Kinsale Capital Group Inc. Has $5.47 Million Stock Position in Chevron Co. (NYSE:CVX)

Kinsale Capital Group Inc. increased its stake in Chevron Co. (NYSE:CVX) by 1.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 37,143 shares of the oil and gas company’s stock after purchasing an additional 425 shares during the quarter. Chevron makes up approximately 1.6% of Kinsale Capital Group Inc.’s investment portfolio, making the stock its 26th largest position. Kinsale Capital Group Inc.’s holdings in Chevron were worth $5,470,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Rational Advisors LLC bought a new position in shares of Chevron during the 3rd quarter worth approximately $29,000. Anfield Capital Management LLC boosted its position in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the period. Cyrus J. Lawrence LLC increased its holdings in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Livelsberger Financial Advisory bought a new position in shares of Chevron in the third quarter valued at about $47,000. Finally, Krane Funds Advisors LLC acquired a new stake in shares of Chevron during the 3rd quarter worth about $47,000. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

CVX stock opened at $161.42 on Friday. The company’s 50-day moving average price is $149.39 and its two-hundred day moving average price is $152.62. The firm has a market cap of $290.09 billion, a P/E ratio of 17.74, a P/E/G ratio of 3.63 and a beta of 1.09. 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 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period last year, the firm posted $3.05 earnings per share. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, analysts anticipate that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. Chevron’s dividend payout ratio is currently 71.65%.

Analyst Ratings Changes

A number of brokerages recently commented on CVX. UBS Group upped their price target on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Truist Financial upped their target price on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Scotiabank dropped their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Royal Bank of Canada boosted their price target on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.93.

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.