Northwest Bancshares Inc. decreased its position in shares of Chevron Co. (NYSE:CVX) by 3.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,097 shares of the oil and gas company’s stock after selling 394 shares during the quarter. Northwest Bancshares Inc.’s holdings in Chevron were worth $1,316,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Murphy Middleton Hinkle & Parker Inc. raised its position in Chevron by 0.6% in the second quarter. Murphy Middleton Hinkle & Parker Inc. now owns 14,149 shares of the oil and gas company’s stock worth $1,761,000 after acquiring an additional 84 shares in the last quarter. Arlington Financial Advisors LLC raised its position in Chevron by 0.4% in the second quarter. Arlington Financial Advisors LLC now owns 20,221 shares of the oil and gas company’s stock worth $2,516,000 after acquiring an additional 85 shares in the last quarter. Landsberg Bennett & Dubbaneh LLC raised its position in Chevron by 1.7% in the second quarter. Landsberg Bennett & Dubbaneh LLC now owns 5,051 shares of the oil and gas company’s stock worth $631,000 after acquiring an additional 86 shares in the last quarter. JNBA Financial Advisors raised its position in Chevron by 1.6% in the second quarter. JNBA Financial Advisors now owns 5,604 shares of the oil and gas company’s stock worth $697,000 after acquiring an additional 86 shares in the last quarter. Finally, Gilbert & Cook Inc. raised its position in Chevron by 3.4% in the second quarter. Gilbert & Cook Inc. now owns 2,745 shares of the oil and gas company’s stock worth $342,000 after acquiring an additional 90 shares in the last quarter. 65.61% of the stock is owned by institutional investors.

CVX traded up $1.73 during trading on Wednesday, reaching $113.44. The company had a trading volume of 275,608 shares, compared to its average volume of 6,611,805. The firm’s 50-day simple moving average is $118.60 and its 200 day simple moving average is $120.88. The company has a market cap of $216.13 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 4.20 and a beta of 0.99. Chevron Co. has a 12-month low of $100.22 and a 12-month high of $127.60. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 1.15.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.53. The firm had revenue of $38.85 billion for the quarter, compared to analysts’ expectations of $40.14 billion. Chevron had a return on equity of 9.58% and a net margin of 9.18%. Chevron’s revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the business posted $1.78 EPS. On average, sell-side analysts expect that Chevron Co. will post 6.78 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a $1.19 dividend. The ex-dividend date was Friday, August 16th. This represents a $4.76 dividend on an annualized basis and a yield of 4.20%. Chevron’s dividend payout ratio is currently 57.70%.

In other Chevron news, insider Joseph C. Geagea sold 8,000 shares of Chevron stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $122.50, for a total transaction of $980,000.00. Following the transaction, the insider now owns 9,243 shares of the company’s stock, valued at approximately $1,132,267.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Debra L. Reed bought 4,250 shares of the stock in a transaction on Wednesday, August 7th. The shares were acquired at an average cost of $118.14 per share, for a total transaction of $502,095.00. The disclosure for this purchase can be found here. Insiders sold a total of 86,750 shares of company stock worth $10,648,200 in the last three months. 0.31% of the stock is currently owned by company insiders.

Several brokerages have commented on CVX. BMO Capital Markets began coverage on shares of Chevron in a research report on Tuesday, August 20th. They issued an “outperform” rating and a $165.00 price target on the stock. ValuEngine upgraded shares of Chevron from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Independent Research set a $127.00 price target on shares of Chevron and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Barclays began coverage on shares of Chevron in a research report on Monday, August 19th. They issued an “overweight” rating and a $145.00 price target on the stock. Finally, Cowen set a $140.00 price target on shares of Chevron and gave the stock a “buy” rating in a research report on Friday, August 30th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Chevron has a consensus rating of “Buy” and an average price target of $137.47.

About Chevron

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

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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