Kinsale Capital Group Inc. Grows Stock Holdings in Chevron Co. (NYSE:CVX)

Kinsale Capital Group Inc. grew its holdings in Chevron Co. (NYSE:CVX) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,527 shares of the oil and gas company’s stock after purchasing an additional 384 shares during the quarter. Kinsale Capital Group Inc.’s holdings in Chevron were worth $5,435,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron during the 3rd quarter worth approximately $29,000. Rational Advisors LLC acquired a new stake in shares of Chevron during the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron during the 3rd quarter worth approximately $30,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron during the 3rd quarter worth approximately $31,000. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $39,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CVX shares. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and raised their price target for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Truist Financial cut their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Barclays dropped their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Wells Fargo & Company dropped their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $174.13.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

Shares of CVX stock opened at $158.59 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The stock has a market capitalization of $279.21 billion, a PE ratio of 16.32, a P/E/G ratio of 1.46 and a beta of 1.11. The firm has a 50 day moving average of $153.14 and a two-hundred day moving average of $151.49.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the firm posted $3.45 earnings per share. On average, research analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

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.