Huntington National Bank Sells 13,350 Shares of Chevron Corporation $CVX

Huntington National Bank cut its stake in Chevron Corporation (NYSE:CVX - Free Report) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Redmond Asset Management LLC grew its stake in shares of Chevron by 2.0% in the fourth quarter. Redmond Asset Management LLC now owns 24,473 shares of the oil and gas company's stock worth $3,730,000 after acquiring an additional 486 shares during the period. Connecticut Capital Management Group LLC bought a new stake in shares of Chevron in the fourth quarter worth approximately $210,000. Kingsview Wealth Management LLC grew its stake in shares of Chevron by 4.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 114,215 shares of the oil and gas company's stock worth $17,407,000 after acquiring an additional 5,177 shares during the period. Smith Chas P & Associates PA Cpas grew its stake in shares of Chevron by 21.0% in the fourth quarter. Smith Chas P & Associates PA Cpas now owns 15,297 shares of the oil and gas company's stock worth $2,331,000 after acquiring an additional 2,651 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc boosted its holdings in shares of Chevron by 174.3% in the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 26,903 shares of the oil and gas company's stock worth $4,100,000 after buying an additional 17,096 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 272,624 shares of Chevron stock in a transaction that occurred 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 of the company's stock, valued at $5,920,217.10. The trade was a 89.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction that occurred 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 directly owned 278,045 shares in the company, valued at $53,718,294. This represents a 57.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,179,699 shares of company stock valued at $224,675,517. 0.56% of the stock is currently owned by company insiders.

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 Stock Performance

Shares of NYSE CVX opened at $182.24 on Thursday. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 12-month low of $135.21 and a 12-month high of $214.71. The firm has a market capitalization of $362.95 billion, a price-to-earnings ratio of 31.58, a price-to-earnings-growth ratio of 0.61 and a beta of 0.51. The firm has a 50 day moving average of $192.89 and a 200 day moving average of $175.45.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $51.86 billion. During the same quarter in the previous year, the firm earned $2.18 earnings per share. The company's revenue for the quarter was up 2.1% on a year-over-year basis. On average, research analysts anticipate that Chevron Corporation will post 15.74 earnings per share for the current year.

Chevron Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently issued reports on CVX shares. BNP Paribas Exane upgraded shares of Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 target price for the company in a research report on Friday, April 17th. BMO Capital Markets restated an "outperform" rating and set a $190.00 target price on shares of Chevron in a research report on Monday, February 2nd. UBS Group boosted their target price on shares of Chevron from $218.00 to $220.00 and gave the company a "buy" rating in a research report on Monday, May 4th. HSBC upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $215.00 target price for the company in a research report on Friday, March 20th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $216.00 target price on shares of Chevron in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Chevron currently has an average rating of "Moderate Buy" and an average price target of $205.70.

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.

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