Kinsale Capital Group Inc. raised its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 5.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,419 shares of the oil and gas company's stock after buying an additional 1,892 shares during the period. Chevron comprises about 1.6% of Kinsale Capital Group Inc.'s investment portfolio, making the stock its 29th biggest holding. Kinsale Capital Group Inc.'s holdings in Chevron were worth $6,594,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also modified their holdings of CVX. Eagle Capital Management LLC lifted its stake in shares of Chevron by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after purchasing an additional 242 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its stake in shares of Chevron by 7.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock valued at $5,212,000 after purchasing an additional 2,641 shares during the last quarter. Maridea Wealth Management LLC acquired a new stake in shares of Chevron in the 4th quarter valued at $318,000. Schroder Investment Management Group lifted its stake in shares of Chevron by 9.4% in the 4th quarter. Schroder Investment Management Group now owns 1,090,546 shares of the oil and gas company's stock valued at $156,024,000 after purchasing an additional 93,499 shares during the last quarter. Finally, RWA Wealth Partners LLC lifted its position in Chevron by 3.1% during the 4th quarter. RWA Wealth Partners LLC now owns 130,947 shares of the oil and gas company's stock worth $18,966,000 after acquiring an additional 3,956 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.
Chevron Price Performance
NYSE CVX traded up $1.34 on Monday, reaching $156.18. The company's stock had a trading volume of 8,753,488 shares, compared to its average volume of 11,984,889. The firm has a market cap of $272.75 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 2.44 and a beta of 0.83. The business has a 50-day moving average price of $145.48 and a 200 day moving average price of $148.84. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17.
Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.93 earnings per share. Sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current year.
Chevron Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.38%. Chevron's dividend payout ratio is 78.17%.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Chevron from $165.00 to $178.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a research report on Tuesday, May 6th. HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and cut their target price for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. UBS Group cut their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Finally, Barclays reissued an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $162.13.
Read Our Latest Report on Chevron
Chevron Profile
(
Free Report)
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.
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