Chevron Co. (NYSE:CVX) Position Boosted by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC boosted its position in Chevron Co. (NYSE:CVX) by 1.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 123,723 shares of the oil and gas company’s stock after purchasing an additional 1,847 shares during the period. Alpha Cubed Investments LLC’s holdings in Chevron were worth $18,221,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Pacifica Partners Inc. lifted its position 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 in the last quarter. Private Wealth Management Group LLC raised its stake in Chevron by 15.7% in 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 purchasing an additional 63 shares during the last quarter. Montz Harcus Wealth Management LLC raised its stake in Chevron by 2.2% in the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after purchasing an additional 63 shares during the last quarter. Hubbell Strickland Wealth Management LLC raised its stake in Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after purchasing an additional 64 shares during the last quarter. Finally, Ellenbecker Investment Group raised its stake in Chevron by 1.5% in the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $151.14 on Tuesday. The business has a 50-day moving average of $145.99 and a 200 day moving average of $154.11. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $170.17. The stock has a market capitalization of $278.55 billion, a price-to-earnings ratio of 13.90, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.08 EPS. As a group, sell-side analysts forecast that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.31%. Chevron’s payout ratio is 59.98%.

Analyst Ratings Changes

Several research firms recently commented on CVX. Barclays reduced their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Mizuho reduced their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. UBS Group cut their target price on Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Wolfe Research began coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Truist Financial cut their target price on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $179.00.

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.