Northwestern Mutual Wealth Management Co. Buys 5,537,580 Shares of Chevron Corporation $CVX

Key Points

• Northwestern Mutual Wealth Management Co. sharply increased its Chevron stake by 822% in the fourth quarter, buying 5.54 million additional shares and bringing its total holdings to 6.21 million shares worth about $946.7 million.
• Several major institutional investors also boosted their Chevron positions, and 72.42% of the stock is now owned by institutions, highlighting continued broad Wall Street interest in the energy company.
• Chevron reported mixed quarterly results, with EPS beating expectations but revenue falling short; the company also announced a $1.78 quarterly dividend, implying a 3.7% yield.

Northwestern Mutual Wealth Management Co. increased its stake in Chevron Corporation (NYSE:CVX - Free Report) by 822.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,211,258 shares of the oil and gas company's stock after purchasing an additional 5,537,580 shares during the period. Northwestern Mutual Wealth Management Co. owned approximately 0.31% of Chevron worth $946,658,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Chevron by 17.9% in the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company's stock worth $28,540,753,000 after purchasing an additional 27,961,463 shares during the last quarter. State Street Corp grew its position in Chevron by 9.1% during the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company's stock valued at $23,698,184,000 after acquiring an additional 12,789,399 shares during the last quarter. Northern Trust Corp grew its position in Chevron by 15.3% during the third quarter. Northern Trust Corp now owns 22,724,515 shares of the oil and gas company's stock valued at $3,528,890,000 after acquiring an additional 3,007,403 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Chevron by 1.6% in the 3rd quarter. Fisher Asset Management LLC now owns 21,152,060 shares of the oil and gas company's stock valued at $3,284,704,000 after purchasing an additional 325,255 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Chevron by 27.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company's stock valued at $3,047,900,000 after purchasing an additional 4,279,918 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on CVX. Scotiabank lifted their target price on shares of Chevron from $168.00 to $187.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. BMO Capital Markets reiterated an "outperform" rating and issued a $190.00 target price on shares of Chevron in a research report on Monday, February 2nd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $220.00 target price on shares of Chevron in a research report on Tuesday, May 5th. BNP Paribas Exane upgraded shares of Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 target price on the stock in a research report on Friday, April 17th. Finally, JPMorgan Chase & Co. upgraded shares of Chevron from a "neutral" rating to an "overweight" rating and set a $176.00 target price on the stock in a research report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $204.13.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to sell its Singapore refining stake and other Asia-Pacific downstream assets to ENEOS for roughly $2.17 billion, reinforcing its strategy to streamline the portfolio and potentially improve returns. Reuters article on ENEOS buying Chevron assets
• Positive Sentiment: Another report framed Chevron’s recent earnings as less weak than the headline numbers suggested, noting that the company’s share price did not fall sharply after the results, which may indicate investors are focusing on underlying cash generation and strategic actions rather than the revenue miss. Yahoo Finance article on Chevron earnings
• Neutral Sentiment: Market commentary this week also compared Chevron with TotalEnergies and discussed broader oil-sector themes, but those pieces were more about sector positioning than a direct new fundamental change for Chevron. Motley Fool comparison article
• Negative Sentiment: Chevron’s latest quarter was mixed, with earnings per share beating estimates but revenue coming in below expectations, which could temper enthusiasm if investors refocus on operating performance rather than asset sales. Chevron stock background

Insiders Place Their Bets

In related news, insider Andrew Benjamin Walz sold 11,600 shares of Chevron stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $188.58, for a total value of $2,187,528.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John B. Hess sold 195,000 shares of Chevron stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $184.78, for a total transaction of $36,032,100.00. Following the completion of the sale, the director owned 658,045 shares in the company, valued at approximately $121,593,555.10. This trade represents a 22.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 803,570 shares of company stock valued at $151,969,798 over the last quarter. 0.56% of the stock is owned by company insiders.

Chevron Stock Up 2.3%

Shares of Chevron stock opened at $190.91 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. Chevron Corporation has a 52-week low of $133.77 and a 52-week high of $214.71. The stock has a market capitalization of $380.22 billion, a price-to-earnings ratio of 33.09, a P/E/G ratio of 0.64 and a beta of 0.51. The company's 50 day moving average price is $193.14 and its 200-day moving average price is $173.26.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion for the quarter, compared to analysts' expectations of $51.86 billion. During the same quarter last year, the business earned $2.18 earnings per share. The business's revenue was up 2.1% on a year-over-year basis. Equities research analysts forecast that Chevron Corporation will post 15.23 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be issued a $1.78 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. Chevron's dividend payout ratio (DPR) is currently 123.40%.

Chevron Profile

Chevron Corporation NYSE: CVX is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron's core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

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