 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $200.46, for a total value of $63,565,866.00. Following the sale, the chief executive officer owned 26,308 shares in the company, valued at $5,273,701.68. This trade represents a 92.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,152,582 shares of company stock worth $225,853,661 in the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the topic of several research reports. Royal Bank Of Canada upped their target price on Chevron from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, September 24th. UBS Group set a $250.00 price target on Chevron in a research note on Friday, September 25th. Sanford C. Bernstein increased their price objective on Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. Wall Street Zen raised Chevron from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, BMO Capital Markets increased their price target on shares of Chevron from $210.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, September 3rd. Twenty-one equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus price target of $210.87.

Chevron Stock Performance

Shares of NYSE CVX traded down $0.55 during trading on Monday, reaching $206.14. 2,941,323 shares of the company traded hands, compared to its average volume of 10,549,780. The stock has a market cap of $407.29 billion, a P/E ratio of 19.76, a PEG ratio of 0.59 and a beta of 0.53. The firm’s fifty day simple moving average is $202.83 and its 200 day simple moving average is $192.72. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $217.78.

Chevron (NYSE:CVX) last posted its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The firm had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same period last year, the company earned $1.77 earnings per share. Chevron’s revenue for the quarter was up 57.4% compared to the same quarter last year. As a group, research analysts anticipate that Chevron Corporation will post 16.98 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were issued a dividend of $1.78 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.5%. Chevron’s dividend payout ratio is 68.26%.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Rising crude prices are improving the outlook for Chevron’s upstream earnings and cash flow. Analysts see the company as having potential to reach new highs if the oil rally continues. Chevron: New All-Time Highs In Sight As Oil Surges
• Positive Sentiment: Chevron’s investments in politically challenging regions, including Venezuela and the war-torn Middle East, could provide access to high-value reserves and longer-term production growth if operating and regulatory risks are managed successfully. Why This Oil Giant Keeps Betting on Countries Everyone Else Avoids
• Positive Sentiment: Some market commentators continue to view Chevron as an attractively valued energy major with substantial cash flow, dividend appeal and exposure to higher oil prices. Why Jim Cramer Calls Chevron the King
• Neutral Sentiment: Chevron is heavily searched by investors, increasing visibility but not providing a fundamental change to earnings or valuation. Investors Heavily Search Chevron
• Neutral Sentiment: Chevron is promoting its CFO and moving the executive to lead oil and gas operations, alongside a planned CFO transition. The changes may strengthen operational leadership, but they also highlight heightened speculation about who will succeed CEO Mike Wirth. Chevron Promotes CFO as Succession Drama Heats Up
• Negative Sentiment: Investments in Venezuela and conflict-affected regions carry substantial geopolitical, sanctions, execution and capital-allocation risks, which could offset their potential production benefits. Chevron’s Geopolitical Investments

About Chevron

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.