Chevron (NYSE:CVX) Stock Price Down 1.3% After Analyst Downgrade

Shares of Chevron Corporation (NYSE:CVX) fell 1.3% during mid-day trading on Tuesday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The stock traded as low as $185.47 and last traded at $186.7790. 7,808,671 shares were traded during mid-day trading, a decline of 34% from the average session volume of 11,851,628 shares. The stock had previously closed at $189.24.

A number of other brokerages have also recently commented on CVX. Weiss Ratings cut Chevron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Scotiabank raised their target price on Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $216.00 target price on shares of Chevron in a report on Wednesday, May 6th. TD Cowen raised their target price on Chevron from $204.00 to $205.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $220.00 target price on shares of Chevron in a report on Tuesday, May 5th. Eighteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.70.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director owned 278,045 shares in the company, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The transaction 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 Chevron stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the transaction, the insider owned 8,638 shares of the company’s stock, valued at approximately $1,842,485.40. This represents a 82.31% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 615,200 shares of company stock valued at $118,022,760. Company insiders own 0.56% of the company’s stock.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Analysts highlighted Chevron’s Tengiz (TCO) project expansion, which is lifting output capacity to 1 million BOE/d and could drive higher cash flow, production growth, and shareholder returns through 2030. How Investment in TCO Is Powering Chevron’s Next Wave of Cash Growth
• Positive Sentiment: Chevron is being discussed favorably as a dividend and retirement stock, reinforcing its appeal to income investors and supporting demand for the shares. Brent Oil Just Fell Below $90 a Barrel. 3 Top Oil Stocks to Buy Now.
• Positive Sentiment: Market commentary says Chevron’s stock has shown strength recently, with improving technical and valuation signals suggesting the shares may be building toward a breakout. Chevron (CVX) Price Forecast: Bullish Signals Build Toward Breakout
• Positive Sentiment: Broker coverage remained constructive overall, with consensus still at “Moderate Buy,” which can help reinforce investor confidence. Chevron Corporation (NYSE:CVX) Receives Consensus Rating of “Moderate Buy” from Brokerages
• Neutral Sentiment: Chevron’s CFO was featured in an article about AI and finance, which is more of a strategic business profile than a direct stock catalyst. Chevron’s CFO on why finance chiefs are defining AI’s business value
• Neutral Sentiment: Coverage on Chevron’s Guyana and Argentina projects reinforces the company’s upstream growth story, but these pieces are more thematic than immediately market-moving. ExxonMobil and Chevron Reported a Combined $7.6 Billion Profit in Guyana Last Year. What Energy Investors Need to Know.
• Negative Sentiment: Chevron was downgraded by Zacks Research from “strong-buy” to “hold,” a small negative for sentiment, though it does not appear to reflect a major change in fundamentals. How Investment in TCO Is Powering Chevron’s Next Wave of Cash Growth

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. United Bank grew its holdings in shares of Chevron by 7.7% during the second 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 last quarter. Schnieders Capital Management LLC. grew its holdings in shares of Chevron by 9.0% during the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock valued at $7,280,000 after buying an additional 4,214 shares during the last quarter. BNP Paribas grew its holdings in shares of Chevron by 76.4% during the second quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock valued at $63,000 after buying an additional 191 shares during the last quarter. Osterweis Capital Management Inc. grew its holdings in shares of Chevron by 678.9% during the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock valued at $195,000 after buying an additional 1,188 shares during the last quarter. Finally, Main Street Financial Solutions LLC grew its holdings in shares of Chevron by 3.6% during the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock valued at $2,299,000 after buying an additional 553 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 2.1%

The stock has a market capitalization of $370.05 billion, a PE ratio of 32.20, a price-to-earnings-growth ratio of 0.62 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The business’s fifty day moving average price is $189.38 and its two-hundred day moving average price is $177.75.

Chevron (NYSE:CVX) last posted its quarterly 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 for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.18 earnings per share. On average, equities research analysts forecast that Chevron Corporation will post 15.74 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio is 123.40%.

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.