Chevron Corp. (CVX) Stake Boosted by Northwestern Mutual Wealth Management Co.
Northwestern Mutual Wealth Management Co. increased its position in Chevron Corp. (NYSE:CVX) by 16.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 191,972 shares of the company’s stock after buying an additional 26,897 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Chevron Corp. were worth $20,125,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in CVX. Thompson Davis & CO. Inc. increased its stake in Chevron Corp. by 322.6% in the second quarter. Thompson Davis & CO. Inc. now owns 955 shares of the company’s stock worth $100,000 after buying an additional 729 shares during the period. RPg Family Wealth Advisory LLC increased its stake in Chevron Corp. by 14.5% in the first quarter. RPg Family Wealth Advisory LLC now owns 1,058 shares of the company’s stock worth $101,000 after buying an additional 134 shares during the last quarter. Global X Management Co. LLC increased its stake in Chevron Corp. by 115.6% in the second quarter. Global X Management Co. LLC now owns 1,158 shares of the company’s stock worth $121,000 after buying an additional 621 shares during the last quarter. Camarda Financial Advisors LLC acquired a new stake in Chevron Corp. during the second quarter worth approximately $122,000. Finally, Wealthcare Capital Management LLC acquired a new stake in Chevron Corp. during the second quarter worth approximately $128,000. Institutional investors own 62.28% of the company’s stock.
Shares of Chevron Corp. (NYSE:CVX) traded up 1.00% during midday trading on Friday, reaching $109.20. 6,815,483 shares of the company’s stock traded hands. The stock has a 50 day moving average of $102.85 and a 200-day moving average of $102.23. Chevron Corp. has a 52-week low of $75.33 and a 52-week high of $109.67. The stock’s market cap is $206.14 billion.
Chevron Corp. (NYSE:CVX) last released its earnings results on Friday, October 28th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.29. Chevron Corp. had a negative net margin of 1.34% and a positive return on equity of 0.59%. The business earned $30.14 billion during the quarter, compared to analysts’ expectations of $29.71 billion. During the same period last year, the business earned $1.09 earnings per share. The firm’s revenue was down 12.2% on a year-over-year basis. On average, equities research analysts expect that Chevron Corp. will post $1.33 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Friday, November 18th will be paid a $1.08 dividend. The ex-dividend date is Wednesday, November 16th. This is a boost from Chevron Corp.’s previous quarterly dividend of $1.07. This represents a $4.32 annualized dividend and a dividend yield of 3.96%. Chevron Corp.’s dividend payout ratio (DPR) is currently -540.00%.
CVX has been the topic of a number of research reports. Credit Suisse Group AG reiterated a “neutral” rating on shares of Chevron Corp. in a report on Tuesday, September 6th. Jefferies Group reiterated a “buy” rating on shares of Chevron Corp. in a report on Thursday, September 8th. BMO Capital Markets initiated coverage on shares of Chevron Corp. in a report on Monday, September 12th. They issued an “outperform” rating and a $120.00 target price on the stock. Barclays PLC reiterated an “equal weight” rating and issued a $125.00 target price on shares of Chevron Corp. in a report on Thursday, July 28th. Finally, Piper Jaffray Cos. upgraded shares of Chevron Corp. from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $110.00 to $117.00 in a report on Tuesday, August 9th. Eleven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $108.61.
In related news, insider Pierre R. Breber sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $110.00, for a total value of $1,100,000.00. Following the completion of the transaction, the insider now directly owns 28,911 shares of the company’s stock, valued at $3,180,210. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Linnet F. Deily sold 5,637 shares of the firm’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $105.27, for a total transaction of $593,406.99. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.
About Chevron Corp.
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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