Chevron (NYSE:CVX) Trading Down 3.6% – What’s Next?

Chevron Corporation (NYSE:CVX)’s stock price dropped 3.6% during mid-day trading on Monday . The stock traded as low as $177.76 and last traded at $180.4940. Approximately 10,159,668 shares were traded during trading, a decline of 14% from the average daily volume of 11,775,832 shares. The stock had previously closed at $187.22.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron received a Buy rating from Jefferies, which supports the stock’s longer-term outlook and suggests analysts still see value in the shares. Article Title
• Positive Sentiment: Chevron secured a strategic entry into Greece’s Offshore Block 10, expanding its exploration footprint in the Eastern Mediterranean and adding a potential growth avenue. Article Title
• Neutral Sentiment: Chevron’s CEO reiterated that the investment case is not just about oil prices, pointing investors toward dividends, cash flow, and portfolio strength rather than only near-term crude moves. Article Title
• Neutral Sentiment: Several articles noted Chevron is in a wait-and-see zone after a strong run, with investors watching cash flow and dividend durability as the stock trades below its recent peak. Article Title
• Negative Sentiment: Chevron is being hit by a fall in crude prices tied to easing Middle East supply tensions, which can reduce upstream earnings expectations for an integrated oil major. Article Title
• Negative Sentiment: Market commentary also points to a broader rotation out of Big Oil and into consumer stocks as fuel costs decline, adding near-term pressure on Chevron shares. Article Title
• Negative Sentiment: Recent coverage on California refiners showed profit margins expanding sharply, which could keep attention on the refining segment but also highlights volatile industry economics rather than a clear tailwind for CVX. Article Title

Analyst Ratings Changes

CVX has been the topic of several analyst reports. Morgan Stanley lifted their target price on Chevron from $212.00 to $214.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Weiss Ratings cut Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Citigroup boosted their price objective on Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Sanford C. Bernstein cut their price objective on Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a research report on Monday, May 11th. Finally, Wells Fargo & Company boosted their price objective on Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $205.70.

Chevron Stock Performance

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 $187.58 and a two-hundred day simple moving average of $178.90. The firm has a market cap of $353.40 billion, a PE ratio of 30.75, a PEG ratio of 0.59 and a beta of 0.48.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter in the prior year, the firm earned $2.18 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that Chevron Corporation will post 15.88 earnings per share for the current year.

Chevron Announces Dividend

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

Insiders Place Their Bets

In other news, insider R. Hewitt Pate sold 40,200 shares of the company’s stock in a transaction 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 transaction, the insider owned 8,638 shares of the company’s stock, valued at $1,842,485.40. This represents a 82.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hess sold 380,000 shares of the company’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 transaction, the director directly owned 278,045 shares in the company, valued at $53,718,294. This represents a 57.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 615,200 shares of company stock worth $118,022,760 in the last ninety days. Insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. United Bank lifted its holdings in Chevron by 7.7% during the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock worth $1,586,000 after purchasing an additional 796 shares in the last quarter. Schnieders Capital Management LLC. lifted its holdings in Chevron by 9.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock worth $7,280,000 after purchasing an additional 4,214 shares in the last quarter. BNP Paribas lifted its holdings in Chevron by 76.4% during the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock worth $63,000 after purchasing an additional 191 shares in the last quarter. Osterweis Capital Management Inc. lifted its holdings in Chevron by 678.9% during the 2nd quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock worth $195,000 after purchasing an additional 1,188 shares in the last quarter. Finally, Main Street Financial Solutions LLC increased its stake in Chevron by 3.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock worth $2,299,000 after acquiring an additional 553 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

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.