Northwestern Mutual Wealth Management Co. Raises Stake in Chevron Co. (NYSE:CVX)

Northwestern Mutual Wealth Management Co. grew its position in Chevron Co. (NYSE:CVX - Free Report) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 593,645 shares of the oil and gas company's stock after buying an additional 14,836 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Chevron were worth $92,857,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CVX. Berkshire Hathaway Inc lifted its holdings in shares of Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company's stock worth $18,808,081,000 after acquiring an additional 15,845,037 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Chevron by 3.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company's stock worth $2,676,957,000 after acquiring an additional 501,969 shares during the last quarter. Capital World Investors lifted its holdings in shares of Chevron by 3.2% in the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company's stock worth $2,525,380,000 after acquiring an additional 495,879 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Chevron by 4.9% in the 2nd quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company's stock worth $2,122,772,000 after acquiring an additional 629,644 shares during the last quarter. Finally, Capital International Investors lifted its holdings in shares of Chevron by 5.9% in the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company's stock worth $2,116,600,000 after acquiring an additional 743,042 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

Chevron stock traded up $3.50 during midday trading on Friday, hitting $145.49. 8,049,155 shares of the company's stock were exchanged, compared to its average volume of 7,768,011. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a market cap of $268.13 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. The firm's 50 day simple moving average is $146.63 and its 200 day simple moving average is $154.31.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion for the quarter, compared to analysts' expectations of $48.68 billion. During the same period in the previous year, the business posted $3.08 earnings per share. The company's revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts predict that Chevron Co. will post 11.02 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend was Monday, August 19th. Chevron's dividend payout ratio (DPR) is 59.98%.

Analyst Ratings Changes

CVX has been the topic of several recent analyst reports. Royal Bank of Canada decreased their price objective on shares of Chevron from $190.00 to $180.00 and set an "outperform" rating on the stock in a report on Monday, August 5th. Barclays reduced their target price on shares of Chevron from $203.00 to $185.00 and set an "overweight" rating on the stock in a report on Tuesday, August 6th. UBS Group reduced their target price on shares of Chevron from $192.00 to $189.00 and set a "buy" rating on the stock in a report on Wednesday, September 18th. Wells Fargo & Company reduced their target price on shares of Chevron from $196.00 to $169.00 and set an "overweight" rating on the stock in a report on Friday. Finally, Scotiabank reduced their target price on shares of Chevron from $195.00 to $180.00 and set a "sector outperform" rating on the stock in a report on Friday, July 12th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $180.24.

About Chevron

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.