Kinsale Capital Group Inc. Raises Stock Holdings in Chevron Corporation $CVX

Kinsale Capital Group Inc. raised its stake in Chevron Corporation (NYSE:CVX) by 6.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,155 shares of the oil and gas company’s stock after buying an additional 2,995 shares during the quarter. Chevron comprises about 1.8% of Kinsale Capital Group Inc.’s portfolio, making the stock its 22nd biggest holding. Kinsale Capital Group Inc.’s holdings in Chevron were worth $10,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the stock. Cornerstone Advisory LLC raised its stake in shares of Chevron by 0.9% in the 1st quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company’s stock valued at $1,164,000 after acquiring an additional 52 shares during the period. Compton Financial Group LLC boosted its position in shares of Chevron by 1.9% during the 1st quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company’s stock worth $609,000 after purchasing an additional 56 shares during the period. Quantum Portfolio Management LLC increased its holdings in Chevron by 2.7% in the 1st quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company’s stock valued at $435,000 after purchasing an additional 56 shares during the last quarter. D.B. Root & Company LLC increased its holdings in Chevron by 1.0% in the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock valued at $846,000 after purchasing an additional 57 shares during the last quarter. Finally, Chatterton & Associates Inc. raised its position in Chevron by 1.7% in the first quarter. Chatterton & Associates Inc. now owns 3,427 shares of the oil and gas company’s stock valued at $652,000 after purchasing an additional 57 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wolfe Research upgraded Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research note on Thursday, July 2nd. TD Cowen lifted their price objective on Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Tudor Pickering upgraded Chevron from a “hold” rating to a “buy” rating and set a $225.00 price objective on the stock in a report on Thursday, April 9th. The Goldman Sachs Group reissued a “buy” rating and set a $216.00 target price on shares of Chevron in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company lifted their target price on Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Nineteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $206.83.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expected to sign accords with Iraq to advance investments in major oil fields, including West Qurna 2 and Nassiriya, which could expand long-term production opportunities. Reuters article on Iraq oilfield MOUs
• Positive Sentiment: Reports that Chevron is exploring a pipeline alternative to the Strait of Hormuz suggest a potential way to boost Iraqi export capacity and lower shipping disruption risk, which investors may view as strategically important. The Motley Fool article on Hormuz bypass pipeline
• Positive Sentiment: Chevron is being highlighted as a relatively attractive long-term energy stock versus TotalEnergies because of its premium assets, strong balance sheet, and steadier earnings outlook. Yahoo Finance article comparing CVX and TTE
• Neutral Sentiment: Some commentary says Chevron stock looks closer to fairly valued after a strong five-year run, which may limit upside for investors expecting a clear bargain. Yahoo Finance article on valuation
• Neutral Sentiment: Chevron also benefited from broader energy-sector gains, with the sector rising even as the wider market was mixed. Yahoo Finance sector update

Chevron Stock Performance

Shares of Chevron stock opened at $187.39 on Friday. The business has a 50-day simple moving average of $181.54 and a 200-day simple moving average of $182.44. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71. The company has a market cap of $373.21 billion, a PE ratio of 32.48, a P/E/G ratio of 0.66 and a beta of 0.50.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter last year, the company earned $2.18 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts forecast that Chevron Corporation will post 14.78 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were given a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. Chevron’s dividend payout ratio is currently 123.40%.

Insider Activity at Chevron

In other news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.56% of the company’s stock.

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.