Northern Trust Corp Has $3.43 Billion Stock Holdings in Chevron Corporation $CVX

Key Points

• Northern Trust Corp has increased its holdings in Chevron to approximately $3.43 billion, with 20.5 million shares owned, making it the 26th largest position in their portfolio.
• Chevron recently reported a quarterly earnings per share of $1.77, exceeding analysts' estimates, but its revenue of $44.82 billion represents a 12.4% decrease compared to the same quarter last year.
• The company announced a quarterly dividend of $1.71, yielding 4.4%, with a payout ratio of 88.03%, scheduled to be paid on September 10th.

Northern Trust Corp lifted its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 0.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,494,881 shares of the oil and gas company's stock after buying an additional 23,081 shares during the period. Chevron comprises 0.5% of Northern Trust Corp's holdings, making the stock its 26th largest position. Northern Trust Corp owned approximately 1.16% of Chevron worth $3,428,589,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. CoreCap Advisors LLC lifted its stake in Chevron by 0.3% in the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock valued at $4,091,000 after purchasing an additional 71 shares during the last quarter. Clayton Financial Group LLC lifted its stake in Chevron by 4.6% in the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock valued at $285,000 after purchasing an additional 75 shares during the last quarter. Gill Capital Partners LLC lifted its stake in Chevron by 4.9% in the 1st quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company's stock valued at $271,000 after purchasing an additional 75 shares during the last quarter. Cordatus Wealth Management LLC lifted its stake in Chevron by 0.4% in the 1st quarter. Cordatus Wealth Management LLC now owns 19,723 shares of the oil and gas company's stock valued at $3,299,000 after purchasing an additional 76 shares during the last quarter. Finally, Requisite Capital Management LLC lifted its stake in Chevron by 1.2% in the 1st quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company's stock valued at $1,064,000 after purchasing an additional 77 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent analyst reports. Scotiabank reiterated a "sector perform" rating and issued a $160.00 target price (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. TD Cowen raised their target price on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research note on Monday, August 4th. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a research report on Tuesday, May 6th. Redburn Atlantic restated a "sell" rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, Barclays restated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $164.11.

Chevron Stock Up 0.9%

Shares of CVX opened at $156.52 on Monday. The firm's 50 day moving average is $150.13 and its 200-day moving average is $148.49. The stock has a market capitalization of $270.46 billion, a PE ratio of 20.14, a P/E/G ratio of 2.35 and a beta of 0.87. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (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 analysts' expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm's quarterly revenue was down 12.4% compared to the same quarter last year. During the same period last year, the firm posted $2.55 earnings per share. Equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is 88.03%.

Chevron Company 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.

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