Cullen Capital Management, LLC, operating as Schafer Cullen Capital Management, Inc., released its second-quarter investor letter. US equities surged in Q2, with the S&P 500 up 10.9% and Russell 1000 Value up 3.8%. The SCCM Enhanced Equity Income Fund underperformed, returning -1.2% compared to S&P 500 Buy-Write Index at 1.9% and SPDR Bloomberg High Yield Bond ETF at 3.7%.

In its Q2 investor letter, SCCM Enhanced Equity Income Fund highlighted Chevron Corporation (NYSE: CVX). Chevron engages in energy and chemicals operations, with a 6.08% one-month return and 8.55% gain over 52 weeks. On August 29, 2025, Chevron stock closed at $160.60 per share, with a market cap of $323.58 billion.

SCCM Enhanced Equity Income Fund sold its position in Chevron during Q2 due to pending Hess acquisition and arbitration process uncertainty. The fund rotated into ConocoPhillips for clearer cash flow inflection and lower valuation. Jim Cramer praises Chevron for its 4.8% yield, making it a good investment for oil enthusiasts.

Chevron Corporation is not among the 30 most popular stocks among hedge funds. 76 hedge funds held Chevron at the end of Q2, down from 81 in the previous quarter. While Chevron has potential, some AI stocks offer greater upside potential with less downside risk. Investors seeking undervalued AI stocks can explore the best short-term AI stock in a free report.

Read more at Yahoo Finance: Here’s Why Chevron (CVX) Traded Lower in Q2