Chevron (NYSE:CVX) Stock Price Down 1.4% on Insider Selling

Shares of Chevron Corporation (NYSE:CVX) were down 1.4% on Wednesday after an insider sold shares in the company. The stock traded as low as $184.15 and last traded at $186.09. Approximately 10,883,487 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 12,068,484 shares. The stock had previously closed at $188.77.

Specifically, insider R. Hewitt Pate sold 35,475 shares of the company’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $186.06, for a total value of $6,600,478.50. Following the completion of the sale, the insider directly owned 8,558 shares in the company, valued at $1,592,301.48. This represents a 80.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider R. Hewitt Pate sold 58,000 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $188.65, for a total value of $10,941,700.00. Following the completion of the sale, the insider owned 8,558 shares of the company’s stock, valued at approximately $1,614,466.70. The trade was a 87.14% decrease in their position. The SEC filing for this sale provides additional information.

Wall Street Analyst Weigh In

CVX has been the subject of several analyst reports. Citigroup increased their target price on shares of Chevron from $179.00 to $210.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company lifted their target price on Chevron from $196.00 to $204.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. TD Cowen boosted their price target on Chevron from $160.00 to $168.00 and gave the stock a “hold” rating in a report on Monday, February 2nd. UBS Group reaffirmed a “buy” rating and set a $212.00 price objective on shares of Chevron in a report on Monday, February 2nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, January 21st. Thirteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $178.95.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Energy-price rally lifting majors — higher crude and gas futures amid supply disruptions are underpinning Chevron’s margins and valuation, providing upward support to the stock. Cheniere, Exxon, Chevron Stocks Rise Again
• Positive Sentiment: Bullish analyst and bank views — recent upgrades and a Bank of America forecast for strong price appreciation reinforce investor confidence in CVX’s cash returns and growth (dividends/buybacks and Guyana/Venezuela upside). Bank of America Forecasts Strong Price Appreciation for Chevron
• Neutral Sentiment: Increased investor attention but mixed sentiment — search interest and coverage have picked up (which can drive volume), yet analyst views remain split between upgrades and cautious holds. Chevron is Attracting Investor Attention
• Negative Sentiment: Leviathan production halted — Israeli security orders led Chevron to suspend production and declare force majeure at the Leviathan gas field, creating a direct near‑term hit to upstream volumes and adding uncertainty to regional project timelines. Chevron Ordered to Halt Leviathan Gas Production
• Negative Sentiment: Wider geopolitical risk — reports of Iranian contacts and threats around the Strait of Hormuz have lifted volatility and raise the prospect of further supply shocks or operational interruptions for global majors, a risk premium likely hurting sentiment. Occidental, Chevron Stocks Slip. Iranian Officials Contacted U.S.
• Negative Sentiment: Large insider selling disclosed — recent multi-block sales by R. Hewitt Pate (Feb. 27 and Mar. 2) may have amplified near‑term profit‑taking and added to downward pressure on the share price. R. Hewitt Pate Sells 35,475 Shares of Chevron

Chevron Price Performance

The stock has a 50 day moving average of $171.08 and a 200-day moving average of $160.10. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $371.32 billion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 12.55 and a beta of 0.67.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.08. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The business had revenue of $45.79 billion during the quarter, compared to analyst estimates of $48.18 billion. During the same period in the previous year, the company posted $2.06 EPS. Chevron’s revenue was down 10.2% on a year-over-year basis. On average, equities research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be given a dividend of $1.78 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $7.12 annualized dividend and a yield of 3.8%. This is a boost from Chevron’s previous quarterly dividend of $1.71. Chevron’s payout ratio is presently 106.91%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CVX. Castellan Group boosted its holdings in Chevron by 10.7% in the second quarter. Castellan Group now owns 20,405 shares of the oil and gas company’s stock valued at $2,922,000 after purchasing an additional 1,965 shares during the last quarter. United Bank lifted its holdings in shares of Chevron by 7.7% in the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock valued at $1,586,000 after buying an additional 796 shares during the period. Schnieders Capital Management LLC. boosted its stake in shares of Chevron by 9.0% in the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock worth $7,280,000 after buying an additional 4,214 shares during the last quarter. Fullcircle Wealth LLC grew its holdings in Chevron by 5.5% during the second quarter. Fullcircle Wealth LLC now owns 12,395 shares of the oil and gas company’s stock worth $1,872,000 after acquiring an additional 648 shares during the period. Finally, Northcape Wealth Management LLC raised its position in Chevron by 13.5% during the second quarter. Northcape Wealth Management LLC now owns 4,023 shares of the oil and gas company’s stock valued at $576,000 after acquiring an additional 479 shares in the last quarter. Hedge funds and other 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.