Chevron (NYSE:CVX) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Chevron to “strong buy” from “hold.” The stock has an overall “Moderate Buy” consensus rating and an average analyst price target of $210.87.
• Chevron opened at $207.65, near its 52-week high, and its latest quarterly results beat expectations with adjusted EPS of $6.06 and revenue of $67.20 billion.
• Institutional investors own 72.42% of Chevron, while insiders have sold more than 1.15 million shares worth approximately $225.9 million over the past 90 days.

Chevron (NYSE:CVX - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday, Zacks reports.

CVX has been the topic of a number of other reports. Morgan Stanley upped their target price on Chevron from $210.00 to $218.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 19th. Argus boosted their target price on shares of Chevron from $206.00 to $211.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Dbs Bank raised shares of Chevron to a "moderate buy" rating in a research report on Thursday, August 6th. Wolfe Research raised Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 price objective for the company in a report on Thursday, July 2nd. Finally, The Goldman Sachs Group lowered their price objective on Chevron from $240.00 to $228.00 and set a "buy" rating for the company in a research note on Tuesday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $210.87.

Chevron Trading Up 0.6%

CVX opened at $207.65 on Monday. The company has a fifty day moving average price of $203.56 and a two-hundred day moving average price of $192.84. Chevron has a 1-year low of $146.49 and a 1-year high of $217.78. The company has a market cap of $410.26 billion, a P/E ratio of 19.91, a price-to-earnings-growth ratio of 0.57 and a beta of 0.53. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The company had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. During the same period last year, the business posted $1.77 EPS. The firm's revenue for the quarter was up 57.4% compared to the same quarter last year. Analysts predict that Chevron will post 17.47 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Andrew Walz sold 16,800 shares of Chevron stock in a transaction on 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 directly owned 14 shares in the company, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John B. Hess sold 710,665 shares of the company's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total value of $137,940,076.50. Following the completion of the transaction, the director owned 363,711 shares of the company's stock, valued at $70,596,305.10. This trade represents a 66.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,152,582 shares of company stock worth $225,853,661 over the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

Institutional Trading of Chevron

A number of large investors have recently added to or reduced their stakes in CVX. State Street Corp lifted its holdings in shares of Chevron by 3.9% during the 2nd quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company's stock worth $28,016,651,000 after acquiring an additional 5,998,852 shares during the last quarter. BlackRock Inc. bought a new stake in Chevron during the second quarter worth about $25,663,729,000. Berkshire Hathaway Inc increased its position in shares of Chevron by 6.6% during the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company's stock valued at $19,837,131,000 after purchasing an additional 8,091,570 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Chevron by 5.1% during 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. Finally, Invesco Ltd. grew its position in Chevron by 1.5% during the fourth quarter. Invesco Ltd. now owns 17,119,575 shares of the oil and gas company's stock valued at $2,609,194,000 after acquiring an additional 254,323 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Major Bakken cost reduction: Chevron agreed to restructure its Hess Midstream and DJ Basin arrangements. The revised Bakken contracts are expected to reduce midstream costs by approximately 50%, potentially improving earnings and return on capital. Chevron will also divest related ownership interests, simplifying its asset portfolio. Chevron to Divest its Ownership Interests in Hess Midstream and DJ Basin Crude Midstream Assets
• Positive Sentiment: Tighter oil and fuel markets: CEO Mike Wirth said supply buffers are shrinking as the Middle East conflict continues. A prolonged disruption could support crude and refined-product prices, which would benefit Chevron’s upstream and downstream businesses. Oil, fuel supply buffers are thinning as Middle East conflict continues, Chevron CEO says
• Positive Sentiment: Exploration upside: Chevron increased its position in Namibia’s PEL 90 ahead of the Nabba-1X well, signaling confidence in the Orange Basin’s exploration potential. The company is also increasing conventional exploration spending across several frontier regions. Chevron Strengthens Namibia Position Ahead of Nabba-1X Well
• Positive Sentiment: Positive market sentiment: Zacks added CVX to its Strong Buy and momentum-stock lists, reinforcing investor interest after the stock’s strong 2026 performance. Best Momentum Stocks to Buy for October 6th
• Neutral Sentiment: Leadership transition: Chevron is moving CFO Eimear Bonner to lead its oil, products and gas operations, while Jeff Gustavson is slated to become CFO in January. The changes provide internal continuity but may keep CEO succession discussions in focus. Chevron names insider CFO amid leadership shifts
• Negative Sentiment: Storm-related operating risk: Chevron evacuated nonessential personnel from some Gulf of Mexico platforms as a tropical storm approached. A significant storm could temporarily disrupt production, though the immediate action is precautionary. Chevron evacuates some workers from Gulf of Mexico platforms at risk of storm
• Negative Sentiment: Diesel-export policy risk: Wirth warned that a U.S. diesel export ban could raise domestic prices, disrupt overseas customers and ultimately worsen fuel-market conditions. Such policy uncertainty could pressure refining operations and margins. Chevron CEO warns against unwise diesel export ban

About Chevron

Chevron Corporation NYSE: CVX is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.

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