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

Park National Corp OH cut its holdings in Chevron Co. (NYSE:CVX) by 4.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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.

Several other institutional investors have also added to or reduced their stakes in CVX. Norges Bank bought a new position in Chevron during the fourth quarter valued at approximately $3,017,750,000. Raymond James Financial Inc. purchased a new stake in Chevron during the 4th quarter valued at $1,036,302,000. Bank of New York Mellon Corp lifted its stake in shares of Chevron by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after purchasing an additional 2,432,756 shares during the period. Amundi lifted its position in shares of Chevron by 27.7% during the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock valued at $1,323,549,000 after buying an additional 1,910,262 shares in the last quarter. Finally, Capital World Investors grew its stake in shares of Chevron by 11.4% during the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company’s stock valued at $2,039,288,000 after acquiring an additional 1,440,808 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CVX shares. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and decreased their target price for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Truist Financial decreased their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a report on Tuesday, May 6th. BNP Paribas cut Chevron to a “cautious” rating in a report on Tuesday, April 15th. Finally, Hsbc Global Res downgraded Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Chevron has a consensus rating of “Hold” and a consensus price target of $160.24.

Chevron Trading Down 1.3%

CVX stock opened at $136.05 on Thursday. The firm’s fifty day simple moving average is $143.01 and its two-hundred day simple moving average is $150.83. The stock has a market capitalization of $237.60 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth 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 Co. has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.93 earnings per share. As a group, analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s dividend payout ratio is currently 78.17%.

Chevron Company 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.