Chevron (NYSE:CVX) Trading 2.6% Higher – Still a Buy?

Chevron Corporation (NYSE:CVX) traded up 2.6% on Monday . The stock traded as high as $196.20 and last traded at $196.0820. 9,786,259 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 12,276,162 shares. The stock had previously closed at $191.10.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to sell some Asia-Pacific assets to Japan’s ENEOS for about $2.2 billion, a move that should streamline the company’s portfolio and add cash while reinforcing the market’s view that management is focusing on higher-return assets. Chevron to Divest Some Asia-Pacific Assets to Japan’s Eneos
• Positive Sentiment: Chevron CEO Mike Wirth’s warning about possible physical oil shortages has added to the bullish backdrop for energy stocks, since tighter crude supplies can support oil prices and improve upstream profitability for Chevron. Chevron’s CEO Just Warned of Physical Oil Shortages
• Positive Sentiment: Traders also piled into Chevron call options at more than double the normal volume, which can signal rising expectations for further upside in the shares.
• Neutral Sentiment: Chevron is also being highlighted in market commentary as a trending and closely watched stock, reflecting heightened investor interest rather than a direct change in fundamentals. Chevron Corporation (CVX) Is a Trending Stock
• Neutral Sentiment: Analyst-focused coverage on Chevron’s valuation and dividend appeal may be supporting the stock, but the article itself does not indicate a new rating change or fresh catalyst. Is Chevron (CVX) a Buy as Wall Street Analysts Look Optimistic?
• Neutral Sentiment: A broader energy-sector piece on Shell’s LNG strength is mostly industry context, but it can reinforce optimism around the sector as a whole. How Shell’s LNG Strength May Position It for Higher Returns Ahead

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CVX shares. Piper Sandler raised their price target on shares of Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. JPMorgan Chase & Co. raised shares of Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 price objective for the company in a research report on Tuesday, January 20th. UBS Group raised their target price on shares of Chevron from $218.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Zacks Research raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 3rd. Finally, BNP Paribas Exane upgraded Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target for the company in a report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $204.13.

Chevron Price Performance

The company has a market cap of $390.52 billion, a price-to-earnings ratio of 33.98, a P/E/G ratio of 0.64 and a beta of 0.51. The company’s 50-day simple moving average is $193.14 and its 200-day simple moving average is $173.38. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.18 earnings per share. On average, equities research analysts anticipate that Chevron Corporation will post 15.43 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron’s dividend payout ratio is presently 123.40%.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 272,624 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $189.35, for a total value of $51,621,354.40. Following the transaction, the chief executive officer owned 31,266 shares in the company, valued at approximately $5,920,217.10. The trade was a 89.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andrew Benjamin Walz sold 11,600 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $188.58, for a total value of $2,187,528.00. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 803,570 shares of company stock valued at $151,969,798. 0.56% of the stock is currently owned by insiders.

Institutional Trading of Chevron

Institutional investors have recently added to or reduced their stakes in the stock. Midwest Capital Advisors LLC acquired a new stake in shares of Chevron in the 1st quarter valued at about $25,000. Main Street Group LTD acquired a new position in Chevron in the first quarter worth about $28,000. Phillip James Consulting Co. bought a new stake in Chevron in the fourth quarter valued at about $26,000. Core Wealth Advisors LLC bought a new stake in Chevron in the fourth quarter valued at about $26,000. Finally, Karpus Management Inc. acquired a new stake in Chevron during the fourth quarter valued at approximately $27,000. 72.42% of the stock is owned by institutional investors and hedge funds.

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.