Kayne Anderson Capital Advisors LP Takes Position in Chevron Corporation $CVX

Key Points

• Kayne Anderson Capital Advisors initiated a Chevron position of 72,254 shares valued at approximately $12.0 million in the second quarter. Institutional investors collectively own 72.42% of Chevron.
• Chevron reported strong quarterly results, with adjusted earnings of $6.06 per share and revenue of $67.2 billion, surpassing analyst expectations and representing 57.4% year-over-year revenue growth.
• Analysts maintain a positive outlook, with a consensus “Moderate Buy” rating and a $207.48 price target, while risks include substantial insider selling and potential future pressure from increased global oil supply.

Kayne Anderson Capital Advisors LP bought a new position in Chevron Corporation (NYSE:CVX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 72,254 shares of the oil and gas company's stock, valued at approximately $11,977,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Global Retirement Partners LLC bought a new position in shares of Chevron during the 2nd quarter worth about $14,276,000. Indivisible Partners acquired a new position in Chevron in the 4th quarter valued at approximately $1,923,000. Janney Montgomery Scott LLC lifted its position in shares of Chevron by 6.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company's stock worth $258,853,000 after acquiring an additional 79,439 shares during the period. Galaxy Digital Inc. bought a new stake in shares of Chevron during the first quarter valued at approximately $2,028,000. Finally, BOK Financial Private Wealth Inc. bought a new position in Chevron in the second quarter worth $654,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 100,000 shares of the company's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the completion of the sale, the director directly owned 178,045 shares in the company, valued at $34,587,021.70. This represents a 35.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew Benjamin Walz sold 16,800 shares of the business's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the sale, the insider owned 14 shares in the company, valued at $2,814.84. This represents a 99.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 1,152,582 shares of company stock worth $225,853,661. 0.56% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on CVX shares. 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. Bank of America increased their price objective on Chevron from $210.00 to $227.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. TD Cowen boosted their target price on shares of Chevron from $200.00 to $205.00 and gave the company a "hold" rating in a research note on Wednesday, August 5th. The Goldman Sachs Group reissued a "buy" rating and set a $216.00 price target on shares of Chevron in a report on Wednesday, May 6th. Finally, Wolfe Research upgraded shares of Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 target price for the company in a research note on Thursday, July 2nd. Twenty research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of "Moderate Buy" and a consensus price target of $207.48.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Brent crude recently approached $94–$95 per barrel amid renewed Middle East tensions and concerns about Strait of Hormuz disruptions. Sustained higher oil prices typically benefit Chevron’s upstream revenue, margins and cash flow. Chevron jumps as Brent crude approaches $94
• Positive Sentiment: Chevron confirmed an oil and gas condensate discovery at the 105-4X well in offshore Angola. Its proximity to existing facilities could allow a lower-cost tie-back, creating a potential source of future production. Chevron Angola discovery analysis
• Positive Sentiment: Chevron’s $1.78 quarterly dividend, equal to $7.12 annually and an approximately 3.5% yield, reinforces its appeal to income investors. The company also recently exceeded quarterly earnings and revenue expectations. Chevron raises dividend
• Neutral Sentiment: Analysis comparing Chevron with Exxon Mobil highlights differing long-term strategies, including Chevron’s continued emphasis on oil and gas. The approach could benefit from strong commodity prices but leaves CVX more exposed to future oil-demand and price cycles. Chevron versus Exxon Mobil analysis
• Negative Sentiment: Iraq plans to more than double its oil output over the next six years. If achieved, the added supply could pressure global crude prices and reduce the earnings benefit Chevron receives from today’s elevated prices. Iraq oil output and Chevron
• Negative Sentiment: Two Chevron insiders sold shares recently: Andrew Benjamin Walz sold 16,800 shares, while R. Hewitt Pate sold 2,470 shares. Although such transactions may reflect personal financial planning, they can create a modest sentiment overhang. Chevron insider sale report
• Negative Sentiment: A separate analysis says concerns remain centered on Chevron, including issues surrounding its Hess Midstream exposure and broader execution risks. The report may temper enthusiasm after CVX’s recent advance. Hess Midstream: The Issue Remains With Chevron

Chevron Trading Down 0.3%

NYSE:CVX opened at $205.25 on Friday. The stock has a market capitalization of $405.53 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 0.62 and a beta of 0.49. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The business's 50-day simple moving average is $185.03 and its 200-day simple moving average is $188.07.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business had revenue of $67.20 billion during the quarter, compared to analysts' expectations of $62.72 billion. During the same quarter in the prior year, the company posted $1.77 earnings per share. The firm's revenue was up 57.4% on a year-over-year basis. Sell-side analysts expect that Chevron Corporation will post 16.17 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.5%. Chevron's dividend payout ratio (DPR) is currently 68.26%.

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.

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