Alpha Cubed Investments LLC Sells 45,817 Shares of Chevron Co. (NYSE:CVX)

Alpha Cubed Investments LLC reduced its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 37.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,906 shares of the oil and gas company's stock after selling 45,817 shares during the period. Alpha Cubed Investments LLC's holdings in Chevron were worth $11,284,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CVX. Tacita Capital Inc lifted its holdings in Chevron by 16.7% in the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company's stock valued at $67,000 after buying an additional 65 shares during the period. Wallace Capital Management Inc. lifted its stake in shares of Chevron by 0.8% in the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company's stock valued at $1,212,000 after purchasing an additional 65 shares during the period. Cyndeo Wealth Partners LLC boosted its position in shares of Chevron by 0.3% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company's stock worth $2,911,000 after purchasing an additional 67 shares during the last quarter. S.A. Mason LLC grew its stake in shares of Chevron by 0.7% during the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company's stock worth $1,330,000 after purchasing an additional 67 shares during the period. Finally, Jag Capital Management LLC increased its holdings in Chevron by 5.2% in the third quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company's stock valued at $201,000 after purchasing an additional 67 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company's stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by company insiders.

Chevron Price Performance

Shares of NYSE CVX opened at $156.39 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The business has a 50-day moving average of $154.05 and a 200-day moving average of $151.11. The stock has a market capitalization of $281.05 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.39 and a beta of 1.12. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts' consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business's revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company earned $3.05 earnings per share. As a group, sell-side analysts predict that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.17%. Chevron's payout ratio is 71.65%.

Analyst Upgrades and Downgrades

CVX has been the subject of several analyst reports. Barclays boosted their target price on Chevron from $168.00 to $174.00 and gave the stock an "overweight" rating in a research report on Monday, November 4th. Scotiabank lowered their target price on shares of Chevron from $180.00 to $163.00 and set a "sector outperform" rating for the company in a research note on Thursday, October 10th. DZ Bank raised shares of Chevron from a "hold" rating to a "buy" rating and set a $170.00 price target on the stock in a research report on Tuesday, November 5th. UBS Group upped their price objective on shares of Chevron from $194.00 to $195.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. Finally, Raymond James lifted their target price on Chevron from $175.00 to $180.00 and gave the stock an "outperform" rating in a report on Friday, January 17th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $175.27.

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.