Chevron (NYSE:CVX) Trading Up 1.1% – Still a Buy?

Chevron Corporation (NYSE:CVX) traded up 1.1% during mid-day trading on Wednesday . The stock traded as high as $178.58 and last traded at $175.8940. Approximately 9,896,353 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 11,647,764 shares. The stock had previously closed at $174.01.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron signed a five-year gas supply agreement with Australia’s Alinta Energy, extending a long-running partnership and reinforcing demand for its Western Australia gas portfolio. Reuters: Chevron Australia signs five-year gas supply agreement with Alinta Energy
• Positive Sentiment: Chevron’s Microsoft power deal is being highlighted as a long-term growth driver, with the contract tied to rising AI/data center electricity demand and potentially adding a new cash-flow stream beyond oil. Yahoo Finance: Can Chevron’s Microsoft Partnership Power the Next Leg of Growth?
• Positive Sentiment: Chevron is licensing enhanced oil recovery and surfactant technology to ZL Chemicals, which could improve shale production and extend well life, supporting output and efficiency. Zacks: Chevron’s New Technology Licensing Deal to Boost Shale Oil Recovery
• Positive Sentiment: New Russia sanctions talk could tighten global energy flows by targeting countries that buy Russian oil and gas, which may support crude and natural gas pricing conditions for major producers like Chevron. Quiver Quant: Bipartisan Senators Reach Agreement With Trump Administration to Advance New Russia Sanctions Bill
• Positive Sentiment: UBS keeping a buy rating on Chevron adds to the bullish tone around the stock. The Globe and Mail: UBS Keeps Their Buy Rating on Chevron (CVX)
• Neutral Sentiment: Recent commentary also points to Chevron’s exposure to AI-related power demand and energy security themes, but these are still more long-term narrative drivers than near-term earnings catalysts. Zacks: Can Chevron’s Microsoft Partnership Power the Next Leg of Growth?
• Negative Sentiment: Any sanctions-related retaliation or disruption to global oil and gas trade could increase market volatility and uncertainty around future demand and pricing. Quiver Quant: Bipartisan Senators Reach Agreement With Trump Administration to Advance New Russia Sanctions Bill

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Sanford C. Bernstein decreased their target price on Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research report on Monday, May 11th. Weiss Ratings downgraded Chevron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Citigroup lifted their target price on shares of Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Morgan Stanley reduced their price target on shares of Chevron from $214.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $216.00 price target on shares of Chevron in a research note on Wednesday, May 6th. Nineteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $206.83.

Chevron Price Performance

The company has a 50-day moving average of $182.23 and a 200-day moving average of $181.32. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The stock has a market cap of $351.10 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 0.60 and a beta of 0.50.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 6.90% and a net margin of 5.79%.The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $2.18 EPS. As a group, equities research analysts predict that Chevron Corporation will post 15.28 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s payout ratio is currently 123.40%.

Insider Buying and Selling

In other news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value 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. This trade represents a 57.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Cornerstone Advisory LLC lifted its holdings in Chevron by 0.9% in the first quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company’s stock valued at $1,164,000 after acquiring an additional 52 shares during the period. Compton Financial Group LLC grew its stake in shares of Chevron by 1.9% during the 1st quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company’s stock worth $609,000 after purchasing an additional 56 shares during the period. Quantum Portfolio Management LLC increased its holdings in shares of Chevron by 2.7% in the 1st quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company’s stock valued at $435,000 after purchasing an additional 56 shares in the last quarter. Wealthspire Retirement LLC lifted its stake in shares of Chevron by 0.9% in the first quarter. Wealthspire Retirement LLC now owns 6,530 shares of the oil and gas company’s stock valued at $1,351,000 after purchasing an additional 56 shares during the period. Finally, D.B. Root & Company LLC lifted its stake in shares of Chevron by 1.0% in the fourth quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock valued at $846,000 after purchasing an additional 57 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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.