Chevron (NYSE:CVX) Stock Price Down 2.4% – Here’s Why

Shares of Chevron Corporation (NYSE:CVX) dropped 2.4% during trading on Wednesday . The stock traded as low as $170.86 and last traded at $171.7320. Approximately 10,368,702 shares traded hands during mid-day trading, a decline of 11% from the average daily volume of 11,705,406 shares. The stock had previously closed at $175.98.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s 20-year power deal with Microsoft for a 2.67-gigawatt natural gas facility in West Texas positions the company as a key supplier of electricity for AI data centers and could create a long-duration growth opportunity. Chevron and Microsoft Partner on Landmark Texas AI Power Project
• Positive Sentiment: Texas Pacific Land agreed to provide land and water support for Chevron’s large-scale power project, reducing development hurdles and strengthening Project Kilby’s execution prospects. Texas Pacific Land Partners with Chevron on Data Center Project
• Positive Sentiment: Analysts and media coverage highlight Chevron’s move into AI infrastructure as a potentially underappreciated earnings driver, with natural gas power economics seen as favorable for the project. Chevron’s Microsoft Power Deal Highlights ‘Underappreciated’ Fuel Cost Economics, UBS Securities Says
• Neutral Sentiment: Chevron is gaining visibility as an AI energy supplier, but the investment case still depends on how quickly the project scales and whether returns justify the capital spend. Has Chevron Found a New Growth Platform?
• Negative Sentiment: At the same time, weaker crude prices and commentary about possible DOJ scrutiny of Big Oil gasoline pricing are weighing on sentiment across the sector, including CVX. CVX, XOM, COP Slip Overnight As Trump Orders DOJ Probe Into Big Oil’s Gasoline Prices
• Negative Sentiment: Some recent market commentary remains cautious, arguing that falling oil prices could pressure Chevron’s valuation despite its strong balance sheet and dividend profile. Prediction: Chevron Could See a 13% Drop as Oil Slips

Analyst Ratings Changes

Several equities research analysts recently issued reports on CVX shares. BNP Paribas Exane raised shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price objective for the company in a research note on Friday, April 17th. Wells Fargo & Company increased their target price on shares of Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Morgan Stanley raised their target price on Chevron from $212.00 to $214.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Mizuho boosted their price target on Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Finally, Bank of America upped their price target on Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Eighteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus price target of $205.70.

Chevron Stock Down 2.4%

The stock has a market cap of $342.02 billion, a P/E ratio of 29.76, a P/E/G ratio of 0.57 and a beta of 0.48. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The firm’s fifty day moving average is $186.07 and its 200 day moving average is $179.55.

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

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were issued a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 4.1%. Chevron’s dividend payout ratio (DPR) is 123.40%.

Insider Buying and Selling

In other news, Director John B. Hess sold 380,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the sale, the director directly owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider R. Hewitt Pate sold 40,200 shares of the firm’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 completion of the sale, the insider owned 8,638 shares in the company, valued at approximately $1,842,485.40. The trade was a 82.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 615,200 shares of company stock valued at $118,022,760. Corporate insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. United Bank raised its stake in shares of Chevron by 7.7% in the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock valued at $1,586,000 after buying an additional 796 shares in the last quarter. Schnieders Capital Management LLC. boosted its position in shares of 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 valued at $7,280,000 after acquiring an additional 4,214 shares in the last quarter. BNP Paribas boosted its position in shares of Chevron by 76.4% during the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock valued at $63,000 after acquiring an additional 191 shares in the last quarter. Osterweis Capital Management Inc. increased its stake in Chevron by 678.9% in the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock valued at $195,000 after acquiring an additional 1,188 shares during the period. Finally, Main Street Financial Solutions LLC increased its stake in Chevron by 3.6% in the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock valued at $2,299,000 after acquiring an additional 553 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

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.