Chevron (NYSE:CVX) Shares Up 1.2% – Here’s What Happened

Chevron Corporation (NYSE:CVX)’s stock price rose 1.2% during mid-day trading on Tuesday . The stock traded as high as $187.94 and last traded at $187.7660. Approximately 8,843,145 shares changed hands during trading, a decline of 9% from the average daily volume of 9,754,650 shares. The stock had previously closed at $185.5790.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s Argentina growth plans are drawing attention after the company applied for the country’s tax incentive program tied to a proposed $13.8 billion Vaca Muerta oil project. The move signals a major long-term investment in one of the world’s largest shale plays and could expand Chevron’s production base if approved. Reuters article
• Positive Sentiment: Wall Street commentary has turned more constructive on Chevron (CVX), with reports noting bullish analyst views and a higher price target from Barclays. That kind of sentiment often helps investors view the stock as undervalued relative to its cash generation and dividend profile. Yahoo Finance article
• Positive Sentiment: Chevron was also highlighted in a piece on high-yield dividend stocks, reinforcing its appeal to income-focused investors. With its steady payout and integrated business model, CVX continues to be seen as a defensive energy name. Blockonomi article
• Positive Sentiment: A broader feature on energy stocks tied to the AI power boom argued that Chevron could benefit from rising electricity demand through long-term gas supply relationships and its large-scale energy infrastructure. That supports the view that CVX has exposure beyond just oil prices. MarketBeat feature
• Neutral Sentiment: Recent governance and leadership updates, including the planned legal chief transition and shareholder votes on proposals, appear to confirm continuity rather than create a major new catalyst for the stock. Yahoo Finance article

Analysts Set New Price Targets

Several brokerages have weighed in on CVX. Morgan Stanley raised their price objective on Chevron from $212.00 to $214.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Weiss Ratings lowered shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Wells Fargo & Company increased their target price on shares of Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Mizuho raised their price target on shares of Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $216.00 price target on shares of Chevron in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and an average target price of $205.70.

Chevron Stock Performance

The firm has a market cap of $378.41 billion, a PE ratio of 32.93, a PEG ratio of 0.62 and a beta of 0.48. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company has a 50-day simple moving average of $191.38 and a two-hundred day simple moving average of $176.53.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.41. The firm had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $2.18 EPS. As a group, equities research analysts forecast that Chevron Corporation will post 15.74 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is 123.40%.

Insider Activity

In other news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the sale, the director owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the sale, the insider directly owned 8,638 shares in the company, valued at $1,842,485.40. This trade represents a 82.31% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 662,400 shares of company stock worth $127,090,824. Insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Chevron

Institutional investors and hedge funds have recently bought and sold shares of the company. Midwest Capital Advisors LLC purchased a new stake in Chevron in the 1st quarter worth about $25,000. Main Street Group LTD purchased a new stake in Chevron during the first quarter valued at about $28,000. Phillip James Consulting Co. bought a new position in Chevron during the fourth quarter worth about $26,000. Core Wealth Advisors LLC bought a new position in Chevron during the fourth quarter worth about $26,000. Finally, Karpus Management Inc. purchased a new position in shares of Chevron in the fourth quarter worth about $27,000. 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.