Curbstone Financial Management Corp Grows Stock Position in Chevron Co. (NYSE:CVX)

Curbstone Financial Management Corp increased its position in shares of Chevron Co. (NYSE:CVX) by 15.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,112 shares of the oil and gas company’s stock after buying an additional 2,168 shares during the quarter. Curbstone Financial Management Corp’s holdings in Chevron were worth $2,695,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Life Planning Partners Inc acquired a new stake in Chevron in the 4th quarter valued at approximately $25,000. IMG Wealth Management Inc. acquired a new stake in Chevron in the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron in the 4th quarter valued at approximately $29,000. 10Elms LLP acquired a new stake in Chevron in the 4th quarter valued at approximately $29,000. Finally, Fairway Wealth LLC increased its holdings in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CVX. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $160.00 to $143.00 in a report on Friday, April 11th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a report on Tuesday, May 6th. TD Cowen dropped their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. Redburn Atlantic reiterated a “sell” rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and dropped their price target for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $160.24.

Chevron Price Performance

Chevron stock opened at $143.40 on Wednesday. The stock has a market cap of $250.43 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a fifty day simple moving average of $138.21 and a 200-day simple moving average of $149.46. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. During the same period in the previous year, the company earned $2.93 EPS. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.77%. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Chevron Company 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.