Northwestern Mutual Wealth Management Co. Grows Stock Holdings in Chevron Corporation $CVX

Key Points

• Northwestern Mutual Wealth Management Co. has increased its stake in Chevron Corporation (CVX) by 6.2%, owning 637,058 shares valued at approximately $106.57 million.
• Chevron reported earnings of $1.77 per share for the last quarter, surpassing analysts' estimates of $1.58, despite revenue declining by 12.4% year-over-year.
• The company has announced a quarterly dividend of $1.71 per share, yielding 4.3%, with a dividend payout ratio of 88.03%.

Northwestern Mutual Wealth Management Co. increased its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 6.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 637,058 shares of the oil and gas company's stock after purchasing an additional 37,252 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Chevron were worth $106,573,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CVX. Harvest Fund Management Co. Ltd raised its holdings in shares of Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 122 shares during the last quarter. 10Elms LLP purchased a new position in shares of Chevron during the fourth quarter valued at approximately $29,000. Elequin Capital LP purchased a new position in shares of Chevron during the first quarter valued at approximately $31,000. Navigoe LLC purchased a new position in shares of Chevron during the fourth quarter valued at approximately $33,000. Finally, IFS Advisors LLC raised its holdings in shares of Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 116 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of NYSE CVX opened at $157.8970 on Friday. The firm has a fifty day moving average price of $151.21 and a 200-day moving average price of $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. The stock has a market cap of $272.84 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 2.31 and a beta of 0.87. Chevron Corporation has a 1 year low of $132.04 and a 1 year 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, topping analysts' consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. During the same period in the prior year, the company posted $2.55 earnings per share. The company's revenue for the quarter was down 12.4% compared to the same quarter last year. Equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Wall Street Analysts Forecast Growth

CVX has been the subject of several research reports. DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a report on Tuesday, May 6th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $178.00 target price on shares of Chevron in a report on Friday, August 1st. UBS Group upped their target price on shares of Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a report on Wednesday. Jefferies Financial Group reaffirmed a "buy" rating on shares of Chevron in a report on Friday, July 18th. Finally, Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $163.95.

Chevron 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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