KMG Fiduciary Partners LLC Reduces Stock Position in Chevron Corporation $CVX

KMG Fiduciary Partners LLC cut its holdings in Chevron Corporation (NYSE:CVX) by 26.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 58,508 shares of the oil and gas company’s stock after selling 21,015 shares during the period. KMG Fiduciary Partners LLC’s holdings in Chevron were worth $9,698,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp grew its position in Chevron by 9.1% in the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after acquiring an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc raised its position in Chevron by 6.6% during the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock valued at $19,837,131,000 after purchasing an additional 8,091,570 shares during the period. Geode Capital Management LLC lifted its stake in shares of Chevron by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock valued at $6,620,187,000 after purchasing an additional 134,890 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Chevron by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company’s stock valued at $5,492,377,000 after purchasing an additional 961,341 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Chevron by 5.1% in the 1st quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company’s stock worth $5,716,694,000 after purchasing an additional 1,334,976 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Michael K. Wirth sold 5,547 shares of Chevron stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total transaction of $1,037,289.00. Following the completion of the sale, the chief executive officer owned 26,308 shares of the company’s stock, valued at approximately $4,919,596. The trade was a 17.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John B. Hess sold 100,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total value of $19,426,000.00. Following the completion of the transaction, the director directly owned 178,045 shares in the company, valued at approximately $34,587,021.70. This trade represents a 35.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,196,212 shares of company stock valued at $231,819,366. 0.56% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Jefferies Financial Group reissued a “buy” rating and set a $216.00 target price on shares of Chevron in a research report on Friday, July 10th. Mizuho set a $224.00 price target on Chevron in a research report on Monday, August 3rd. TD Cowen lifted their price objective on shares of Chevron from $200.00 to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. UBS Group reiterated a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. Finally, Weiss Ratings downgraded shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Eighteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and an average target price of $207.48.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Renewed uncertainty around shipping through the Strait of Hormuz has pushed Brent crude back toward $89 per barrel. Higher oil prices typically benefit Chevron’s upstream business by increasing realized prices and operating cash flow. Chevron Stock Jumps 3.3% as Hormuz Doubts Lift Oil
• Positive Sentiment: Chevron’s second-quarter performance exceeded expectations, with earnings of $6.06 per share versus a $5.55 consensus estimate and revenue of $67.2 billion versus $62.72 billion expected. Record production, strong cash generation and operational execution are reinforcing investor confidence. CVX’s Q2 Earnings Beat
• Positive Sentiment: Hess acquisition synergies are reportedly ahead of schedule, supporting production growth through 2030, additional free cash flow and greater per-share accretion. Management has also reached its $3 billion annualized structural cost-reduction target six months early. Can Chevron’s Hess Synergies Extend Growth and Lift Cash Flow Further?
• Neutral Sentiment: Geopolitical tensions and possible changes to the Jones Act are keeping fuel-market conditions and crude prices volatile. This may support upstream profits but could also increase political pressure over gasoline prices. Why Trump’s Waiver of the Jones Act Is Unlikely To Lower Gas Prices
• Negative Sentiment: Analysts caution that commodity-price reversals, planned maintenance and execution risks could limit the rally despite Chevron’s strong results. Recent insider selling also presents a modest sentiment headwind. Chevron Stock Price Down After Insider Selling

Chevron Stock Performance

CVX stock opened at $194.57 on Tuesday. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The firm has a market cap of $384.43 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 0.57 and a beta of 0.49. The business’s fifty day simple moving average is $182.55 and its two-hundred day simple moving average is $186.14. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. The firm had revenue of $67.20 billion for the quarter, compared to analysts’ expectations of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.77 earnings per share. Analysts predict that Chevron Corporation will post 15.86 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron’s payout ratio is 68.26%.

About Chevron

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.