Chevron (NYSE:CVX) Shares Up 1.1% – Should You Buy?

Chevron Corporation (NYSE:CVX)’s stock price rose 1.1% during mid-day trading on Friday . The stock traded as high as $202.24 and last traded at $202.04. Approximately 5,245,144 shares were traded during mid-day trading, a decline of 51% from the average session volume of 10,728,297 shares. The stock had previously closed at $199.77.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is reportedly in talks to invest billions of dollars in Venezuelan oil fields and add two heavy-oil fields to its existing portfolio. The company already accounts for roughly one-quarter of Venezuela’s oil production, giving it an established operating position that could help it benefit from increased access to the country’s vast reserves. Chevron, Other U.S. Firms Near Deal to Invest Billions in Venezuelan Oil Fields
• Positive Sentiment: Reports of the potential Venezuela deals have already supported CVX shares, reinforcing expectations that Chevron could gain access to incremental production and long-term reserves if the agreements are completed. Halliburton is also reportedly negotiating a related investment, adding credibility to the broader reopening opportunity. Chevron stock rises on report of Venezuela oil deal talks
• Positive Sentiment: A reported new oil find in Angola has further improved the company’s exploration narrative and helped push shares toward their recent high, although the ultimate production and financial benefits will depend on development timelines. Chevron stock nears a record high after new Angola oil find
• Neutral Sentiment: Chevron’s investments in nuclear-fusion technology could eventually diversify its revenue base and provide exposure to low-carbon power, but the projects remain early-stage and have uncertain commercial timelines. What Does Chevron Want From Its Nuclear Fusion Push?
• Negative Sentiment: Investors should also weigh the risks surrounding Venezuela, including sanctions, political instability, regulatory approval and the cost of developing heavy-oil assets. Chevron’s dividend remains an attraction, but its cash flow is exposed to commodity-price swings, which could make the payout more vulnerable during a prolonged oil downturn. Chevron or PepsiCo: Whose Dividend Is Standing on Thinner Ice?

Analysts Set New Price Targets

A number of research firms have recently issued reports on CVX. Bank of America increased their target price on Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. The Goldman Sachs Group reissued a “buy” rating and issued a $216.00 price target on shares of Chevron in a research note on Wednesday, May 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $216.00 target price on shares of Chevron in a research report on Friday, July 10th. Royal Bank Of Canada restated an “outperform” rating and issued a $220.00 price target on shares of Chevron in a research report on Tuesday, May 5th. Finally, Weiss Ratings raised shares of Chevron from a “hold (c)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Twenty research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $207.48.

Chevron Stock Up 1.1%

The business has a 50-day simple moving average of $186.87 and a 200-day simple moving average of $188.76. The company has a market cap of $399.18 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 0.60 and a beta of 0.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25.

Chevron (NYSE:CVX) last released its earnings results 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 return on equity of 11.09% and a net margin of 9.57%.The firm had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. During the same period in the prior year, the business posted $1.77 earnings per share. The firm’s revenue for the quarter was up 57.4% compared to the same quarter last year. On average, equities analysts anticipate that Chevron Corporation will post 16.17 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron’s dividend payout ratio is 68.26%.

Insider Activity at Chevron

In other news, insider R. Hewitt Pate sold 2,470 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total transaction of $506,621.70. Following the completion of the transaction, the insider directly owned 10,794 shares in the company, valued at $2,213,957.34. This trade represents a 18.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael K. Wirth sold 317,100 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $200.46, for a total value of $63,565,866.00. Following the completion of the transaction, the chief executive officer directly owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. This represents a 92.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,152,582 shares of company stock worth $225,853,661 over the last three months. 0.56% of the stock is owned by insiders.

Hedge Funds Weigh In On Chevron

Hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System increased its position in shares of Chevron by 19,425.5% during the 2nd quarter. California State Teachers Retirement System now owns 432,663,934 shares of the oil and gas company’s stock worth $71,718,374,000 after purchasing an additional 430,448,040 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Chevron in the second quarter worth $25,663,729,000. State Street Corp increased its holdings in shares of Chevron by 9.1% during the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after purchasing an additional 12,789,399 shares during the period. Berkshire Hathaway Inc lifted its stake in Chevron by 6.6% during 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. Finally, Geode Capital Management LLC increased its stake in shares of Chevron by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock worth $6,620,187,000 after purchasing an additional 134,890 shares during the last quarter. Institutional investors and hedge funds 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.