Northern Trust Corp Acquires 1,394,091 Shares of Chevron Co. (NYSE:CVX)

Northern Trust Corp lifted its holdings in Chevron Co. (NYSE:CVX - Free Report) by 7.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,471,800 shares of the oil and gas company's stock after acquiring an additional 1,394,091 shares during the quarter. Northern Trust Corp owned approximately 1.14% of Chevron worth $2,965,135,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Life Planning Partners Inc acquired a new position in shares of Chevron in the 4th quarter valued at $25,000. IMG Wealth Management Inc. acquired a new position in Chevron in the fourth quarter valued at about $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron during the fourth quarter worth about $29,000. Fairway Wealth LLC grew its position in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after buying an additional 88 shares during the period. Finally, New Wave Wealth Advisors LLC bought a new stake in shares of Chevron in the 4th quarter valued at about $39,000. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CVX has been the subject of a number of analyst reports. Raymond James decreased their price objective on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Scotiabank cut Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Truist Financial decreased their price objective on Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research report on Tuesday, February 4th. Wells Fargo & Company reduced their price target on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Finally, BNP Paribas cut shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Chevron currently has a consensus rating of "Hold" and a consensus price target of $165.27.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by company insiders.

Chevron Stock Up 1.4 %

CVX traded up $1.87 during trading on Friday, reaching $138.13. 9,213,213 shares of the stock were exchanged, compared to its average volume of 8,977,626. The stock has a market cap of $243.18 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock's 50 day moving average price is $150.11 and its two-hundred day moving average price is $152.59. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. Chevron's revenue was down 2.3% on a year-over-year basis. During the same period last year, the business posted $2.93 EPS. Equities analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.95%. Chevron's payout ratio is presently 70.37%.

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.