Northwest Investment Counselors LLC Has $299,000 Stock Position in Chevron Co. (NYSE:CVX)

Northwest Investment Counselors LLC grew its stake in shares of Chevron Co. (NYSE:CVX) by 35.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,898 shares of the oil and gas company’s stock after purchasing an additional 500 shares during the quarter. Northwest Investment Counselors LLC’s holdings in Chevron were worth $299,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cantor Fitzgerald Investment Advisor L.P increased its holdings in shares of Chevron by 85.1% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock worth $25,908,000 after acquiring an additional 73,141 shares during the last quarter. Axiom Financial Strategies LLC increased its holdings in shares of Chevron by 25.2% during the 1st quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after acquiring an additional 1,476 shares during the last quarter. GQG Partners LLC increased its holdings in shares of Chevron by 4.7% during the 1st quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after acquiring an additional 1,813 shares during the last quarter. Lumature Wealth Partners LLC increased its holdings in shares of Chevron by 43.5% during the 1st quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after acquiring an additional 1,770 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Chevron by 13.8% in the 1st quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock valued at $336,830,000 after purchasing an additional 250,840 shares during the period. Institutional investors and hedge funds own 68.87% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. HSBC boosted their price target on Chevron from $180.00 to $184.00 in a research note on Wednesday, August 9th. Royal Bank of Canada upgraded Chevron from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $165.00 to $180.00 in a research note on Thursday, June 1st. Citigroup reduced their price target on Chevron from $180.00 to $170.00 in a research note on Tuesday, July 11th. UBS Group boosted their price target on Chevron from $202.00 to $209.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. Finally, JPMorgan Chase & Co. upgraded Chevron from an “underweight” rating to a “neutral” rating and upped their target price for the company from $161.00 to $170.00 in a research report on Wednesday, May 31st. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.61.

Chevron Trading Up 0.4 %

Shares of CVX stock opened at $167.22 on Tuesday. The stock has a market cap of $312.24 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 0.88 and a beta of 1.18. The stock has a 50-day moving average of $160.80 and a 200-day moving average of $160.15. The company has a current ratio of 1.43, a quick ratio of 1.13 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $140.46 and a 1-year high of $189.68.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, July 28th. The oil and gas company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.13. The company had revenue of $48.90 billion during the quarter, compared to analysts’ expectations of $48 billion. Chevron had a return on equity of 19.48% and a net margin of 13.54%. The business’s quarterly revenue was down 28.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.82 earnings per share. On average, equities research analysts forecast that Chevron Co. will post 13.23 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 18th were paid a $1.51 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $6.04 annualized dividend and a dividend yield of 3.61%. Chevron’s payout ratio is 38.30%.

Insider Activity

In related news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total transaction of $603,300.00. Following the sale, the vice president now owns 1,718 shares in the company, valued at approximately $276,391.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Pierre R. Breber sold 25,000 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the sale, the chief financial officer now owns 6,021 shares in the company, valued at approximately $987,444. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $160.88, for a total value of $603,300.00. Following the sale, the vice president now owns 1,718 shares in the company, valued at approximately $276,391.84. The disclosure for this sale can be found here. Insiders own 0.18% 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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.