Kinsale Capital Group Inc. Buys 5,038 Shares of Chevron Corporation $CVX

Kinsale Capital Group Inc. grew its stake in shares of Chevron Corporation (NYSE:CVX) by 12.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 44,457 shares of the oil and gas company’s stock after acquiring an additional 5,038 shares during the period. Kinsale Capital Group Inc.’s holdings in Chevron were worth $6,366,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Ignite Planners LLC lifted its holdings in Chevron by 14.1% during the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock worth $2,060,000 after purchasing an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. grew its holdings in Chevron by 9.1% during the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock valued at $993,000 after buying an additional 495 shares in the last quarter. GW&K Investment Management LLC increased its position in shares of Chevron by 33.8% during the first quarter. GW&K Investment Management LLC now owns 1,260 shares of the oil and gas company’s stock valued at $211,000 after buying an additional 318 shares during the period. Mutual Advisors LLC increased its position in shares of Chevron by 7.3% during the second quarter. Mutual Advisors LLC now owns 88,759 shares of the oil and gas company’s stock valued at $13,743,000 after buying an additional 6,058 shares during the period. Finally, Costello Asset Management INC lifted its holdings in shares of Chevron by 26.9% in the second quarter. Costello Asset Management INC now owns 16,694 shares of the oil and gas company’s stock worth $2,390,000 after buying an additional 3,541 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity

In other Chevron news, Director John B. Hess sold 375,000 shares of the company’s 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 of the company’s stock, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. UBS Group boosted their price objective on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Piper Sandler raised their price target on shares of Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Scotiabank increased their price objective on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. Finally, Evercore ISI reissued an “outperform” rating and set a $180.00 price objective on shares of Chevron in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $165.40.

Chevron Stock Performance

Chevron stock opened at $155.10 on Friday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The stock has a market cap of $268.01 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83. The firm’s fifty day moving average price is $155.55 and its 200-day moving average price is $149.62.

Chevron (NYSE:CVX) last announced its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.14. The company had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.48 earnings per share. On average, equities research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Tuesday, November 18th. Chevron’s dividend payout ratio is presently 96.20%.

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.