Chevron Co. (NYSE:CVX) Shares Sold by Northwest Bancshares Inc.

Northwest Bancshares Inc. cut its position in Chevron Co. (NYSE:CVX - Free Report) by 12.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,930 shares of the oil and gas company's stock after selling 5,557 shares during the quarter. Chevron accounts for about 1.0% of Northwest Bancshares Inc.'s holdings, making the stock its 27th biggest holding. Northwest Bancshares Inc.'s holdings in Chevron were worth $5,733,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CVX. Rational Advisors LLC purchased a new position in shares of Chevron during the third quarter valued at approximately $29,000. Anfield Capital Management LLC raised its stake in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company's stock valued at $34,000 after buying an additional 118 shares during the period. Cyrus J. Lawrence LLC raised its stake in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company's stock valued at $39,000 after buying an additional 100 shares during the period. Livelsberger Financial Advisory bought a new stake in shares of Chevron during the 3rd quarter valued at $47,000. Finally, Krane Funds Advisors LLC bought a new stake in shares of Chevron during the 3rd quarter valued at $47,000. 72.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares of the company's stock, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Up 0.5 %

Shares of NYSE CVX traded up $0.85 during midday trading on Wednesday, reaching $160.45. 2,263,727 shares of the company's stock traded hands, compared to its average volume of 7,633,293. The company has a market cap of $288.34 billion, a price-to-earnings ratio of 17.62, a P/E/G ratio of 3.63 and a beta of 1.09. The stock's 50 day simple moving average is $150.23 and its 200-day simple moving average is $152.57. 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 one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts' consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same period in the previous year, the company earned $3.05 earnings per share. The business's quarterly revenue was down 6.3% compared to the same quarter last year. On average, analysts predict that Chevron Co. will post 10.55 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.06%. Chevron's payout ratio is currently 71.65%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CVX shares. DZ Bank upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. Barclays increased their price target on shares of Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Mizuho lowered their price objective on shares of Chevron from $205.00 to $189.00 and set an "outperform" rating for the company in a report on Monday, September 16th. Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a "buy" rating and a $168.00 target price on the stock. Finally, Royal Bank of Canada upped their price target on shares of Chevron from $170.00 to $175.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Chevron currently has an average rating of "Moderate Buy" and an average target price of $174.93.

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.