Chevron (NYSE:CVX) Trading Up 1.4% – Here’s What Happened

Chevron Corporation (NYSE:CVX) traded up 1.4% during mid-day trading on Thursday . The stock traded as high as $202.44 and last traded at $201.35. 16,896,938 shares changed hands during mid-day trading, an increase of 34% from the average session volume of 12,643,740 shares. The stock had previously closed at $198.61.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Analyst optimism — Mizuho published a bullish forecast for Chevron, citing upside to the stock that supports investor demand. Read More.
• Positive Sentiment: Analyst optimism — Barclays also issued a forecast calling for strong price appreciation for CVX, reinforcing the buy-side narrative. Read More.
• Positive Sentiment: Strategic tech investment — Chevron Technology Ventures joined a funding round for KEWAZO, a heavy-industry robotics firm, signaling CVX’s push into efficiency and industrial automation that could lower operating costs long term. Read More.
• Positive Sentiment: M&A expansion — Reports say Chevron is in advanced talks to acquire a 30% stake in Ultrapar’s Ipiranga, expanding its retail/fuel presence in Brazil and adding growth optionality in a high-potential market. Read More.
• Positive Sentiment: Upside from new production deals — Analysts and commentators note Chevron could see meaningful upside if it secures additional oil access in Venezuela, a deal that would boost medium?term production prospects. Read More.
• Neutral Sentiment: Dividend profile and risk commentary — Coverage highlights Chevron’s long dividend-growth streak and strong payouts, while also noting management warnings about geopolitical risks (Iran/Strait of Hormuz) that could both lift commodity prices and add volatility. Read More.
• Neutral Sentiment: Retail / sentiment pieces — Market commentary and “if you invested” return stories show increased retail interest and extra visibility for CVX, which can amplify intraday moves but don’t change fundamentals by themselves. Read More.
• Neutral Sentiment: Trending / watchlist mentions — Zacks and other outlets note CVX is a trending stock, reflecting higher attention from investors and analysts; this supports volume but is neutral on long-term valuation. Read More.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Chevron from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. JPMorgan Chase & Co. upgraded shares of Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 price target on the stock in a research note on Tuesday, January 20th. Piper Sandler raised their price target on shares of Chevron from $179.00 to $242.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Jefferies Financial Group raised their target price on Chevron from $174.00 to $189.00 and gave the stock a “buy” rating in a report on Wednesday, January 14th. Finally, Sanford C. Bernstein lifted their price objective on shares of Chevron from $170.00 to $172.00 and gave the company a “market perform” rating in a report on Monday, January 5th. Thirteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $183.18.

Chevron Price Performance

The company has a market capitalization of $401.77 billion, a PE ratio of 30.23, a price-to-earnings-growth ratio of 1.83 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86. The stock’s 50 day simple moving average is $179.68 and its 200-day simple moving average is $162.85.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The firm had revenue of $45.79 billion for the quarter, compared to analyst estimates of $48.18 billion. During the same period in the prior year, the firm earned $2.06 earnings per share. The business’s quarterly revenue was down 10.2% compared to the same quarter last year. As a group, equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were issued a dividend of $1.78 per share. This is an increase from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, February 17th. Chevron’s dividend payout ratio is currently 106.91%.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 272,624 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $189.35, for a total transaction of $51,621,354.40. Following the completion of the transaction, the chief executive officer owned 31,266 shares of the company’s stock, valued at approximately $5,920,217.10. This represents a 89.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider R. Hewitt Pate sold 47,200 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $192.12, for a total transaction of $9,068,064.00. Following the completion of the transaction, the insider owned 8,558 shares in the company, valued at $1,644,162.96. This represents a 84.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,099,397 shares of company stock worth $196,196,468. 0.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Core Wealth Advisors LLC acquired a new position in Chevron during the fourth quarter worth approximately $26,000. Phillip James Consulting Co. bought a new stake in shares of Chevron during the 4th quarter worth about $26,000. Basso Capital Management L.P. acquired a new stake in Chevron during the fourth quarter worth approximately $27,000. Karpus Management Inc. bought a new stake in shares of Chevron during the fourth quarter worth approximately $27,000. Finally, Quattro Advisors LLC bought a new position in shares of Chevron during the fourth quarter worth approximately $27,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Company Profile

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.