Chevron (NYSE:CVX) Stock Price Up 2.9% – Here’s What Happened

Shares of Chevron Corporation (NYSE:CVX) traded up 2.9% during mid-day trading on Wednesday . The stock traded as high as $191.86 and last traded at $191.7280. 11,295,591 shares were traded during trading, a decline of 7% from the average session volume of 12,190,876 shares. The stock had previously closed at $186.29.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is reported to be closing in on major oil production deals in Venezuela — such deals, if finalized, could restore sizeable long‑term volumes and cash flow for CVX. Read More.
• Positive Sentiment: Macro support from Middle East geopolitics: elevated risk around Iran and disruptions to shipping through the Strait of Hormuz have lifted oil prices, benefiting integrated producers like Chevron. Read More.
• Positive Sentiment: Dividend and shareholder signal: Chevron paid a $1.78 quarterly dividend (a ~4% raise), reinforcing income demand for CVX shares among dividend investors. Read More.
• Neutral Sentiment: Gulf of Mexico lease auction: Chevron was among the top spenders in a small US GOM oil & gas auction — a modest sign of near‑term investment but the round was small ($46.98M total bids). Read More.
• Neutral Sentiment: Brazil downstream interest reported: Chevron has been linked to talks for a stake in Ultrapar/Ipiranga — strategic but still at rumor/negotiation stage, so impact is uncertain. Read More.
• Negative Sentiment: Insider selling: a senior Chevron insider disclosed multiple recent sales (most recently ~47,200 shares), which some investors see as a cautionary signal even though sales can be routine. Read More.
• Negative Sentiment: Operational/geopolitical risk: reports of a possible suspension at the Leviathan gas field (offshore Israel) highlight regional production risk that could dent volumes if disruptions persist. Read More.
• Negative Sentiment: Oil‑price whipsaw and profit‑taking: de‑escalation headlines and false/mixed government statements have caused sharp intraday swings in crude, which has at times pressured CVX and led to relative underperformance vs. broader indices. Read More.

Wall Street Analyst Weigh In

Several analysts have weighed in on CVX shares. Melius Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a research note on Tuesday, February 17th. Wall Street Zen upgraded shares of Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. BMO Capital Markets reaffirmed an “outperform” rating and issued a $190.00 price target on shares of Chevron in a report on Monday, February 2nd. Morgan Stanley dropped their price objective on shares of Chevron from $180.00 to $174.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. Finally, Sanford C. Bernstein raised their target price on shares of Chevron from $170.00 to $172.00 and gave the stock a “market perform” rating in a report on Monday, January 5th. Thirteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $178.95.

Chevron Trading Up 2.9%

The firm’s fifty day moving average price is $174.83 and its 200-day moving average price is $161.29. The company has a market cap of $382.57 billion, a price-to-earnings ratio of 28.79, a P/E/G ratio of 1.91 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.

Chevron (NYSE:CVX) last released its quarterly earnings data 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. The business had revenue of $45.79 billion for the quarter, compared to analysts’ expectations of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.06 EPS. On average, equities analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were given a dividend of $1.78 per share. This is a boost from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Tuesday, February 17th. Chevron’s payout ratio is presently 106.91%.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 320,700 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $162.99, for a total value of $52,270,893.00. Following the sale, the chief executive officer directly owned 14,450 shares in the company, valued at $2,355,205.50. This trade represents a 95.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Eimear P. Bonner sold 32,100 shares of the business’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $175.01, for a total value of $5,617,821.00. Following the transaction, the chief financial officer owned 4,366 shares of the company’s stock, valued at $764,093.66. This trade represents a 88.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,099,397 shares of company stock valued at $196,196,468. 0.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chevron

Several large investors have recently bought and sold shares of CVX. Perigon Wealth Management LLC lifted its position in shares of Chevron by 19.3% in the 3rd quarter. Perigon Wealth Management LLC now owns 73,448 shares of the oil and gas company’s stock valued at $11,406,000 after acquiring an additional 11,875 shares in the last quarter. Brooklyn FI LLC purchased a new position in Chevron during the 3rd quarter worth approximately $431,000. New York State Teachers Retirement System raised its stake in Chevron by 15.3% during the 3rd quarter. New York State Teachers Retirement System now owns 1,620,231 shares of the oil and gas company’s stock valued at $251,606,000 after purchasing an additional 215,345 shares during the period. Finemark National Bank & Trust lifted its holdings in shares of Chevron by 40.3% in the third quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company’s stock valued at $8,779,000 after purchasing an additional 16,243 shares in the last quarter. Finally, Pictet North America Advisors SA purchased a new stake in shares of Chevron in the third quarter valued at $5,662,000. 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.