Chevron (NYSE:CVX) Trading Down 1.8% – Here’s What Happened

Chevron Corporation (NYSE:CVX) was down 1.8% during trading on Monday . The company traded as low as $191.81 and last traded at $193.1920. 9,532,204 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 11,113,914 shares. The stock had previously closed at $196.83.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is being highlighted among S&P 500 companies expected to generate the most free cash flow this year, supporting its ability to fund dividends, buybacks and debt reduction. 9 Stocks’ Cash Flow Seen Blowing The Doors Off The S&P 500
• Positive Sentiment: Recent second-quarter results showed revenue of approximately $70.1 billion and net income of $12.1 billion, helped by higher production, cost reductions and elevated refining margins. Chevron maintained its $1.78 quarterly dividend. Should Chevron’s War-Boosted Margins and Cash Flows Prompt a Portfolio Rethink?
• Positive Sentiment: TD Cowen raised its Chevron price target from $200 to $205 while maintaining a Hold rating, implying additional upside based on the cited reference price. Bernstein and Barclays analysts also reportedly expect the stock to rise. TD Cowen Raises Chevron Price Target
• Neutral Sentiment: CEO Mike Wirth said Chevron is evaluating a pipeline route through Iraq toward Syria or Turkey to bypass the Strait of Hormuz. The project could improve future logistics resilience, but it remains exploratory and carries substantial geopolitical and execution risks. Chevron CEO Evaluates New Pipeline Route Around Strait of Hormuz
• Negative Sentiment: President Donald Trump criticized Chevron and ExxonMobil for earning “too much money” during the Iran-related energy shock and urged them to reduce retail fuel prices or return some profits to the public. The comments raise policy, reputational and potential margin risks, although refiners say they have limited ability to quickly increase fuel supply. Trump Rips Exxon, Chevron for Making Too Much Money
• Negative Sentiment: The political backlash could intensify if gasoline prices remain elevated, potentially prompting calls for price controls, windfall-profit measures or other intervention. That risk appears to be offsetting some of the benefit from Chevron’s earnings and cash-flow strength.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CVX. Weiss Ratings downgraded shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Sanford C. Bernstein boosted their target price on Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a report on Monday. Mizuho set a $224.00 target price on Chevron in a research report on Monday. Royal Bank Of Canada restated an “outperform” rating and set a $220.00 price target on shares of Chevron in a research note on Tuesday, May 5th. Finally, Wells Fargo & Company raised 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. Eighteen 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $207.48.

Chevron Price Performance

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The firm has a market capitalization of $371.40 billion, a PE ratio of 17.88, a P/E/G ratio of 0.60 and a beta of 0.49. The company has a 50-day moving average price of $182.09 and a 200-day moving average price of $185.49.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. Chevron had a return on equity of 11.14% and a net margin of 9.57%.The firm had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same period last year, the company earned $1.77 EPS. The firm’s quarterly revenue was up 57.4% on a year-over-year basis. Sell-side analysts forecast that Chevron Corporation will post 15.66 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron’s dividend payout ratio is presently 68.26%.

Insider Activity at Chevron

In related 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 transaction of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.56% of the company’s stock.

Institutional Trading of Chevron

A number of large investors have recently added to or reduced their stakes in CVX. State Street Corp boosted its holdings in shares of Chevron by 9.1% during the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after purchasing an additional 12,789,399 shares during the period. Berkshire Hathaway Inc raised its holdings in shares of Chevron by 6.6% during the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after acquiring an additional 8,091,570 shares in the last quarter. Geode Capital Management LLC boosted its position in Chevron by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock valued at $6,620,187,000 after purchasing an additional 134,890 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Chevron by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company’s stock valued at $5,492,377,000 after buying an additional 961,341 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Chevron by 5.1% in the 1st quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company’s stock valued at $5,716,694,000 after buying an additional 1,334,976 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

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.