Chevron (NYSE:CVX) Shares Up 2% – Here’s What Happened

Shares of Chevron Corporation (NYSE:CVX) were up 2% during trading on Thursday . The stock traded as high as $169.55 and last traded at $169.0640. Approximately 9,511,570 shares changed hands during mid-day trading, a decline of 19% from the average daily volume of 11,689,808 shares. The stock had previously closed at $165.69.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wolfe Research upgraded Chevron to Outperform, saying the recent pullback has created an attractive entry point and that Chevron’s long-term free cash flow outlook is stronger than the market is pricing in. Wolfe Research upgrades Chevron to Outperform on strong cash flow outlook
• Positive Sentiment: RBC Capital also reaffirmed its Buy rating on Chevron, adding to the positive analyst tone around the stock. RBC Capital Reaffirms Their Buy Rating on Chevron (CVX)
• Neutral Sentiment: Several market updates highlighted Chevron’s strong cash generation, solid returns, and ongoing investor interest, while noting the stock may be near fair value rather than deeply discounted. Chevron (CVX) Stock Looks Near Fair Value With Strong Returns But Rich Earnings
• Neutral Sentiment: Chevron remains in focus ahead of its second-quarter earnings conference call later this month, which could become the next major catalyst for the shares. Advisory: Chevron Corporation’s 2Q 2026 Earnings Conference Call and Webcast
• Negative Sentiment: A New York Post report said President Trump is pressuring Big Oil to lower gas prices ahead of the midterm elections, which could raise concerns about margin pressure or political scrutiny for Chevron and peers. Big Oil heads for biggest profits in years as Trump pushes for lower gas prices

Analyst Ratings Changes

CVX has been the subject of several analyst reports. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a research note on Friday, March 20th. Tudor Pickering upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 target price on the stock in a research report on Thursday, April 9th. TD Cowen raised their target price on shares of Chevron from $204.00 to $205.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $220.00 price target on shares of Chevron in a research report on Tuesday, May 5th. Finally, Piper Sandler boosted their price target on Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Nineteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $205.71.

Chevron Stock Performance

The firm has a market cap of $336.71 billion, a price-to-earnings ratio of 29.30, a P/E/G ratio of 0.57 and a beta of 0.50. The stock has a 50 day moving average of $183.31 and a 200 day moving average of $180.40. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. During the same period in the prior year, the company posted $2.18 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts anticipate that Chevron Corporation will post 15.52 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio is 123.40%.

Insider Activity

In related news, Director John B. Hess sold 380,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director owned 278,045 shares in the company, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Chevron

A number of large investors have recently modified their holdings of CVX. State Street Corp boosted its stake 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 valued at $23,698,184,000 after buying an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc grew its position in Chevron by 6.6% in 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 acquiring an additional 8,091,570 shares during the last quarter. Geode Capital Management LLC raised its stake in Chevron by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock worth $6,620,187,000 after acquiring an additional 134,890 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Chevron by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company’s stock worth $5,492,377,000 after acquiring an additional 961,341 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Chevron by 5.1% in the first 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 acquiring an additional 1,334,976 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Company 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.