Alpha Cubed Investments LLC Has $9.84 Million Stake in Chevron Co. (NYSE:CVX)

Alpha Cubed Investments LLC boosted its stake in Chevron Co. (NYSE:CVX) by 252.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,943 shares of the oil and gas company’s stock after purchasing an additional 47,240 shares during the period. Alpha Cubed Investments LLC’s holdings in Chevron were worth $9,836,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CVX. Picton Mahoney Asset Management acquired a new stake in Chevron in the third quarter valued at $26,000. Valley Forge Investment Consultants Inc. ADV increased its holdings in Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC acquired a new stake in Chevron in the fourth quarter valued at $33,000. Legacy Financial Group LLC acquired a new stake in Chevron during the 3rd quarter worth about $43,000. Finally, Roble Belko & Company Inc grew its holdings in Chevron by 77.3% during the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 150 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 3.0 %

NYSE CVX traded down $5.06 during trading hours on Tuesday, hitting $161.27. The company’s stock had a trading volume of 8,382,708 shares, compared to its average volume of 8,454,227. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a market capitalization of $299.52 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 2.44 and a beta of 1.12. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The company’s 50-day simple moving average is $156.81 and its two-hundred day simple moving average is $151.70.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter last year, the firm earned $3.55 EPS. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. Research analysts anticipate that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. Chevron’s dividend payout ratio is currently 59.98%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Barclays assumed coverage on Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target for the company. Raymond James increased their price target on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. TD Cowen increased their price target on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday. Finally, Truist Financial cut their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $185.35.

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.