Park National Corp OH Decreases Position in Chevron Co. (NYSE:CVX)

Park National Corp OH trimmed its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 4.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 166,724 shares of the oil and gas company's stock after selling 7,572 shares during the quarter. Park National Corp OH's holdings in Chevron were worth $27,891,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. IMG Wealth Management Inc. purchased a new stake in Chevron during the fourth quarter worth approximately $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Chevron during the fourth quarter worth approximately $29,000. 10Elms LLP purchased a new stake in Chevron during the fourth quarter worth approximately $29,000. Fairway Wealth LLC lifted its stake in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 88 shares during the last quarter. Finally, Navigoe LLC purchased a new stake in Chevron during the fourth quarter worth approximately $33,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

CVX stock traded down $1.48 on Friday, reaching $136.43. 12,856,437 shares of the company's stock were exchanged, compared to its average volume of 8,106,167. The stock has a fifty day moving average of $141.88 and a 200-day moving average of $150.52. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The firm has a market cap of $238.26 billion, a PE ratio of 14.04, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the prior year, the company posted $2.93 earnings per share. Chevron's quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's dividend payout ratio is presently 78.17%.

Analysts Set New Price Targets

Several research analysts have commented on CVX shares. BNP Paribas lowered Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Wells Fargo & Company cut their price target on Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Raymond James cut their price target on Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research report on Monday, February 3rd. TD Cowen cut their price target on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Finally, Redburn Atlantic reaffirmed a "sell" rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Chevron presently has a consensus rating of "Hold" and an average target price of $160.24.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.