Huntington National Bank Lowers Position in Chevron Corporation $CVX

Huntington National Bank lessened its stake in Chevron Corporation (NYSE:CVX) by 2.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 451,700 shares of the oil and gas company’s stock after selling 13,350 shares during the quarter. Huntington National Bank’s holdings in Chevron were worth $68,844,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Strategic Wealth Advisors LLC purchased a new position in shares of Chevron in the fourth quarter worth $33,000. Daytona Street Capital LLC purchased a new position in shares of Chevron in the fourth quarter worth $44,000. Maseco LLP purchased a new position in shares of Chevron in the fourth quarter worth $49,000. Turning Point Benefit Group Inc. purchased a new position in shares of Chevron in the third quarter worth $49,000. Finally, High Point Wealth Management LLC purchased a new position in shares of Chevron in the fourth quarter worth $53,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $182.24 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 52-week low of $135.21 and a 52-week high of $214.71. The company has a market cap of $362.95 billion, a price-to-earnings ratio of 31.58, a PEG ratio of 0.61 and a beta of 0.51. The firm’s fifty day moving average is $192.89 and its 200 day moving average is $175.45.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter in the previous year, the business posted $2.18 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. Sell-side analysts forecast that Chevron Corporation will post 15.74 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be given a dividend of $1.78 per share. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. Chevron’s payout ratio is 123.40%.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 272,624 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $189.35, for a total transaction of $51,621,354.40. Following the transaction, the chief executive officer owned 31,266 shares in the company, valued at $5,920,217.10. The trade was a 89.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John B. Hess sold 380,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the transaction, the director owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,179,699 shares of company stock valued at $224,675,517. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Mizuho boosted their target price on shares of Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday. Scotiabank upped their price target on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Piper Sandler upped their price target on shares of Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Barclays upped their price target on shares of Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Melius Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $205.00 price target on the stock in a research note on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $205.70.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Mizuho raised its price target on Chevron to $230 and kept an outperform rating, signaling expectations for meaningful upside from current levels.
• Positive Sentiment: RBC Capital and UBS remained bullish after strong Q1 results, reinforcing the view that Chevron’s earnings strength and free cash flow can support the shares.
• Positive Sentiment: New coverage highlighted Chevron as a top high-yield energy name, with analysts emphasizing its dividend appeal and resilience for long-term income investors.
• Positive Sentiment: Chevron shareholders rejected a proposal for an independent board chair, which preserves the company’s current leadership structure and may be seen as a vote of confidence in management. Reuters article
• Neutral Sentiment: Multiple articles continued to frame Chevron as a durable, income-oriented energy stock, but these pieces were mostly commentary rather than new company-specific catalysts.
• Neutral Sentiment: Reports about Chevron’s Mediterranean gas expansion and recent valuation checks suggest long-term growth potential, though they did not provide a fresh short-term catalyst.
• Negative Sentiment: Some market commentary noted that Chevron is already trading at a premium to recent levels, which may be encouraging investors to wait for a better entry point.

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.