Mirae Asset Global Investments Co. Ltd. Acquires 16,010 Shares of Chevron Co. (NYSE:CVX)

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Chevron Co. (NYSE:CVX) by 3.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 484,761 shares of the oil and gas company’s stock after purchasing an additional 16,010 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Chevron were worth $72,453,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CVX. DekaBank Deutsche Girozentrale increased its position in shares of Chevron by 47.2% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,954,762 shares of the oil and gas company’s stock worth $293,336,000 after buying an additional 626,909 shares during the period. Smith Salley & Associates grew its holdings in Chevron by 1.0% in the fourth quarter. Smith Salley & Associates now owns 173,016 shares of the oil and gas company’s stock worth $25,807,000 after purchasing an additional 1,649 shares during the period. Tritonpoint Wealth LLC acquired a new stake in Chevron in the fourth quarter worth $7,070,000. Stratos Wealth Partners LTD. grew its holdings in Chevron by 6.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 71,416 shares of the oil and gas company’s stock worth $10,652,000 after purchasing an additional 4,341 shares during the period. Finally, Stratos Wealth Advisors LLC grew its holdings in Chevron by 3.3% in the fourth quarter. Stratos Wealth Advisors LLC now owns 40,982 shares of the oil and gas company’s stock worth $6,113,000 after purchasing an additional 1,322 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

CVX has been the subject of a number of research reports. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a report on Tuesday, February 6th. Truist Financial dropped their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research note on Friday. TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research note on Monday, January 8th. Finally, Royal Bank of Canada raised their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $180.63.

Chevron Stock Performance

Shares of CVX stock opened at $161.60 on Monday. The firm has a market cap of $300.13 billion, a price-to-earnings ratio of 14.23, a P/E/G ratio of 2.46 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $172.88. The firm’s 50-day simple moving average is $153.72 and its two-hundred day simple moving average is $152.24.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.26. The firm had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company’s revenue was down 16.5% on a year-over-year basis. During the same quarter last year, the company earned $4.09 earnings per share. As a group, equities analysts forecast that Chevron Co. will post 13.13 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.03%. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. Chevron’s payout ratio is presently 57.39%.

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.