KMG Fiduciary Partners LLC Reduces Position in Chevron Corporation $CVX

Key Points

• KMG Fiduciary Partners cut its Chevron stake by 26.4% in the second quarter, selling 21,015 shares and retaining 58,508 shares valued at approximately $9.7 million. Institutional investors collectively own 72.42% of Chevron.
• Chevron reported a strong second quarter, with earnings of $6.06 per share and revenue of $67.2 billion, exceeding analyst expectations. Hess acquisition synergies and early achievement of its $3 billion cost-reduction target are supporting the company’s growth outlook.
• Chevron shares recently traded at $194.57, while analysts maintain a “Moderate Buy” consensus with an average price target of $207.48. The company also declared a quarterly dividend of $1.78 per share, equivalent to a 3.7% annualized yield, though substantial insider selling and commodity-price volatility remain risks.

KMG Fiduciary Partners LLC decreased its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 26.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CVX. Cornerstone Advisory LLC lifted its position in Chevron by 0.9% during the first quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company's stock valued at $1,164,000 after purchasing an additional 52 shares in the last quarter. Compton Financial Group LLC increased its position in Chevron by 1.9% in the first quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company's stock worth $609,000 after buying an additional 56 shares in the last quarter. Quantum Portfolio Management LLC increased its position in Chevron by 2.7% in the first quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company's stock worth $435,000 after buying an additional 56 shares in the last quarter. Wealthspire Retirement LLC raised its stake in shares of Chevron by 0.9% in the first quarter. Wealthspire Retirement LLC now owns 6,530 shares of the oil and gas company's stock worth $1,351,000 after buying an additional 56 shares during the period. Finally, D.B. Root & Company LLC raised its stake in shares of Chevron by 1.0% in the fourth quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company's stock worth $846,000 after buying an additional 57 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Key Chevron News

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

Insider Activity

In other news, CEO Michael K. Wirth sold 5,547 shares of Chevron stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total value of $1,037,289.00. Following the sale, the chief executive officer directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John B. Hess sold 100,000 shares of the business's stock in a transaction dated 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 sale, the director owned 178,045 shares in the company, valued at $34,587,021.70. This represents a 35.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,196,212 shares of company stock worth $231,819,366 over the last ninety days. Insiders own 0.56% of the company's stock.

Chevron Trading Up 4.3%

Shares of CVX opened at $194.57 on Tuesday. The firm has a market cap of $384.43 billion, a P/E ratio of 18.65, a price-to-earnings-growth ratio of 0.57 and a beta of 0.49. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $214.71. The company has a 50 day simple moving average of $182.55 and a two-hundred day simple moving average of $186.14.

Chevron (NYSE:CVX - Get Free Report) last released 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 firm had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. During the same quarter in the previous year, the firm earned $1.77 earnings per share. The company's quarterly revenue was up 57.4% compared to the same quarter last year. On average, equities analysts expect that Chevron Corporation will post 15.86 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a dividend of $1.78 per share. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.7%. Chevron's dividend payout ratio (DPR) is presently 68.26%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. UBS Group reaffirmed a "buy" rating on shares of Chevron in a research report on Tuesday, June 23rd. Zacks Research cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 8th. Scotiabank lifted their price target on shares of Chevron from $168.00 to $187.00 and gave the company a "sector perform" rating in a report on Wednesday, April 22nd. Jefferies Financial Group reaffirmed a "buy" rating and set a $216.00 price target on shares of Chevron in a report on Friday, July 10th. Finally, Bank of America upped their price target on shares of Chevron from $210.00 to $227.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Eighteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $207.48.

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.

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