Chevron (NYSE:CVX) Trading Down 1.2% – Here’s Why

Shares of Chevron Corporation (NYSE:CVX) fell 1.2% on Tuesday . The company traded as low as $186.73 and last traded at $187.70. Approximately 7,376,234 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 11,169,949 shares. The stock had previously closed at $190.00.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron raised its quarterly dividend, extending its long-running record of dividend growth and reinforcing its appeal to income-focused investors. Chevron lifts quarterly dividend
• Positive Sentiment: The company is evaluating a broader upstream presence in Iraq, including major oil fields and export projects. Potential expansion in a large producing region could support longer-term production growth, although it also brings political and execution risks. Chevron returns to Iraq
• Neutral Sentiment: Chevron CEO Mike Wirth met with U.S. officials regarding protection of the company’s Kazakhstan oil assets. The discussions highlight the strategic importance of its operations but also underscore exposure to regional geopolitical and regulatory risks. Chevron meets U.S. officials
• Neutral Sentiment: Chevron’s subsidiary awarded a roughly $51 million, multiyear drilling contract in Malaysia’s North Malay Basin, supporting its offshore gas development plans. The project adds to future production potential but is unlikely to materially affect near-term earnings. Chevron Malaysia drilling contract
• Negative Sentiment: Brent and West Texas Intermediate crude prices fell sharply after President Trump indicated possible negotiations with Iran, reducing concerns about supply disruptions. Lower oil prices can pressure Chevron’s upstream revenue, cash flow and valuation. Oil prices slide on Iran negotiations
• Negative Sentiment: The broader energy sector also declined as oil prices weakened, creating a market-wide headwind for major producers including CVX. Investors are now focused on whether Chevron’s upcoming results and outlook can offset the commodity-price pressure. Energy stocks decline

Analyst Ratings Changes

A number of research firms have issued reports on CVX. Citigroup boosted their price target on Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Weiss Ratings cut shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Wells Fargo & Company raised their price objective on shares of Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. UBS Group restated a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $220.00 target price on shares of Chevron in a report on Tuesday, May 5th. Nineteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $206.04.

Chevron Stock 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 business has a 50-day simple moving average of $181.99 and a 200 day simple moving average of $184.20. The firm has a market cap of $373.82 billion, a PE ratio of 32.53, a PEG ratio of 0.65 and a beta of 0.50.

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

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the transaction, the director owned 278,045 shares of the company’s stock, valued at $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.56% of the company’s stock.

Institutional Trading of Chevron

A number of hedge funds and other institutional investors have recently modified their holdings of CVX. Curtis Advisory Group LLC bought a new stake in Chevron in the 4th quarter worth approximately $1,381,000. Indivisible Partners bought a new position in shares of Chevron during the 4th quarter valued at approximately $1,923,000. Janney Montgomery Scott LLC grew its holdings in shares of Chevron by 6.8% in the first quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company’s stock valued at $258,853,000 after purchasing an additional 79,439 shares in the last quarter. Galaxy Digital Inc. bought a new stake in Chevron in the first quarter worth $2,028,000. Finally, Nations Financial Group Inc. IA ADV increased its position in Chevron by 35.0% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 42,882 shares of the oil and gas company’s stock worth $6,536,000 after purchasing an additional 11,120 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

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.