Chevron Corporation (NYSE:CVX) Sees Large Decline in Short Interest

Key Points

• Short interest in Chevron fell by 14.5% to 21,018,699 shares as of March 31, representing about 1.1% of shares outstanding and a days‑to‑cover ratio of 1.3 days.
• Chevron raised its quarterly dividend to $1.78 (annualized $7.12) for a yield of about 3.9%, though the payout ratio is elevated at 106.9%, suggesting dividends exceed trailing earnings.
• Market signals are mixed: several analysts and banks have lifted price targets and ratings, yet the stock recently traded down to $184.08 (down ~2.2%) and insiders sold roughly 779,407 shares (~$146M) over the past three months.

Chevron Corporation (NYSE:CVX - Get Free Report) was the target of a large decline in short interest in March. As of March 31st, there was short interest totaling 21,018,699 shares, a decline of 14.5% from the March 15th total of 24,588,806 shares. Currently, 1.1% of the shares of the stock are short sold. Based on an average trading volume of 15,573,164 shares, the days-to-cover ratio is currently 1.3 days.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Analysts and commentators highlight Chevron’s strong financial position — called “elite” alongside Exxon — which supports resilience through shocks and underpins dividend safety and buybacks. 3 Battle‑Tested Energy Stocks With the Balance Sheets to Handle the Next Iran‑Driven Shock
• Positive Sentiment: RBC lifted Chevron’s price target as its commodity outlook improved — a vote of confidence that can support the stock if energy prices stay elevated. Chevron (CVX) price target lifted by RBC as commodity view improves
• Positive Sentiment: Multiple income-focused pieces highlight Chevron as a high-yield, dividend-rich holding (including note that early investors now see a ~12% yield on their cost basis), making CVX attractive to yield-seeking investors. Early Chevron stock investors now earn 12.1% dividend yield
• Positive Sentiment: Options research and buy‑the‑dip commentary recommend accumulation strategies, signaling retail/options traders may step in on weakness. Why Bulls Should Buy the Dip on Chevron Stock
• Neutral Sentiment: Peer comparisons (Petrobras vs. Chevron) note PBR’s stronger near-term growth profile and cheaper valuation, which could divert growth-focused flows away from CVX. Petrobras & Chevron: Which Energy Major Should You Pick?
• Negative Sentiment: Fears easing around the Iran war (reports suggesting “the Iran War is over”) have reduced the immediate geopolitical premium in oil — a key reason cited for recent intraday weakness. Why Chevron Stock Dropped on Friday
• Negative Sentiment: An analyst downgrade was reported as a direct catalyst for recent declines, pressuring sentiment despite fundamentals. Chevron NYSE: CVX Stock Price Down 2.5% on Analyst Downgrade
• Negative Sentiment: Some coverage flags execution and timing risk from Chevron’s large Hess acquisition and expanded Venezuela heavy‑oil exposure — moves that boost long‑term reserves but introduce project, financing and political risk. Did Chevron's Big Acquisition Happen at the Perfect Time?

Chevron Trading Down 2.2%

CVX traded down $4.07 during trading on Friday, hitting $184.08. The company's stock had a trading volume of 15,686,677 shares, compared to its average volume of 13,026,872. The firm's 50 day moving average price is $192.28 and its 200-day moving average price is $168.77. 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 stock has a market cap of $366.74 billion, a PE ratio of 27.64, a PEG ratio of 1.18 and a beta of 0.60. Chevron has a twelve month low of $132.33 and a twelve month high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.08. The company had revenue of $45.79 billion during the quarter, compared to the consensus estimate of $48.18 billion. Chevron had a return on equity of 7.89% and a net margin of 6.51%.Chevron's revenue was down 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.06 EPS. On average, analysts expect that Chevron will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were issued a $1.78 dividend. This is a boost from Chevron's previous quarterly dividend of $1.71. The ex-dividend date was Tuesday, February 17th. This represents a $7.12 annualized dividend and a yield of 3.9%. Chevron's payout ratio is presently 106.91%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Wall Street Zen upgraded Chevron from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. BNP Paribas Exane upgraded Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 price objective for the company in a research report on Friday. Mizuho lifted their price objective on Chevron from $206.00 to $217.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 17th. Jefferies Financial Group lifted their price objective on Chevron from $174.00 to $189.00 and gave the stock a "buy" rating in a research report on Wednesday, January 14th. Finally, Morgan Stanley lifted their price objective on Chevron from $174.00 to $212.00 and gave the stock an "overweight" rating in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $194.21.

Insider Buying and Selling at Chevron

In other news, Vice Chairman Mark A. Nelson sold 139,600 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the sale, the insider owned 11,337 shares of the company's stock, valued at $2,130,449.04. The trade was a 92.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael K. Wirth sold 272,624 shares of Chevron stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $189.35, for a total value of $51,621,354.40. Following the transaction, the chief executive officer owned 31,266 shares of the company's stock, valued at $5,920,217.10. This represents a 89.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 779,407 shares of company stock worth $145,972,971. Corporate insiders own 0.21% of the company's stock.

Institutional Trading of Chevron

Institutional investors and hedge funds have recently made changes to their positions in the company. Core Wealth Advisors LLC purchased a new stake in Chevron during the 4th quarter worth $26,000. Phillip James Consulting Co. purchased a new stake in Chevron during the 4th quarter worth $26,000. Basso Capital Management L.P. purchased a new stake in Chevron during the 4th quarter worth $27,000. Karpus Management Inc. purchased a new stake in Chevron during the 4th quarter worth $27,000. Finally, Quattro Advisors LLC purchased a new stake in Chevron during the 4th quarter worth $27,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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.

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