Chevron Corporation $CVX Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Chevron Corporation by 8.4%, owning 223,844 shares worth approximately $37.4 million as reported in their recent SEC filing.
• Certain hedge funds, including GDS Wealth Management and AIMZ Investment Advisors LLC, also increased their stakes in Chevron during the 1st quarter, highlighting a strong interest from institutional investors, who collectively own 72.42% of the company's stock.
• Chevron announced a quarterly dividend of $1.71 per share, representing a yield of 4.4%, with a payout ratio of 88.03%, indicating a commitment to return capital to its shareholders.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Chevron Corporation (NYSE:CVX - Free Report) by 8.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 223,844 shares of the oil and gas company's stock after purchasing an additional 17,280 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Chevron were worth $37,436,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. GQG Partners LLC purchased a new stake in Chevron in the 1st quarter valued at $1,466,751,000. Nuveen LLC purchased a new position in Chevron during the 1st quarter worth $1,362,232,000. GAMMA Investing LLC lifted its stake in shares of Chevron by 21,191.5% in the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock worth $904,746,000 after acquiring an additional 5,382,847 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chevron by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock valued at $5,592,263,000 after acquiring an additional 1,574,464 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Chevron by 141.2% during the first quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company's stock worth $316,483,000 after acquiring an additional 1,107,628 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insider Activity

In other news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John B. Hess sold 375,000 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent analyst reports. Barclays restated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Evercore ISI restated an "outperform" rating and issued a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. TD Cowen increased their price objective on Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research report on Monday, August 4th. Scotiabank reaffirmed a "sector perform" rating and set a $160.00 price target (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Chevron in a report on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $163.95.

Chevron Price Performance

Shares of CVX traded up $0.64 during mid-day trading on Tuesday, reaching $154.64. 7,739,369 shares of the company's stock were exchanged, compared to its average volume of 9,290,082. 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 Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a market cap of $267.22 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 2.28 and a beta of 0.90. The company has a 50-day simple moving average of $153.91 and a two-hundred day simple moving average of $148.78.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion for the quarter, compared to analysts' expectations of $44.59 billion. During the same quarter in the prior year, the firm earned $2.55 EPS. Chevron's quarterly revenue was down 12.4% on a year-over-year basis. On average, sell-side analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Tuesday, August 19th. Chevron's dividend payout ratio is 88.03%.

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.