Chevron Corporation (NYSE:CVX) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a Moderate Buy consensus on Chevron, with 19 buy, six hold and one sell rating among 26 firms. The average 12-month price target is approximately $206.04, implying upside from the reported $191.91 share price.
• Chevron’s latest quarterly results exceeded expectations, with EPS of $1.41 versus the $1.00 consensus estimate, although revenue of $47.56 billion fell short of forecasts and earnings declined year over year.
• Investor sentiment is also shaped by rising oil prices and potential international production growth, while the upcoming second-quarter earnings report remains a key catalyst. Director John B. Hess recently sold 380,000 shares worth about $73.4 million.

Shares of Chevron Corporation (NYSE:CVX - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twenty-six research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $206.0417.

A number of brokerages have weighed in on CVX. Mizuho lifted their price target on shares of Chevron from $225.00 to $230.00 and gave the company an "outperform" rating in a report on Wednesday, May 27th. Piper Sandler assumed coverage on Chevron in a report on Thursday, July 23rd. They set an "overweight" rating and a $207.00 price objective for the company. Morgan Stanley cut their target price on Chevron from $214.00 to $210.00 and set an "overweight" rating on the stock in a research report on Monday, June 29th. UBS Group reiterated a "buy" rating on shares of Chevron in a report on Tuesday, June 23rd. Finally, BNP Paribas Exane raised Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 price target for the company in a research report on Friday, April 17th.

Chevron Trading Up 2.3%

NYSE CVX opened at $191.91 on Thursday. The company has a market cap of $382.21 billion, a P/E ratio of 33.26, a P/E/G ratio of 0.62 and a beta of 0.50. Chevron has a 12 month low of $146.49 and a 12 month high of $214.71. 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 company has a 50-day moving average of $181.81 and a 200-day moving average of $184.66.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. During the same period in the previous year, the firm earned $2.18 earnings per share. Chevron's revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts predict that Chevron will post 15.61 earnings per share for the current year.

Insider Activity at Chevron

In other news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares of the company's stock, valued at $53,718,294. The trade was a 57.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.56% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Midwest Capital Advisors LLC purchased a new position in shares of Chevron in the 1st quarter valued at $25,000. Main Street Group LTD purchased a new stake in Chevron during the 1st quarter worth $28,000. Phillip James Consulting Co. purchased a new stake in Chevron during the 4th quarter worth $26,000. Core Wealth Advisors LLC acquired a new stake in Chevron in the 4th quarter valued at $26,000. Finally, Karpus Management Inc. acquired a new stake in Chevron in the 4th quarter valued at $27,000. 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: Geopolitical tensions lifted oil prices. Renewed hostilities involving Iran, U.S. forces and Iran-backed groups reduced hopes that the Strait of Hormuz would quickly reopen, supporting crude prices. Higher commodity prices generally benefit Chevron’s production and profitability. Oil Prices Spike After Iran Launches Surprise Attack on U.S. Forces
• Positive Sentiment: Chevron is benefiting from stronger Venezuelan production. Reports highlighted rising oil output following the U.S. takeover of Venezuela, adding to the company’s production growth narrative and helping CVX outperform many other Dow stocks. Dow Leader Rides Surging Oil Prices And Trump's Venezuela Spoils
• Positive Sentiment: Bank of America’s relative preference supports CVX. BofA downgraded Exxon Mobil to Neutral while maintaining a Buy-rated view on Chevron, providing a favorable analyst comparison for CVX within the large-cap oil sector. Exxon Cut to Neutral at BofA, Which Favors Buy-Rated Chevron
• Neutral Sentiment: Second-quarter earnings are the next major catalyst. Chevron is scheduled to report on July 31. Investors are weighing the benefit of higher oil prices against potentially volatile commodity-driven earnings and the company’s prior year-over-year earnings decline. Pre-Q2 Earnings: Is Chevron Stock a Buy, Hold, or Sell?
• Neutral Sentiment: International expansion remains an opportunity with execution risks. Chevron is discussing Iraqi oil fields and export projects while also seeking U.S. government support to protect its Kazakhstan assets. The initiatives could expand production, but they expose the company to geopolitical and regulatory uncertainty. Chevron Returns to Iraq: What Do the Latest Oilfield Talks Signal?

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.

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