Curbstone Financial Management Corp Sells 2,602 Shares of Chevron Corporation $CVX

Curbstone Financial Management Corp cut its holdings in shares of Chevron Corporation (NYSE:CVX) by 16.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,510 shares of the oil and gas company’s stock after selling 2,602 shares during the quarter. Curbstone Financial Management Corp’s holdings in Chevron were worth $1,934,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Kingstone Capital Partners Texas LLC raised its holdings in Chevron by 652,139.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after acquiring an additional 83,702,101 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Chevron by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after acquiring an additional 1,574,464 shares during the period. Invesco Ltd. raised its holdings in Chevron by 5.5% during the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock valued at $2,652,437,000 after acquiring an additional 827,851 shares during the period. Dimensional Fund Advisors LP raised its holdings in Chevron by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock valued at $2,054,513,000 after acquiring an additional 40,758 shares during the period. Finally, GQG Partners LLC bought a new stake in Chevron during the first quarter valued at about $1,466,751,000. 72.42% of the stock is owned by institutional investors.

Chevron Trading Up 0.9%

CVX opened at $153.12 on Friday. The firm has a market cap of $264.58 billion, a P/E ratio of 19.71, a P/E/G ratio of 2.00 and a beta of 0.84. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average of $156.03 and a 200 day moving average of $148.15.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm’s revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the business posted $2.55 earnings per share. As a group, research analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.5%. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Insider Activity

In other news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CVX shares. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Wells Fargo & Company started coverage on Chevron in a research report on Friday. They set an “overweight” rating and a $190.00 price objective for the company. Raymond James Financial restated an “outperform” rating and set a $160.00 price objective (down previously from $170.00) on shares of Chevron in a research report on Friday. Mizuho cut their price objective on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Finally, Melius started coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective for the company. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Chevron has a consensus rating of “Hold” and an average price target of $165.25.

About Chevron

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.