Chevron Corporation (NYSE:CVX) Shares Purchased by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board has increased its stake in Chevron Corporation by 3.1%, acquiring an additional 13,243 shares, bringing its total ownership to 446,893 shares valued at approximately $74.76 million.
• Chevron recently reported quarterly earnings of $1.77 per share, exceeding analysts' estimates and generating a revenue of $44.82 billion, which is a 12.4% decline compared to the previous year.
• Chevron's annualized dividend is set at $6.84 with a yield of 4.4%, and the upcoming dividend payout is scheduled for September 10th.

Public Sector Pension Investment Board increased its stake in Chevron Corporation (NYSE:CVX - Free Report) by 3.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 446,893 shares of the oil and gas company's stock after buying an additional 13,243 shares during the period. Public Sector Pension Investment Board's holdings in Chevron were worth $74,761,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CVX. Harvest Fund Management Co. Ltd boosted its holdings in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock valued at $25,000 after buying an additional 122 shares in the last quarter. 10Elms LLP bought a new stake in shares of Chevron in the 4th quarter valued at about $29,000. IFS Advisors LLC boosted its holdings in shares of Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after buying an additional 116 shares in the last quarter. Navigoe LLC bought a new stake in shares of Chevron in the 4th quarter valued at about $33,000. Finally, Cloud Capital Management LLC bought a new stake in shares of Chevron in the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

Shares of NYSE:CVX traded up $0.93 during trading on Tuesday, hitting $154.38. 6,641,283 shares of the stock traded hands, compared to its average volume of 12,062,080. The company has a fifty day moving average price of $149.07 and a two-hundred day moving average price of $148.55. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a market cap of $266.77 billion, a price-to-earnings ratio of 19.87, a P/E/G ratio of 2.30 and a beta of 0.87. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion for the quarter, compared to analysts' expectations of $44.59 billion. During the same quarter last year, the company earned $2.55 EPS. The firm's revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, equities analysts predict that Chevron Corporation 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 Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron's payout ratio is 88.03%.

Analyst Ratings Changes

Several equities analysts recently commented on CVX shares. Scotiabank reaffirmed a "sector perform" rating and issued a $160.00 price objective (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Piper Sandler reaffirmed an "overweight" rating on shares of Chevron in a research report on Tuesday, July 15th. Raymond James Financial reaffirmed an "outperform" rating on shares of Chevron in a research report on Friday, August 1st. Finally, UBS Group reissued a "buy" rating and set a $186.00 price target (up from $177.00) on shares of Chevron in a research report on Monday, August 4th. Three analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $164.11.

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.