Chevron (NYSE:CVX) Lowered to Hold Rating by Zacks Research

Key Points

• Zacks Research downgraded Chevron from a “strong-buy” to a “hold” rating, even as other firms have recently raised targets or maintained bullish views. MarketBeat still shows a consensus rating of Moderate Buy with an average target price of $205.70.
• Chevron shares were down about 1.3% and opened at $186.78, with the stock trading below its 52-week high of $214.71. The company has a market cap of $371.99 billion and a relatively low beta of 0.48.
• Recent earnings showed EPS of $1.41, beating estimates, but revenue of $47.56 billion came in below expectations. Insider selling has also been notable, with directors and insiders selling a total of 615,200 shares over the last 90 days.

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

Other analysts also recently issued research reports about the company. BNP Paribas Exane raised Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 price objective on the stock in a research note on Friday, April 17th. Mizuho boosted their target price on Chevron from $225.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, May 27th. TD Cowen increased their price target on Chevron from $204.00 to $205.00 and gave the stock a "hold" rating in a report on Friday, May 8th. Citigroup raised their price target on Chevron from $210.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, April 2nd. Finally, Wells Fargo & Company boosted their price objective on Chevron from $204.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. Eighteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Chevron currently has a consensus rating of "Moderate Buy" and an average target price of $205.70.

Chevron Stock Down 1.3%

Shares of NYSE CVX opened at $186.78 on Monday. The stock has a market cap of $371.99 billion, a P/E ratio of 32.37, a P/E/G ratio of 0.63 and a beta of 0.48. The firm has a 50 day moving average price of $189.80 and a 200 day moving average price of $177.47. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. Chevron has a 52-week low of $141.91 and a 52-week high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.41. The company had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $2.18 earnings per share. Analysts expect that Chevron will post 15.74 EPS 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 that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, the director directly owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of the stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the transaction, the insider owned 8,638 shares of the company's stock, valued at $1,842,485.40. The trade was a 82.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 615,200 shares of company stock valued at $118,022,760 over the last ninety days. Company insiders own 0.56% of the company's stock.

Hedge Funds Weigh In On Chevron

Hedge funds have recently modified their holdings of the stock. United Bank raised its stake in shares of Chevron by 7.7% during the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company's stock worth $1,586,000 after purchasing an additional 796 shares in the last quarter. Schnieders Capital Management LLC. increased its holdings in Chevron by 9.0% during the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company's stock worth $7,280,000 after buying an additional 4,214 shares during the last quarter. BNP Paribas increased its holdings in Chevron by 76.4% during the second quarter. BNP Paribas now owns 441 shares of the oil and gas company's stock worth $63,000 after buying an additional 191 shares during the last quarter. Osterweis Capital Management Inc. raised its position in Chevron by 678.9% during the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company's stock worth $195,000 after acquiring an additional 1,188 shares in the last quarter. Finally, Main Street Financial Solutions LLC raised its position in Chevron by 3.6% during the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company's stock worth $2,299,000 after acquiring an additional 553 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is being highlighted as a long-term, income-focused energy name thanks to its dependable dividend profile and resilient business model, which supports investor interest in the stock. Want Income? Buy These 3 Top Energy Dividend Stocks Now
• Positive Sentiment: Analysts continue to point to Chevron as a top stock for the long term, reinforcing the view that the company remains one of the stronger large-cap energy holdings. Why Chevron (CVX) is a Top Stock for the Long-Term
• Positive Sentiment: Chevron is also being included among energy stocks positioned to benefit from rising power demand tied to the AI buildout, which could support future energy demand and sector sentiment. 3 Energy Stocks Built for the AI Power Boom—And Beyond (CVX)
• Positive Sentiment: Chevron’s push to advance a large $13.8 billion unconventional oil project in Argentina’s Vaca Muerta basin could be a meaningful long-term growth driver if approved. Chevron Advances Unconventional Oil Project in Argentina's Vaca Muerta
• Neutral Sentiment: Several articles note renewed investor interest in Chevron and broader energy stocks, but these are more commentary-driven than company-specific catalysts. Here is What to Know Beyond Why Chevron Corporation (CVX) is a Trending Stock
• Neutral Sentiment: A feature on Chevron’s dividend reinvestment performance underscores the company’s long-term wealth-building history, but it is not a new operational catalyst. How Chevron Turned $1,000 Into $3,500 With Reinvested Dividends

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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