Curbstone Financial Management Corp Acquires 2,168 Shares of Chevron Co. (NYSE:CVX)

Curbstone Financial Management Corp grew its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 15.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,112 shares of the oil and gas company's stock after purchasing an additional 2,168 shares during the period. Curbstone Financial Management Corp's holdings in Chevron were worth $2,695,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in CVX. Norges Bank purchased a new position in shares of Chevron in the fourth quarter worth approximately $3,017,750,000. Raymond James Financial Inc. acquired a new position in Chevron in the 4th quarter worth approximately $1,036,302,000. GAMMA Investing LLC grew its position in Chevron by 21,191.5% during the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock worth $904,746,000 after purchasing an additional 5,382,847 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Chevron by 17.3% during the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock valued at $2,389,380,000 after purchasing an additional 2,432,756 shares during the period. Finally, Amundi lifted its holdings in shares of Chevron by 27.7% in the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock valued at $1,323,549,000 after purchasing an additional 1,910,262 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CVX. Piper Sandler lowered their price target on Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. DZ Bank cut Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a research note on Tuesday, May 6th. Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Mizuho lowered their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Finally, BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $160.24.

Chevron Stock Performance

NYSE CVX traded down $0.03 during midday trading on Thursday, hitting $144.75. The company had a trading volume of 3,528,078 shares, compared to its average volume of 8,775,081. The firm has a fifty day simple moving average of $138.24 and a two-hundred day simple moving average of $149.42. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $252.79 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the business earned $2.93 earnings per share. Equities analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio is presently 78.17%.

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.