Alpha Cubed Investments LLC Purchases 8,485 Shares of Chevron Corporation (NYSE:CVX)

Alpha Cubed Investments LLC increased its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 10.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,391 shares of the oil and gas company's stock after buying an additional 8,485 shares during the quarter. Alpha Cubed Investments LLC's holdings in Chevron were worth $14,452,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CVX. Berkeley Capital Partners LLC grew its stake in Chevron by 0.4% during the 4th quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock valued at $2,572,000 after acquiring an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its position in Chevron by 6.1% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company's stock valued at $171,000 after purchasing an additional 68 shares in the last quarter. CoreCap Advisors LLC grew its position in Chevron by 0.3% during the fourth quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock valued at $4,091,000 after purchasing an additional 71 shares in the last quarter. Fairscale Capital LLC grew its holdings in shares of Chevron by 11.5% during the 4th quarter. Fairscale Capital LLC now owns 706 shares of the oil and gas company's stock valued at $102,000 after acquiring an additional 73 shares in the last quarter. Finally, Austin Wealth Management LLC grew its stake in Chevron by 3.2% in the fourth quarter. Austin Wealth Management LLC now owns 2,364 shares of the oil and gas company's stock valued at $342,000 after purchasing an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

NYSE:CVX traded up $1.18 during mid-day trading on Thursday, hitting $154.20. 8,389,843 shares of the company's stock traded hands, compared to its average volume of 8,339,622. The firm has a 50 day moving average of $141.92 and a two-hundred day moving average of $148.25. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The firm has a market capitalization of $269.29 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 2.64 and a beta of 0.83. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same period in the prior year, the business earned $2.93 earnings per share. Chevron's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio (DPR) is presently 78.17%.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent research reports. Redburn Atlantic restated a "sell" rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Piper Sandler upped their price objective on shares of Chevron from $162.00 to $164.00 and gave the stock an "overweight" rating in a report on Wednesday, July 2nd. Finally, Mizuho decreased their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $160.65.

Chevron 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.