Chevron (NYSE:CVX) Trading 2.9% Higher – Still a Buy?

Shares of Chevron Corporation (NYSE:CVX) were up 2.9% on Wednesday . The company traded as high as $191.86 and last traded at $191.7280. Approximately 11,295,591 shares were traded during trading, a decline of 7% from the average daily volume of 12,190,876 shares. The stock had previously closed at $186.29.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is reported to be closing in on major oil production deals in Venezuela — such deals, if finalized, could restore sizeable long‑term volumes and cash flow for CVX. Read More.
• Positive Sentiment: Macro support from Middle East geopolitics: elevated risk around Iran and disruptions to shipping through the Strait of Hormuz have lifted oil prices, benefiting integrated producers like Chevron. Read More.
• Positive Sentiment: Dividend and shareholder signal: Chevron paid a $1.78 quarterly dividend (a ~4% raise), reinforcing income demand for CVX shares among dividend investors. Read More.
• Neutral Sentiment: Gulf of Mexico lease auction: Chevron was among the top spenders in a small US GOM oil & gas auction — a modest sign of near‑term investment but the round was small ($46.98M total bids). Read More.
• Neutral Sentiment: Brazil downstream interest reported: Chevron has been linked to talks for a stake in Ultrapar/Ipiranga — strategic but still at rumor/negotiation stage, so impact is uncertain. Read More.
• Negative Sentiment: Insider selling: a senior Chevron insider disclosed multiple recent sales (most recently ~47,200 shares), which some investors see as a cautionary signal even though sales can be routine. Read More.
• Negative Sentiment: Operational/geopolitical risk: reports of a possible suspension at the Leviathan gas field (offshore Israel) highlight regional production risk that could dent volumes if disruptions persist. Read More.
• Negative Sentiment: Oil‑price whipsaw and profit‑taking: de‑escalation headlines and false/mixed government statements have caused sharp intraday swings in crude, which has at times pressured CVX and led to relative underperformance vs. broader indices. Read More.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Morgan Stanley decreased their price objective on Chevron from $180.00 to $174.00 and set an “overweight” rating for the company in a research report on Friday, January 23rd. Melius Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $205.00 price target for the company in a research report on Tuesday, February 17th. Sanford C. Bernstein raised their price target on shares of Chevron from $170.00 to $172.00 and gave the stock a “market perform” rating in a report on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research report on Wednesday, January 21st. Finally, Scotiabank reiterated a “sector perform” rating and issued a $168.00 price objective on shares of Chevron in a research note on Friday, January 16th. Thirteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Chevron currently has an average rating of “Hold” and a consensus price target of $178.95.

Chevron Price Performance

The company has a market capitalization of $382.57 billion, a PE ratio of 28.79, a P/E/G ratio of 1.91 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.15. The stock has a 50 day moving average price of $174.83 and a two-hundred day moving average price of $161.29.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.44 by $0.08. The business had revenue of $45.79 billion during the quarter, compared to analysts’ expectations of $48.18 billion. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.06 EPS. Equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were paid a dividend of $1.78 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date was Tuesday, February 17th. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. Chevron’s dividend payout ratio (DPR) is currently 106.91%.

Insider Buying and Selling at Chevron

In related news, insider R. Hewitt Pate sold 58,000 shares of Chevron stock in a transaction on Monday, March 2nd. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the completion of the sale, the insider owned 11,337 shares of the company’s stock, valued at $2,130,449.04. This represents a 92.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,099,397 shares of company stock worth $196,196,468 over the last quarter. Company insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Chevron by 17.9% during the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock valued at $28,540,753,000 after purchasing an additional 27,961,463 shares during the last quarter. Norges Bank acquired a new stake in shares of Chevron in the fourth quarter worth $3,727,586,000. State Street Corp boosted its holdings in shares of Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after buying an additional 12,789,399 shares during the period. Berkshire Hathaway Inc boosted its holdings in shares of Chevron by 6.6% during the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after buying an additional 8,091,570 shares during the period. Finally, Primecap Management Co. CA acquired a new position in Chevron in the 3rd quarter valued at $988,083,000. 72.42% of the stock is owned by institutional investors.

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.