Zacks Research Upgrades Chevron (NYSE:CVX) to “Strong-Buy”

Chevron (NYSE:CVX) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday, Zacks reports.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company boosted their target price on Chevron from $226.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. HSBC set a $90.00 price objective on shares of Chevron in a research report on Friday, September 25th. Weiss Ratings raised shares of Chevron from a “hold (c)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Jefferies Financial Group upped their target price on shares of Chevron from $216.00 to $233.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Finally, BNP Paribas Exane cut their price target on shares of Chevron from $230.00 to $224.00 and set an “outperform” rating on the stock in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.87.

Chevron Stock Up 0.6%

Shares of Chevron stock opened at $207.65 on Monday. 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 company has a 50-day moving average of $203.56 and a 200 day moving average of $192.84. The firm has a market cap of $410.26 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 0.57 and a beta of 0.53. Chevron has a 1 year low of $146.49 and a 1 year high of $217.78.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The company had revenue of $67.20 billion during the quarter, compared to analysts’ expectations of $62.72 billion. During the same period last year, the company posted $1.77 EPS. Chevron’s revenue was up 57.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron will post 17.47 earnings per share for the current fiscal year.

Insider Activity at Chevron

In other Chevron news, insider R. Pate sold 2,470 shares of Chevron stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total value of $506,621.70. Following the completion of the sale, the insider owned 10,794 shares of the company’s stock, valued at approximately $2,213,957.34. The trade was a 18.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew Walz sold 16,800 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the sale, the insider owned 14 shares of the company’s stock, valued at approximately $2,814.84. This represents a 99.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 1,152,582 shares of company stock worth $225,853,661. Company insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. State Street Corp lifted its stake in shares of Chevron by 3.9% in the 2nd quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company’s stock worth $28,016,651,000 after purchasing an additional 5,998,852 shares during the period. BlackRock Inc. bought a new stake in Chevron during the second quarter valued at approximately $25,663,729,000. Berkshire Hathaway Inc grew its position in Chevron by 6.6% during 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 buying an additional 8,091,570 shares during the period. Bank of America Corp DE increased its holdings in Chevron by 5.1% during the first quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company’s stock valued at $5,716,694,000 after buying an additional 1,334,976 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Chevron by 1.5% during the fourth quarter. Invesco Ltd. now owns 17,119,575 shares of the oil and gas company’s stock valued at $2,609,194,000 after buying an additional 254,323 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Major Bakken cost reduction: Chevron agreed to restructure its Hess Midstream and DJ Basin arrangements. The revised Bakken contracts are expected to reduce midstream costs by approximately 50%, potentially improving earnings and return on capital. Chevron will also divest related ownership interests, simplifying its asset portfolio. Chevron to Divest its Ownership Interests in Hess Midstream and DJ Basin Crude Midstream Assets
• Positive Sentiment: Tighter oil and fuel markets: CEO Mike Wirth said supply buffers are shrinking as the Middle East conflict continues. A prolonged disruption could support crude and refined-product prices, which would benefit Chevron’s upstream and downstream businesses. Oil, fuel supply buffers are thinning as Middle East conflict continues, Chevron CEO says
• Positive Sentiment: Exploration upside: Chevron increased its position in Namibia’s PEL 90 ahead of the Nabba-1X well, signaling confidence in the Orange Basin’s exploration potential. The company is also increasing conventional exploration spending across several frontier regions. Chevron Strengthens Namibia Position Ahead of Nabba-1X Well
• Positive Sentiment: Positive market sentiment: Zacks added CVX to its Strong Buy and momentum-stock lists, reinforcing investor interest after the stock’s strong 2026 performance. Best Momentum Stocks to Buy for October 6th
• Neutral Sentiment: Leadership transition: Chevron is moving CFO Eimear Bonner to lead its oil, products and gas operations, while Jeff Gustavson is slated to become CFO in January. The changes provide internal continuity but may keep CEO succession discussions in focus. Chevron names insider CFO amid leadership shifts
• Negative Sentiment: Storm-related operating risk: Chevron evacuated nonessential personnel from some Gulf of Mexico platforms as a tropical storm approached. A significant storm could temporarily disrupt production, though the immediate action is precautionary. Chevron evacuates some workers from Gulf of Mexico platforms at risk of storm
• Negative Sentiment: Diesel-export policy risk: Wirth warned that a U.S. diesel export ban could raise domestic prices, disrupt overseas customers and ultimately worsen fuel-market conditions. Such policy uncertainty could pressure refining operations and margins. Chevron CEO warns against unwise diesel export ban

Chevron Company Profile

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.