Railway Pension Investments Ltd Invests $57.42 Million in Chevron Co. (NYSE:CVX)

Railway Pension Investments Ltd acquired a new stake in Chevron Co. (NYSE:CVX) in the second quarter, Holdings Channel reports. The firm acquired 367,100 shares of the oil and gas company’s stock, valued at approximately $57,422,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Signature Estate & Investment Advisors LLC boosted its stake in shares of Chevron by 2.1% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 341,727 shares of the oil and gas company’s stock valued at $53,453,000 after purchasing an additional 6,949 shares during the last quarter. First Command Advisory Services Inc. lifted its holdings in Chevron by 0.3% in the second quarter. First Command Advisory Services Inc. now owns 23,121 shares of the oil and gas company’s stock valued at $3,617,000 after buying an additional 74 shares during the period. Callan Family Office LLC boosted its position in Chevron by 155.6% during the second quarter. Callan Family Office LLC now owns 5,715 shares of the oil and gas company’s stock valued at $894,000 after acquiring an additional 3,479 shares during the last quarter. Pegasus Asset Management Inc. grew its holdings in Chevron by 0.9% during the 2nd quarter. Pegasus Asset Management Inc. now owns 28,660 shares of the oil and gas company’s stock worth $4,483,000 after acquiring an additional 259 shares during the period. Finally, Bailard Inc. raised its position in shares of Chevron by 11.5% in the 2nd quarter. Bailard Inc. now owns 84,117 shares of the oil and gas company’s stock worth $13,158,000 after acquiring an additional 8,708 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CVX shares. HSBC raised their target price on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Scotiabank cut their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Mizuho lifted their price target on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, TD Cowen boosted their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $183.82.

Chevron Stock Performance

Shares of NYSE:CVX traded down $0.65 during mid-day trading on Tuesday, reaching $147.85. The company had a trading volume of 1,156,401 shares, compared to its average volume of 7,760,812. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $152.88 and its 200-day moving average price is $155.79. The firm has a market cap of $272.48 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 2.46 and a beta of 1.10.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.08 EPS. As a group, equities research analysts anticipate that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

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.