Huntington National Bank Decreases Stock Holdings in Chevron Co. (NYSE:CVX)

Huntington National Bank cut its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 491,460 shares of the oil and gas company's stock after selling 2,388 shares during the period. Huntington National Bank's holdings in Chevron were worth $71,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Allianz SE acquired a new stake in Chevron in the 4th quarter valued at $9,369,000. State Street Corp grew its holdings in shares of Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company's stock valued at $23,431,429,000 after acquiring an additional 874,962 shares in the last quarter. Nicholas Company Inc. grew its holdings in shares of Chevron by 4.3% in the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock valued at $11,591,000 after acquiring an additional 3,280 shares in the last quarter. Dale Q Rice Investment Management Ltd acquired a new stake in shares of Chevron in the fourth quarter valued at about $594,000. Finally, Unified Investment Management bought a new stake in Chevron during the fourth quarter worth about $729,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by company insiders.

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Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. UBS Group decreased their price target on Chevron from $195.00 to $194.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company lowered their target price on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Barclays cut their price target on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a research note on Wednesday, February 5th. Royal Bank of Canada reissued an "outperform" rating and issued a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Finally, Raymond James dropped their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $174.13.

Chevron Trading Down 6.3 %

Shares of CVX stock traded down $10.50 on Thursday, hitting $155.98. The company had a trading volume of 15,490,733 shares, compared to its average volume of 7,651,508. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market cap of $274.61 billion, a P/E ratio of 16.05, a P/E/G ratio of 1.46 and a beta of 1.08. The stock's 50-day moving average is $157.63 and its two-hundred day moving average is $154.08.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the business posted $3.45 earnings per share. On average, equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.39%. This is a positive change from Chevron's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron's payout ratio is presently 70.37%.

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.