Chevron (NYSE:CVX) Trading 2.3% Higher – What’s Next?

Chevron Corporation (NYSE:CVX)’s share price traded up 2.3% during trading on Tuesday . The stock traded as high as $211.08 and last traded at $210.88. Approximately 8,530,580 shares were traded during trading, a decline of 20% from the average session volume of 10,723,500 shares. The stock had previously closed at $206.14.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Potential Venezuela expansion: Chevron is reportedly nearing agreements to add two heavy-oil fields in Venezuela’s Orinoco Belt. A U.S. official said the company is expected to formally announce expanded operations during a visit to Venezuela, potentially giving Chevron access to the country’s vast reserves and increasing its production opportunities. Chevron Stock Rises on Plan to Expand Operations in Venezuela
• Positive Sentiment: Oil-price support: Renewed military conflict involving the United States and Iran, along with constraints around the Strait of Hormuz, pushed crude prices higher. The resulting increase in the energy-sector risk premium benefited Chevron and other oil producers by improving the outlook for upstream cash flow. Chevron and Exxon Mobil Rise as Oil Prices Increase
• Positive Sentiment: Strategic positioning: Chevron is viewed as particularly well positioned because it already has significant Venezuelan operations and refining capabilities for the country’s heavy crude. Expanded contracts could create a multiyear growth opportunity if Venezuela’s amended hydrocarbons framework enables greater foreign-company control and investment. Chevron Positioned to Benefit From Venezuela Oil Deal
• Neutral Sentiment: Deal remains unfinalized: Reports describe negotiations and expected announcements rather than completed transactions. Investors still need clarity on contract terms, capital requirements, production timelines, sanctions, political stability and the role of Venezuelan counterparties before valuing the opportunity.
• Negative Sentiment: Execution and political risks: Reuters reported that some producers have hesitated over the proposed Venezuela arrangement, citing concerns about its structure and the prominent role of a Venezuelan businessman. Chevron could also face pressure to lower fuel prices after President Trump’s meeting with refiners, potentially limiting downstream margins. Trump’s Venezuela Oil Deal Raises Concerns

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CVX shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $216.00 price objective on shares of Chevron in a research report on Friday, July 10th. Barclays cut their price objective on shares of Chevron from $216.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Monday, August 17th. Wall Street Zen raised Chevron from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. UBS Group reaffirmed a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. Finally, Weiss Ratings upgraded Chevron from a “hold (c)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Twenty investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.48.

Chevron Stock Up 2.3%

The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $416.65 billion, a P/E ratio of 20.22, a P/E/G ratio of 0.60 and a beta of 0.49. The stock’s 50-day simple moving average is $188.07 and its 200-day simple moving average is $189.06.

Chevron (NYSE:CVX) last announced its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. The firm had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The company’s revenue was up 57.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.77 EPS. As a group, research analysts predict that Chevron Corporation will post 16.24 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.4%. Chevron’s dividend payout ratio (DPR) is currently 68.26%.

Insiders Place Their Bets

In related news, insider R. Hewitt Pate sold 2,470 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total value of $506,621.70. Following the transaction, the insider directly owned 10,794 shares of the company’s stock, valued at approximately $2,213,957.34. The trade was a 18.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew Benjamin Walz sold 16,800 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the sale, the insider owned 14 shares of the company’s stock, valued at $2,814.84. This trade represents a 99.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,152,582 shares of company stock valued at $225,853,661. 0.56% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chevron

A number of hedge funds have recently modified their holdings of CVX. Midwest Capital Advisors LLC purchased a new position in shares of Chevron during the 1st quarter valued at $25,000. Core Wealth Advisors LLC bought a new position in Chevron during the fourth quarter worth about $26,000. Phillip James Consulting Co. bought a new position in Chevron during the fourth quarter worth about $26,000. Basso Capital Management L.P. purchased a new position in shares of Chevron in the fourth quarter worth about $27,000. Finally, Karpus Management Inc. purchased a new position in shares of Chevron in the fourth quarter worth about $27,000. 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.