Chevron (NYSE:CVX) Trading Down 2.5% – Time to Sell?

Shares of Chevron Corporation (NYSE:CVX) fell 2.5% on Monday . The stock traded as low as $188.67 and last traded at $189.8420. 7,363,184 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 11,201,454 shares. The stock had previously closed at $194.79.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Bank of America favors Chevron over Exxon Mobil: BofA downgraded Exxon Mobil to Neutral while maintaining a Buy-rated view on Chevron, providing a relative endorsement of CVX’s valuation, portfolio and execution prospects. Exxon cut to Neutral at BofA, which favors Buy-rated Chevron
• Positive Sentiment: Dividend increase reinforces shareholder returns: Chevron raised its quarterly dividend, extending its decades-long record of dividend growth. The move supports the stock’s income appeal, although the benefit may be balanced against commodity-price volatility. Chevron lifts quarterly dividend
• Positive Sentiment: Potential expansion in Iraq: Chevron is evaluating opportunities involving Iraq’s large oil fields and export infrastructure. A broader upstream presence could add long-term production and reserve potential, though negotiations and geopolitical risks remain. Chevron Returns to Iraq
• Neutral Sentiment: Second-quarter earnings are the next major catalyst: Chevron is scheduled to report on July 31. Investors will focus on production, refining performance, cash flow, capital spending and management’s outlook, particularly after the company’s previous earnings beat but lower-than-expected revenue. Pre-Q2 Earnings: Is Chevron Stock a Buy, Hold, or Sell?
• Neutral Sentiment: Analysts remain divided: Wall Street’s outlook reflects Chevron’s strong balance sheet, dividend record and exposure to potentially high commodity prices, but also concerns about valuation and earnings sensitivity to oil and gas markets. Chevron stock: Is Wall Street bullish or bearish?
• Negative Sentiment: Lower oil prices pressured the sector: Crude prices fell sharply amid hopes for renewed U.S.-Iran negotiations, weighing on energy stocks and raising concerns about near-term upstream earnings and cash generation. Oil Prices Slide as Trump Touts Possible Negotiations With Iran
• Negative Sentiment: Geopolitical exposure remains a risk: Chevron’s discussions with U.S. officials about protecting its Kazakhstan assets highlight the strategic importance of those operations, but also their vulnerability to regional tensions and disruption. Chevron discussed Kazakhstan assets with U.S. officials

Analyst Ratings Changes

CVX has been the subject of several analyst reports. Zacks Research cut Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Bank of America lifted their price objective on shares of Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a research report on Tuesday. TD Cowen boosted their price objective on shares of Chevron from $197.00 to $200.00 and gave the company a “hold” rating in a research note on Wednesday, July 22nd. UBS Group reissued a “buy” rating on shares of Chevron in a research note on Tuesday, June 23rd. Finally, Piper Sandler assumed coverage on shares of Chevron in a research report on Thursday, July 23rd. They set an “overweight” rating and a $207.00 price objective for the company. Nineteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $206.04.

Chevron Price Performance

The company has a market cap of $383.32 billion, a price-to-earnings ratio of 33.34, a PEG ratio of 0.63 and a beta of 0.50. The company has a 50-day simple moving average of $181.80 and a 200-day simple moving average of $184.43. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. During the same period last year, the firm earned $2.18 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, research analysts predict that Chevron Corporation will post 15.6 earnings per share for the current year.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction 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 owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This trade 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 the SEC website. Company insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Chevron

Large investors have recently made changes to their positions in the stock. Curtis Advisory Group LLC purchased a new stake in shares of Chevron during the fourth quarter valued at $1,381,000. Indivisible Partners purchased a new position in Chevron in the 4th quarter worth about $1,923,000. Janney Montgomery Scott LLC increased its stake in Chevron by 6.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company’s stock worth $258,853,000 after buying an additional 79,439 shares during the period. Galaxy Digital Inc. bought a new stake in Chevron during the 1st quarter valued at about $2,028,000. Finally, Nations Financial Group Inc. IA ADV lifted its holdings in Chevron by 35.0% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 42,882 shares of the oil and gas company’s stock valued at $6,536,000 after buying an additional 11,120 shares in the last quarter. Hedge funds and other institutional investors 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.