Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Chevron Co. (NYSE:CVX – Free Report) by 14.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 439,464 shares of the oil and gas company’s stock after buying an additional 56,192 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Chevron were worth $69,130,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Chevron by 100,509.4% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 426,861,553 shares of the oil and gas company’s stock valued at $67,166,665,000 after buying an additional 426,437,277 shares during the period. Morgan Stanley grew its stake in Chevron by 12.7% in the fourth quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after purchasing an additional 3,711,923 shares during the period. Moneta Group Investment Advisors LLC grew its stake in shares of Chevron by 104,997.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after acquiring an additional 24,467,521 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Chevron by 0.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 23,867,243 shares of the oil and gas company’s stock worth $3,732,044,000 after acquiring an additional 199,759 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Chevron in the fourth quarter worth $3,058,235,000. Hedge funds and other institutional investors own 68.87% of the company’s stock.
Chevron Trading Up 1.9 %
Shares of NYSE:CVX opened at $144.46 on Friday. Chevron Co. has a 12-month low of $140.74 and a 12-month high of $187.81. The business’s fifty day simple moving average is $158.68 and its 200-day simple moving average is $158.22. The company has a market capitalization of $272.70 billion, a PE ratio of 10.72, a P/E/G ratio of 0.73 and a beta of 1.16. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 0.12.
Chevron Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be paid a dividend of $1.51 per share. The ex-dividend date is Thursday, November 16th. This represents a $6.04 annualized dividend and a yield of 4.18%. Chevron’s dividend payout ratio (DPR) is 44.84%.
Analyst Ratings Changes
CVX has been the topic of a number of research analyst reports. BNP Paribas raised Chevron from a “neutral” rating to an “outperform” rating and set a $190.00 price target on the stock in a report on Thursday, October 12th. Raymond James reduced their price target on Chevron from $200.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, October 30th. The Goldman Sachs Group upgraded Chevron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $166.00 to $187.00 in a research report on Monday, July 31st. UBS Group increased their target price on Chevron from $209.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Finally, Mizuho cut their price target on Chevron from $215.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $187.89.
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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.
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