Chevron Corporation (CVX) – What Are Researchers Thinking About This Stock?

Chevron Corporation (NYSE:CVX) has received an average recommendation of “Moderate Buy” from the twenty-eight analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $213.96.

A number of analysts recently weighed in on the stock. Mizuho set a $234.00 price target on shares of Chevron in a research report on Monday, October 12th. Piper Sandler raised their price objective on Chevron from $207.00 to $243.00 and gave the company an “overweight” rating in a research report on Thursday, September 3rd. Wolfe Research upgraded Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a research note on Thursday, July 2nd. Sanford C. Bernstein upped their target price on Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. Finally, Morgan Stanley raised their target price on Chevron from $218.00 to $226.00 and gave the company an “overweight” rating in a report on Thursday, October 15th.

Chevron Trading Down 0.2%

Shares of CVX stock opened at $224.53 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Chevron has a fifty-two week low of $146.49 and a fifty-two week high of $225.67. The firm’s 50 day moving average price is $208.18 and its two-hundred day moving average price is $193.52. The stock has a market cap of $443.62 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 0.61 and a beta of 0.53.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.51. The company had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.77 earnings per share. On average, analysts anticipate that Chevron will post 17.71 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 68.26%.

Insider Activity

In other news, CEO Michael K. Wirth sold 317,100 shares of Chevron 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 sale, the chief executive officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Hess sold 100,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $194.26, for a total value of $19,426,000.00. Following the completion of the transaction, the director owned 178,045 shares in the company, valued at approximately $34,587,021.70. This trade represents a 35.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,152,582 shares of company stock valued at $225,853,661 in the last 90 days. Company insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp raised its stake in shares of Chevron by 3.9% during the 2nd quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company’s stock worth $28,016,651,000 after purchasing an additional 5,998,852 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Chevron in the 2nd quarter valued at approximately $25,663,729,000. Berkshire Hathaway Inc grew its stake in shares of Chevron by 6.6% in the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock valued at $19,837,131,000 after buying an additional 8,091,570 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Chevron by 5.1% in the first quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company’s stock valued at $5,716,694,000 after buying an additional 1,334,976 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Chevron by 1.5% in the fourth quarter. Invesco Ltd. now owns 17,119,575 shares of the oil and gas company’s stock valued at $2,609,194,000 after buying an additional 254,323 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil prices are supporting the stock. Brent crude rose above $110 per barrel to a five-month high as renewed U.S.-Israeli threats against Iran increased concerns about Middle Eastern supply disruptions. Higher crude prices can improve Chevron’s upstream cash flow and earnings. Chevron and ExxonMobil Stocks Hit 52-Week Highs as Fresh US-Israel Threats Against Iran Push Brent Crude to 5-Month Highs
• Positive Sentiment: Analysts are raising earnings estimates. Chevron is being highlighted for improving earnings revisions, Permian production and efficiency gains, disciplined capital spending, and exposure to rising crude prices. These factors could support near-term investor sentiment ahead of its October 30 third-quarter report. Earnings Estimates Moving Higher for Chevron
• Positive Sentiment: Longer-term growth opportunities are attracting buyers. Coverage points to potential benefits from deals involving Venezuela and Greece, spare refining capacity, and faster growth than ExxonMobil despite Chevron’s smaller scale. Citadel also reportedly increased its Chevron stake by 146% in the second quarter, adding to institutional-investor interest. Chevron Just Hit a Record High. Is the Stock Still a Buy?
• Neutral Sentiment: Macro uncertainty remains. Chevron CEO Mike Wirth disputed Treasury Secretary Scott Bessent’s assessment of how the economy is absorbing energy-price shocks, suggesting investors should watch for changing demand and inflation effects as the Iran conflict influences global markets. Chevron CEO Disagrees with Scott Bessent’s Take on the Economy
• Negative Sentiment: Valuation and geopolitical risks could limit further gains. With CVX near a record level, some of the benefit from higher oil prices may already be reflected in the share price. A reduction in regional tensions, weaker crude prices or disappointing third-quarter results could pressure the stock.

About Chevron

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.