MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 4,106 Shares of Chevron Co. (NYSE:CVX)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Chevron Co. (NYSE:CVX - Free Report) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 206,564 shares of the oil and gas company's stock after buying an additional 4,106 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Chevron were worth $29,908,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVX. Norges Bank acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $3,017,750,000. Raymond James Financial Inc. bought a new position in Chevron in the 4th quarter valued at approximately $1,036,302,000. Bank of New York Mellon Corp boosted its position in Chevron by 17.3% in the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock valued at $2,389,380,000 after buying an additional 2,432,756 shares in the last quarter. Amundi boosted its position in Chevron by 27.7% in the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock valued at $1,323,549,000 after buying an additional 1,910,262 shares in the last quarter. Finally, Capital World Investors grew its stake in shares of Chevron by 11.4% during the fourth quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock worth $2,039,288,000 after buying an additional 1,440,808 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CVX. Wells Fargo & Company reduced their price objective on Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. DZ Bank downgraded Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a research note on Tuesday, May 6th. Raymond James cut their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research report on Monday, February 3rd. Piper Sandler reduced their target price on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $160.24.

Chevron Trading Down 0.2%

CVX traded down $0.22 during trading on Friday, hitting $142.04. The company's stock had a trading volume of 8,191,570 shares, compared to its average volume of 8,016,751. The firm has a market capitalization of $248.06 billion, a P/E ratio of 14.61, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The stock's fifty day moving average price is $146.89 and its 200-day moving average price is $151.81. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period in the prior year, the firm earned $2.93 earnings per share. Chevron's revenue was down 2.3% on a year-over-year basis. Analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.82%. Chevron's dividend payout ratio is presently 78.17%.

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.