Chevron (NYSE:CVX) Stock Price Up 2.5% – Still a Buy?

Chevron Corporation (NYSE:CVX)’s stock price was up 2.5% during trading on Tuesday . The company traded as high as $217.78 and last traded at $217.5240. Approximately 9,537,538 shares changed hands during trading, a decline of 10% from the average daily volume of 10,578,358 shares. The stock had previously closed at $212.17.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Management is positioning Chevron for tighter oil markets. CEO Mike Wirth reportedly believes global spare-oil capacity has largely disappeared and is committing roughly $7 billion to production in a higher-risk oil region. The investment could provide significant upside if supply constraints keep crude prices elevated, although it increases geopolitical and execution exposure. Chevron’s CEO Thinks the World Is Out of Spare Oil. He Is Betting $7 Billion on Being Right.
• Positive Sentiment: Chevron is expanding its global LNG strategy. The company is evaluating gas and LNG opportunities in Argentina, the Mediterranean, Africa and Australia, while pursuing demand from emerging Asian markets and an LNG-related deal with India. Diversifying supply could strengthen long-term growth and benefit from renewed energy-security spending. Chevron eyes Argentina, Mediterranean for global LNG growth, deal with India
• Positive Sentiment: Higher oil prices and operating momentum are supporting the shares. Coverage highlights Chevron’s record production, strong cash generation and rising earnings estimates. The stock’s new 52-week high reflects investor confidence that constrained supply can improve upstream profitability. Chevron Sees Higher Oil Prices Ahead: Is It Set for More Upside?
• Neutral Sentiment: Chevron signed a technical consultancy agreement for Iraq’s West Qurna-2 oil field. The deal may create future growth or service opportunities, but it does not represent an immediate production or earnings increase. Chevron signs technical consultancy deal for Iraq’s huge West Qurna-2 oil field
• Negative Sentiment: Execution and geopolitical risks remain important. Chevron’s larger commitment to riskier oil regions and its continued uncertainty around Venezuela could lead to delays, regulatory complications or weaker-than-expected returns if conditions deteriorate. Chevron: Still Waiting For Clear Results From Venezuela

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CVX shares. Dbs Bank upgraded Chevron to a “moderate buy” rating in a research report on Thursday, August 6th. Wells Fargo & Company upped their target price on shares of Chevron from $226.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, September 3rd. Weiss Ratings raised shares of Chevron from a “hold (c)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Bank of America lifted their price target on shares of Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research report on Friday, July 10th. Twenty research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.35.

Chevron Stock Up 2.5%

The firm has a fifty day simple moving average of $196.40 and a 200 day simple moving average of $191.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The company has a market cap of $429.78 billion, a PE ratio of 20.86, a PEG ratio of 0.63 and a beta of 0.50.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same period in the prior year, the firm posted $1.77 EPS. The company’s revenue was up 57.4% on a year-over-year basis. Equities research analysts predict that Chevron Corporation will post 16.51 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were paid a dividend of $1.78 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.3%. Chevron’s payout ratio is currently 68.26%.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 317,100 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the completion of the sale, the chief executive officer owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. The trade was a 92.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew Walz sold 16,800 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the completion of the transaction, the insider owned 14 shares in the company, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,152,582 shares of company stock valued at $225,853,661. Corporate insiders own 0.56% of the company’s stock.

Institutional Trading of Chevron

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bullseye Investment Management LLC purchased a new position in shares of Chevron in the 2nd quarter valued at about $255,000. Keystone Financial Planning Inc. boosted its holdings in shares of Chevron by 228.8% in the 2nd quarter. Keystone Financial Planning Inc. now owns 81,844 shares of the oil and gas company’s stock valued at $13,566,000 after buying an additional 56,954 shares in the last quarter. Rench Wealth Management Inc. grew its holdings in shares of Chevron by 0.8% during the second quarter. Rench Wealth Management Inc. now owns 33,778 shares of the oil and gas company’s stock worth $5,599,000 after purchasing an additional 252 shares during the last quarter. Miramontes Capital LLC grew its stake in Chevron by 3.9% during the 2nd quarter. Miramontes Capital LLC now owns 15,410 shares of the oil and gas company’s stock worth $2,554,000 after buying an additional 581 shares during the last quarter. Finally, Core Capital Management & Research inc. acquired a new position in Chevron during the second quarter worth approximately $2,541,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

About Chevron

Chevron Corporation is an integrated energy company engaged in the exploration, production, transportation and sale of crude oil and natural gas. The company also manufactures and markets transportation fuels, lubricants, petrochemicals and additives through operations and brands that include Chevron, Texaco and Caltex.

Chevron’s upstream activities include oil and natural gas exploration and production, while its downstream business includes refining, fuel marketing, transportation and related energy services.