Alpha Cubed Investments LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 13.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,229 shares of the oil and gas company’s stock after selling 1,148 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Chevron were worth $520,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. BTC Capital Management Inc. raised its stake in Chevron by 6.8% in the third quarter. BTC Capital Management Inc. now owns 108,678 shares of the oil and gas company’s stock valued at $7,822,000 after purchasing an additional 6,893 shares in the last quarter. Investors Financial Group LLC raised its stake in Chevron by 63.6% during the third quarter. Investors Financial Group LLC now owns 4,171 shares of the oil and gas company’s stock worth $300,000 after acquiring an additional 1,622 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in Chevron by 182.9% during the third quarter. Avantax Advisory Services Inc. now owns 262,341 shares of the oil and gas company’s stock worth $18,891,000 after acquiring an additional 169,595 shares in the last quarter. Sabal Trust CO raised its stake in Chevron by 1.5% during the third quarter. Sabal Trust CO now owns 190,552 shares of the oil and gas company’s stock worth $13,720,000 after acquiring an additional 2,729 shares in the last quarter. Finally, McKinley Carter Wealth Services Inc. raised its stake in Chevron by 5.5% during the third quarter. McKinley Carter Wealth Services Inc. now owns 12,225 shares of the oil and gas company’s stock worth $880,000 after acquiring an additional 639 shares in the last quarter. 64.01% of the stock is owned by institutional investors and hedge funds.

Chevron stock opened at $72.89 on Friday. The stock has a market capitalization of $136.11 billion, a price-to-earnings ratio of -15.64, a PEG ratio of 2,483.67 and a beta of 1.26. Chevron Co. has a 52-week low of $51.60 and a 52-week high of $122.94. The stock’s 50 day moving average price is $76.82 and its two-hundred day moving average price is $85.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.87 and a current ratio of 1.14.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported ($1.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.66). The business had revenue of $13.95 billion for the quarter, compared to the consensus estimate of $21.71 billion. Chevron had a positive return on equity of 3.61% and a negative net margin of 7.41%. Chevron’s quarterly revenue was down 64.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.77 earnings per share. On average, equities research analysts forecast that Chevron Co. will post 0.01 EPS for the current year.

In other Chevron news, insider David A. Inchausti sold 5,750 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $92.00, for a total transaction of $529,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.28% of the stock is currently owned by corporate insiders.

Several research analysts have commented on CVX shares. BofA Securities raised Chevron from a “neutral” rating to a “buy” rating and set a $96.00 target price for the company in a research note on Monday, September 28th. SunTrust Banks started coverage on Chevron in a research note on Thursday, July 23rd. They set a “buy” rating and a $120.00 target price for the company. Zacks Investment Research raised Chevron from a “hold” rating to a “strong-buy” rating and set a $105.00 target price for the company in a research note on Wednesday, July 22nd. Scotia Howard Weill downgraded Chevron from a “buy” rating to a “sector perform” rating and set a $121.00 target price for the company. in a research note on Thursday, September 24th. Finally, Bank of America raised Chevron from a “neutral” rating to a “buy” rating and set a $96.00 price objective for the company in a research note on Monday, September 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $107.27.

About Chevron

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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