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

Chevron Corporation (NYSE:CVX) gapped up before the market opened on Monday . The stock had previously closed at $155.90, but opened at $165.75. Chevron shares last traded at $162.62, with a volume of 13,520,823 shares traded.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Catalyst — U.S. forces captured Venezuela’s leader and President Trump signaled U.S. interest in reviving Venezuelan oil access, boosting investor hopes that American majors (and Chevron, the only large U.S. operator still in Venezuela) could gain market share. Chevron, US refiners’ shares surge after Trump’s move toward Venezuela oil
• Positive Sentiment: Market positioning — Unusually large call buying today (147,579 calls, ~+385% vs. typical daily call volume) signals strong speculative/bullish bets that CVX will rise further in the short term.
• Positive Sentiment: Deal flow potential — A former Chevron executive is reportedly raising ~$2 billion for Venezuelan oil projects, highlighting near-term investor interest and potential capital directed at Venezuelan opportunities that could benefit industry incumbents. Ex-Chevron executive seeks $2bn for Venezuelan oil projects
• Neutral Sentiment: Prices vs. equities — Several reports note oil equities are rallying while crude prices have only moved modestly; that divergence means gains for CVX could be more sentiment-driven and vulnerable if oil prices don’t follow. Chevron, Exxon and SLB Stocks Are Surging But Oil Prices Aren’t Moving. What’s Up.
• Neutral Sentiment: Limited company engagement — Multiple reports say the Trump administration did not consult majors (including Chevron) before/after the Venezuela action, suggesting companies may not be direct beneficiaries of policy moves in the near term. Trump administration has not consulted US oil majors about Venezuela, oil execs say
• Negative Sentiment: Analyst tweak — Citigroup trimmed its CVX price target from $185 to $179 (still a Buy), a modest downgrade that signals caution from some sell-side analysts even as sentiment turns positive. Benzinga
• Negative Sentiment: Macro/structural risk — Analysis warns Venezuela’s situation could keep global oil prices lower for longer or introduce execution, legal and reputational risks for firms tied to Venezuelan assets; those factors could limit lasting upside for CVX. Chevron: Venezuela Could Keep Oil Price Below $60 For Longer

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CVX. Hsbc Global Res raised Chevron from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Piper Sandler dropped their price objective on Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. Sanford C. Bernstein lifted their price objective on shares of Chevron from $170.00 to $172.00 and gave the company a “market perform” rating in a research note on Monday. Scotiabank increased their price target on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Finally, Morgan Stanley boosted their target price on shares of Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $166.90.

Chevron Price Performance

The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The business has a fifty day moving average price of $151.88 and a 200-day moving average price of $153.09. The stock has a market capitalization of $331.86 billion, a PE ratio of 23.15, a PEG ratio of 9.76 and a beta of 0.70.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The company had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. During the same period in the prior year, the business posted $2.48 EPS. The firm’s revenue was down 1.9% compared to the same quarter last year. Research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 96.20%.

Insider Activity at Chevron

In other Chevron news, Director John B. Hess sold 275,000 shares of Chevron stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the transaction, the director directly owned 1,128,045 shares of the company’s stock, valued at approximately $170,052,783.75. The trade was a 19.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Chevron

Several hedge funds and other institutional investors have recently made changes to their positions in CVX. Quaker Wealth Management LLC grew its position in shares of Chevron by 197.7% during the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 439 shares in the last quarter. Decker Retirement Planning Inc. bought a new stake in shares of Chevron during the third quarter worth $34,000. Vermillion & White Wealth Management Group LLC grew its stake in Chevron by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 118 shares in the last quarter. IMG Wealth Management Inc. increased its position in Chevron by 52.3% during the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 91 shares during the period. Finally, Marquette Asset Management LLC bought a new position in shares of Chevron in the 3rd quarter worth $41,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

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.