Chevron Corporation $CVX Shares Acquired by Kinsale Capital Group Inc.

Kinsale Capital Group Inc. increased its holdings in shares of Chevron Corporation (NYSE:CVX) by 6.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,155 shares of the oil and gas company’s stock after purchasing an additional 2,995 shares during the quarter. Chevron makes up approximately 1.8% of Kinsale Capital Group Inc.’s portfolio, making the stock its 22nd biggest position. Kinsale Capital Group Inc.’s holdings in Chevron were worth $10,998,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Midwest Capital Advisors LLC acquired a new stake in Chevron during the first quarter worth approximately $25,000. Core Wealth Advisors LLC acquired a new position in shares of Chevron in the 4th quarter valued at $26,000. Phillip James Consulting Co. purchased a new position in shares of Chevron in the 4th quarter valued at $26,000. Basso Capital Management L.P. purchased a new position in shares of Chevron in the 4th quarter valued at $27,000. Finally, Karpus Management Inc. acquired a new stake in Chevron during the 4th quarter worth $27,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the transaction, the director owned 278,045 shares of the company’s stock, valued at $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.56% of the company’s stock.

Trending Headlines about 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 Up 1.9%

CVX stock opened at $187.39 on Friday. The company has a fifty day moving average price of $181.54 and a 200 day moving average price of $182.44. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71. The company has a market cap of $373.21 billion, a price-to-earnings ratio of 32.48, a price-to-earnings-growth ratio of 0.66 and a beta of 0.50. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter in the prior year, the business earned $2.18 EPS. Chevron’s quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts expect that Chevron Corporation will post 14.78 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. Chevron’s dividend payout ratio is 123.40%.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of research reports. TD Cowen boosted their price target on shares of Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Morgan Stanley dropped their price objective on Chevron from $214.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. Jefferies Financial Group reiterated a “buy” rating and set a $216.00 target price on shares of Chevron in a research report on Friday, July 10th. Wolfe Research raised Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 target price for the company in a report on Thursday, July 2nd. Finally, Scotiabank upped their target price on Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Nineteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $206.83.

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.