Park National Corp OH Sells 6,441 Shares of Chevron Corporation $CVX

Park National Corp OH lessened its holdings in shares of Chevron Corporation (NYSE:CVX) by 4.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 146,118 shares of the oil and gas company’s stock after selling 6,441 shares during the quarter. Park National Corp OH’s holdings in Chevron were worth $22,691,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Elequin Capital LP bought a new position in shares of Chevron during the 1st quarter valued at about $31,000. Quaker Wealth Management LLC lifted its stake in Chevron by 197.7% in the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 439 shares in the last quarter. Vermillion & White Wealth Management Group LLC boosted its holdings in shares of Chevron by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 118 shares during the period. IMG Wealth Management Inc. increased its position in shares of Chevron by 52.3% during the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 91 shares in the last quarter. Finally, GFG Capital LLC acquired a new stake in shares of Chevron during the second quarter worth $42,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CVX. Melius Research started coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price for the company. Mizuho lifted their target price on Chevron from $204.00 to $206.00 and gave the company an “outperform” rating in a research report on Friday. Barclays reduced their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Finally, HSBC set a $169.00 price objective on shares of Chevron and gave the stock a “buy” rating in a research report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $166.00.

Chevron Trading Down 0.1%

Shares of Chevron stock opened at $149.88 on Tuesday. The stock has a market cap of $301.78 billion, a P/E ratio of 21.08, a P/E/G ratio of 8.91 and a beta of 0.68. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The business’s 50 day moving average is $152.66 and its 200-day moving average is $152.28.

Chevron (NYSE:CVX) last released its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The business had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. During the same period last year, the business earned $2.48 earnings per share. The firm’s revenue was down 1.9% on a year-over-year basis. Equities research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were paid a dividend of $1.71 per share. The ex-dividend date was Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.6%. Chevron’s payout ratio is currently 96.20%.

Insider Activity

In related news, Director John B. Hess sold 275,000 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the sale, the director directly owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This trade represents a 19.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.

About Chevron

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.