Mirae Asset Global Investments Co. Ltd. Purchases 153,837 Shares of Chevron Co. (NYSE:CVX)

Mirae Asset Global Investments Co. Ltd. lifted its position in Chevron Co. (NYSE:CVX) by 31.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 638,598 shares of the oil and gas company’s stock after acquiring an additional 153,837 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Chevron were worth $99,986,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Pacifica Partners Inc. lifted its holdings in shares of Chevron by 1.8% during the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after buying an additional 63 shares during the period. Private Wealth Management Group LLC lifted its holdings in shares of Chevron by 15.7% during the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after buying an additional 63 shares during the period. Ellenbecker Investment Group lifted its holdings in shares of Chevron by 1.5% during the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after buying an additional 65 shares during the period. Mayfair Advisory Group LLC lifted its holdings in shares of Chevron by 0.7% during the 1st quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock valued at $1,484,000 after buying an additional 65 shares during the period. Finally, Penbrook Management LLC lifted its holdings in shares of Chevron by 3.9% during the 1st quarter. Penbrook Management LLC now owns 1,730 shares of the oil and gas company’s stock valued at $273,000 after buying an additional 65 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the transaction, the vice president now owns 477 shares in the company, valued at $76,429.71. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the transaction, the vice president now owns 477 shares in the company, valued at $76,429.71. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the transaction, the director now owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,746 shares of company stock worth $2,727,971. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on CVX shares. Piper Sandler raised their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Truist Financial raised their target price on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a report on Friday, May 10th. Barclays started coverage on Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price on the stock. Mizuho raised their target price on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Finally, TD Cowen raised their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.95.

Chevron Price Performance

Shares of Chevron stock traded down $2.40 during trading on Friday, reaching $154.31. 6,183,056 shares of the stock traded hands, compared to its average volume of 6,945,543. The company has a market capitalization of $284.39 billion, a price-to-earnings ratio of 14.20, a P/E/G ratio of 2.38 and a beta of 1.10. The business has a fifty day simple moving average of $158.45 and a two-hundred day simple moving average of $154.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.55 earnings per share. Sell-side analysts expect that Chevron Co. will post 13.15 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were given a $1.63 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.23%. Chevron’s dividend payout ratio is currently 59.98%.

About Chevron

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.