Northcape Wealth Management Acquires Chevron Stock Amid Strong Earnings Report
Northcape Wealth Management LLC acquired a new position in Chevron Corporation (NYSE:CVX) during the second quarter, purchasing 4,981 shares valued at approximately $826,000, according to its recent 13F filing with the Securities & Exchange Commission.
This is not the only institutional investor to acquire Chevron stock recently. Midwest Capital Advisors LLC bought a new stake in shares of Chevron in the first quarter worth around $25,000, and Core Wealth Advisors LLC, Phillip James Consulting Co., Basso Capital Management L.P., and Karpus Management Inc. all purchased new positions in the fourth quarter.
Institutional investors own approximately 72.42% of Chevron's stock. The company has a strong quarterly earnings report from July 31st, with EPS beating expectations by $0.51, and revenue increasing 57.4% compared to last year.
Analysts forecast that Chevron Corporation will post $15.86 earnings per share for the current fiscal year. The business also recently declared a quarterly dividend of $1.78 per share, paid on September 10th, representing a $7.12 annualized payout and an approximately 3.5% yield.