Chevron Corporation $CVX Shares Acquired by KMG Fiduciary Partners LLC

by · The Cerbat Gem

KMG Fiduciary Partners LLC lifted its position in shares of Chevron Corporation (NYSE:CVX – Free Report) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,518 shares of the oil and gas company’s stock after buying an additional 1,265 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Chevron were worth $10,670,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd boosted its position in shares of Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 122 shares during the last quarter. Elequin Capital LP acquired a new stake in shares of Chevron in the first quarter worth approximately $31,000. 10Elms LLP acquired a new stake in shares of Chevron in the fourth quarter worth approximately $29,000. IFS Advisors LLC boosted its position in shares of Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 116 shares during the last quarter. Finally, Cloud Capital Management LLC acquired a new stake in shares of Chevron in the first quarter worth approximately $39,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Chevron Price Performance

Shares of NYSE CVX opened at $159.98 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a market capitalization of $276.44 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 2.00 and a beta of 0.90. The firm has a 50-day moving average of $155.13 and a two-hundred day moving average of $148.94.

Chevron (NYSE:CVX – Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same period in the prior year, the firm earned $2.55 earnings per share. The business’s quarterly revenue was down 12.4% on a year-over-year basis. As a group, analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. Chevron’s dividend payout ratio is currently 88.03%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CVX shares. Mizuho decreased their target price on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research report on Monday. Morgan Stanley started coverage on shares of Chevron in a research report on Monday, August 4th. They issued an “overweight” rating and a $174.00 target price on the stock. TD Cowen raised their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Evercore ISI reaffirmed an “outperform” rating and set a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. Finally, Piper Sandler lifted their price target on shares of Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $165.05.

View Our Latest Report on Chevron

Chevron Company 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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