Chevron (NYSE:CVX) Sets New 52-Week High on Analyst Upgrade

Chevron Corporation (NYSE:CVX) shares reached a new 52-week high during mid-day trading on Thursday after Piper Sandler raised their price target on the stock from $179.00 to $242.00. Piper Sandler currently has an overweight rating on the stock. Chevron traded as high as $195.20 and last traded at $195.4720, with a volume of 3637881 shares. The stock had previously closed at $191.79.

Several other research analysts also recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, January 21st. Barclays boosted their price objective on shares of Chevron from $158.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 21st. Zacks Research upgraded Chevron from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 23rd. Bank of America raised their target price on Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Finally, Citigroup lifted their target price on Chevron from $179.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Thirteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $182.05.

Insider Activity

In related news, insider R. Hewitt Pate sold 58,000 shares of Chevron stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $188.65, for a total transaction of $10,941,700.00. Following the transaction, the insider owned 8,558 shares in the company, valued at approximately $1,614,466.70. The trade was a 87.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael K. Wirth sold 320,700 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $162.99, for a total transaction of $52,270,893.00. Following the completion of the transaction, the chief executive officer directly owned 14,450 shares of the company’s stock, valued at $2,355,205.50. This represents a 95.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,099,397 shares of company stock valued at $196,196,468. Company insiders own 0.21% of the company’s stock.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Geopolitical-driven oil rally is lifting energy names like Chevron as investors position for tighter supply; this is a primary driver behind recent upside in CVX. Wall Street Roundup: War, Oil, Airlines, Energy, AI, Private Credit
• Positive Sentiment: Piper Sandler raised its price target to $242 and moved to an “overweight” rating, signaling notable analyst upside that can support further buying interest. Piper Sandler price target raise
• Positive Sentiment: Chevron expanded its U.S. deepwater exposure via recent Gulf of Mexico lease activity, reinforcing confidence in long-term upstream growth and reserves development. Chevron Expands Gulf of Mexico Presence With Latest Lease Sale
• Positive Sentiment: Unusual options flow showed heavy call buying (111,021 calls), indicating speculative/bullish positioning that can amplify near-term upside.
• Neutral Sentiment: Chevron agreed to sell its stakes in Angola Blocks 14/14K to Energean for about $260M — a small portfolio divestment that trims international exposure but provides cash for reallocation; impact is strategic rather than material to earnings. Energean to acquire Chevron’s stakes in offshore Angola blocks
• Neutral Sentiment: Worley won a FEED contract for Chevron’s Aphrodite gas field (Cyprus), confirming project progress; it’s a positive operational step but the contract award mainly benefits the supplier and signals Chevron advancing development plans. Worley secures contract from Chevron for Aphrodite gas field FEED
• Neutral Sentiment: Analyst and media coverage is debating valuation as CVX approaches $200 after a ~30% run in 2026; some see upside if oil holds, others warn the rally could be stretched. Chevron Near $200 While Oil Tops $100: Does CVX Merit a Buy?
• Negative Sentiment: Chevron faces a DOJ settlement: a $1M penalty and retirement of $3.6M in invalid renewable fuel credits — reputational and compliance negative, though the financial hit is modest. Chevron Hit With $1 Million Penalty Over Invalid Clean Fuel Credits
• Negative Sentiment: MarketBeat and technical indicators note momentum warnings (MACD/RSI weakening) and the IEA’s coordinated reserve releases could cap oil — if oil eases, Chevron’s rally could reverse quickly. Chevron Hits New Highs Due to Oil’s Rally, But Is It Sustainable?

Hedge Funds Weigh In On Chevron

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Chevron by 17.9% during the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock valued at $28,540,753,000 after purchasing an additional 27,961,463 shares during the period. State Street Corp lifted its holdings in Chevron by 9.1% in the 3rd 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 in the last quarter. Berkshire Hathaway Inc boosted its stake in Chevron by 6.6% in the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after purchasing an additional 8,091,570 shares during the period. Geode Capital Management LLC grew its holdings in Chevron by 0.3% during the 4th 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 buying an additional 134,890 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in 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 in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

The stock has a market cap of $393.00 billion, a P/E ratio of 29.57, a PEG ratio of 1.98 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. The firm’s 50-day moving average price is $177.33 and its 200-day moving average price is $162.02.

Chevron (NYSE:CVX) last issued its earnings results 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 firm had revenue of $45.79 billion during the quarter, compared to analyst estimates of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 7.89%. Chevron’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.06 earnings per share. Sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were paid a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.6%. The ex-dividend date was Tuesday, February 17th. This is an increase from Chevron’s previous quarterly dividend of $1.71. Chevron’s dividend payout ratio is presently 106.91%.

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.