Mirae Asset Global Investments Co. Ltd. Increases Holdings in Chevron Co. (NYSE:CVX)

Mirae Asset Global Investments Co. Ltd. boosted its position in Chevron Co. (NYSE:CVX) by 15.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 692,344 shares of the oil and gas company’s stock after buying an additional 92,831 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Chevron were worth $99,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Virginia Wealth Management Group Inc. grew its holdings in shares of Chevron by 1.4% in the fourth quarter. Virginia Wealth Management Group Inc. now owns 23,716 shares of the oil and gas company’s stock worth $3,435,000 after purchasing an additional 337 shares during the last quarter. Jericho Financial LLP bought a new stake in Chevron in the 4th quarter worth $4,027,000. Berkshire Money Management Inc. bought a new stake in Chevron in the 4th quarter worth $259,000. Y.D. More Investments Ltd increased its position in shares of Chevron by 3.9% in the fourth quarter. Y.D. More Investments Ltd now owns 19,818 shares of the oil and gas company’s stock valued at $2,868,000 after acquiring an additional 747 shares during the period. Finally, Weaver Capital Management LLC bought a new position in shares of Chevron during the fourth quarter valued at about $201,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of Chevron stock opened at $153.14 on Wednesday. The stock has a market cap of $275.20 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 1.29 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm’s 50-day moving average is $152.97 and its 200 day moving average is $150.93.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the company posted $3.45 EPS. Sell-side analysts anticipate that Chevron Co. will post 11.45 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio is presently 67.08%.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday. Truist Financial decreased their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday. Wells Fargo & Company cut their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Bank of America started coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average target price of $174.33.

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.