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

Northern Trust Corp grew its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,471,800 shares of the oil and gas company's stock after purchasing an additional 1,394,091 shares during the period. Northern Trust Corp owned about 1.14% of Chevron worth $2,965,135,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Allianz SE bought a new stake in shares of Chevron in the 4th quarter valued at about $9,369,000. Nicholas Company Inc. lifted its stake in shares of Chevron by 4.3% in the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock valued at $11,591,000 after acquiring an additional 3,280 shares during the last quarter. Applied Finance Capital Management LLC lifted its stake in shares of Chevron by 1.6% in the 4th quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company's stock valued at $26,044,000 after acquiring an additional 2,755 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Chevron by 4.5% in the 4th quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company's stock valued at $174,817,000 after acquiring an additional 52,307 shares during the last quarter. Finally, Dale Q Rice Investment Management Ltd bought a new stake in shares of Chevron in the 4th quarter valued at about $594,000. Institutional investors own 72.42% of the company's stock.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction dated 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 owns 1,057 shares of the company's stock, valued at $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CVX shares. Raymond James lowered their target price on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. Scotiabank lowered Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the company from $160.00 to $143.00 in a research note on Friday, April 11th. UBS Group reduced their price target on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Truist Financial reduced their price target on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a report on Tuesday, February 4th. Finally, BNP Paribas downgraded Chevron to a "cautious" rating in a report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $165.71.

Chevron Stock Down 0.3 %

CVX stock opened at $138.69 on Monday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $151.70 and a 200 day moving average of $152.99. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The firm has a market cap of $244.18 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the previous year, the business posted $3.45 earnings per share. On average, research analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.93%. This is a positive change from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio is presently 70.37%.

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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