Northwestern Mutual Wealth Management Co. Buys 37,252 Shares of Chevron Corporation $CVX

Northwestern Mutual Wealth Management Co. increased its stake in shares of Chevron Corporation (NYSE:CVX) by 6.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 637,058 shares of the oil and gas company’s stock after acquiring an additional 37,252 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Chevron were worth $106,573,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CVX. Eagle Capital Management LLC lifted its position in Chevron by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock valued at $5,011,000 after purchasing an additional 242 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in Chevron by 7.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock valued at $5,212,000 after purchasing an additional 2,641 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its position in Chevron by 54.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 261,860 shares of the oil and gas company’s stock valued at $37,928,000 after purchasing an additional 92,294 shares during the last quarter. Nebula Research & Development LLC raised its stake in shares of Chevron by 127.8% in the fourth quarter. Nebula Research & Development LLC now owns 9,208 shares of the oil and gas company’s stock valued at $1,334,000 after acquiring an additional 5,165 shares during the period. Finally, Voya Financial Advisors Inc. raised its stake in shares of Chevron by 2.8% in the fourth quarter. Voya Financial Advisors Inc. now owns 4,841 shares of the oil and gas company’s stock valued at $693,000 after acquiring an additional 134 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 1.5%

CVX stock opened at $157.8970 on Friday. The company has a market capitalization of $272.84 billion, a PE ratio of 20.32, a P/E/G ratio of 2.31 and a beta of 0.87. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The firm’s 50-day moving average is $151.21 and its 200 day moving average is $148.66. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.55 EPS. On average, research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. Chevron’s dividend payout ratio (DPR) is 88.03%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CVX. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a research note on Tuesday, May 6th. Mizuho reduced their target price on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Barclays reissued an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Piper Sandler increased their target price on shares of Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $163.95.

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; 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.