Chevron (NYSE:CVX) Shares Up 1.7% – Should You Buy?

Chevron Corporation (NYSE:CVX) shares shot up 1.7% during trading on Wednesday . The stock traded as high as $192.69 and last traded at $189.8940. 9,346,638 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 11,835,049 shares. The stock had previously closed at $186.76.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Brent crude falling below $90 a barrel has renewed attention on large, resilient energy names, and one article singled out Chevron as an evergreen oil stock that can still appeal to investors despite softer crude prices. Article Title
• Positive Sentiment: Coverage highlighting Chevron as a “Dividend King” supports the stock’s appeal for income-focused investors, reinforcing the company’s reputation for reliable shareholder returns. Article Title
• Positive Sentiment: Articles noting Chevron benefited from escalating conflict in Iran suggest geopolitical risks may be supporting oil prices and sentiment toward integrated energy producers like CVX. Article Title
• Positive Sentiment: Chevron’s planned $13.8 billion Vaca Muerta shale project in Argentina points to long-term production growth and could strengthen the company’s investment case if approved. Article Title
• Neutral Sentiment: Brokerage sentiment remains broadly constructive, with Chevron receiving a consensus “Moderate Buy” rating from analysts. Article Title
• Negative Sentiment: Zacks Research downgraded Chevron from “strong-buy” to “hold,” which may temper enthusiasm and help explain some hesitation in the stock. Article Title

Analysts Set New Price Targets

Several brokerages have recently commented on CVX. Barclays boosted their target price on Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 26th. Melius Research raised Chevron from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a report on Tuesday, February 17th. Weiss Ratings downgraded Chevron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Scotiabank upped their price objective on Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Finally, Zacks Research downgraded Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday. Eighteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.70.

Chevron Stock Performance

The firm has a fifty day simple moving average of $189.80 and a 200-day simple moving average of $177.47. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock has a market cap of $378.19 billion, a price-to-earnings ratio of 32.91, a P/E/G ratio of 0.63 and a beta of 0.48.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.00 by $0.41. The company had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.18 EPS. Analysts forecast that Chevron Corporation will post 15.74 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be given a dividend of $1.78 per share. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. Chevron’s payout ratio is presently 123.40%.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction 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 completion of the sale, the director owned 278,045 shares in the company, valued at approximately $53,718,294. The trade was a 57.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider R. Hewitt Pate sold 40,200 shares of the company’s stock in a transaction on Monday, March 30th. The shares were sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the sale, the insider owned 8,638 shares of the company’s stock, valued at $1,842,485.40. The trade was a 82.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 615,200 shares of company stock valued at $118,022,760 in the last quarter. Corporate insiders own 0.56% of the company’s stock.

Institutional Trading of Chevron

A number of large investors have recently made changes to their positions in CVX. Dakota Wealth Management boosted its stake in shares of Chevron by 14.9% during the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company’s stock worth $12,690,000 after buying an additional 10,822 shares during the last quarter. Brooklyn FI LLC acquired a new position in shares of Chevron during the 3rd quarter worth about $431,000. Clear Trail Advisors LLC acquired a new position in shares of Chevron during the 4th quarter worth about $10,167,000. Finemark National Bank & Trust boosted its stake in shares of Chevron by 40.3% during the 3rd quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company’s stock worth $8,779,000 after buying an additional 16,243 shares during the last quarter. Finally, Curtis Advisory Group LLC acquired a new position in shares of Chevron during the 4th quarter worth about $1,381,000. Institutional investors 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.