Huntington National Bank Sells 11,313 Shares of Chevron Corporation $CVX

Huntington National Bank cut its stake in shares of Chevron Corporation (NYSE:CVX) by 2.4% in the 3rd quarter, HoldingsChannel reports. The firm 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 reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vishria Bird Financial Group LLC grew its position in 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 worth $821,000 after acquiring an additional 65 shares in the last quarter. Nexus Investment Management ULC lifted its stake in Chevron by 0.9% during 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. boosted its holdings in shares of Chevron by 0.5% in the 3rd quarter. Scott & Selber Inc. now owns 13,391 shares of the oil and gas company’s stock worth $2,079,000 after purchasing an additional 65 shares in the last quarter. 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 holdings 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 valued at $987,000 after buying an additional 66 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other Chevron news, insider Andrew Benjamin Walz sold 22,200 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $176.53, for a total value of $3,918,966.00. Following the completion of the transaction, the insider directly owned 666 shares in the company, valued at approximately $117,568.98. This represents a 97.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Eimear P. Bonner sold 32,100 shares of the firm’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $175.01, for a total transaction of $5,617,821.00. Following the completion of the sale, the chief financial officer directly owned 4,366 shares of the company’s stock, valued at approximately $764,093.66. This represents a 88.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 534,898 shares of company stock valued at $89,543,711 over the last 90 days. Company insiders own 0.21% of the company’s stock.

Chevron News Roundup

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

Chevron Price Performance

Shares of Chevron stock opened at $186.47 on Friday. The company’s fifty day simple moving average is $169.52 and its two-hundred day simple moving average is $159.57. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $187.90. The firm has a market cap of $372.07 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 12.19 and a beta of 0.70. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21.

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

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. This is a boost from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend is Tuesday, February 17th. Chevron’s payout ratio is presently 106.91%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CVX. Jefferies Financial Group boosted their target price on Chevron from $174.00 to $189.00 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. BMO Capital Markets restated an “outperform” rating and issued a $190.00 price objective on shares of Chevron in a report on Monday, February 2nd. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $180.00 target price on the stock. in a report on Monday, February 2nd. Wells Fargo & Company upped their price target on shares of Chevron from $196.00 to $204.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Finally, Bank of America decreased their price objective on Chevron from $183.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and a consensus price target of $176.36.

Chevron 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.