Chevron (NYSE:CVX) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Chevron from “hold” to “buy.” The broader analyst consensus is “Moderate Buy,” with 18 Buy, six Hold and one Sell rating and an average price target of $207.48.
• Chevron reported quarterly EPS of $6.06, beating estimates of $5.55, while revenue reached $67.20 billion versus the $62.72 billion consensus and rose 57.4% year over year.
• Insiders sold significant amounts of stock during the quarter, including CEO Michael Wirth’s 5,547 shares and director John Hess’s 100,000 shares in the cited transactions; insiders sold roughly 1.2 million shares worth $231.8 million overall.

Chevron (NYSE:CVX - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

A number of other brokerages have also issued reports on CVX. UBS Group restated a "buy" rating on shares of Chevron in a research report on Tuesday, June 23rd. Piper Sandler began coverage on Chevron in a report on Thursday, July 23rd. They issued an "overweight" rating and a $207.00 price target for the company. Scotiabank increased their price target on Chevron from $168.00 to $187.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada restated an "outperform" rating and set a $220.00 price objective on shares of Chevron in a report on Tuesday, May 5th. Finally, Barclays lifted their price objective on Chevron from $213.00 to $216.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $207.48.

Chevron Stock Performance

NYSE CVX opened at $186.42 on Friday. Chevron has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The stock has a market cap of $371.28 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 0.58 and a beta of 0.49. The business has a fifty day moving average of $182.37 and a 200-day moving average of $185.80. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.55 by $0.51. The business had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a return on equity of 11.14% and a net margin of 9.57%.The business's revenue was up 57.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.77 earnings per share. As a group, analysts predict that Chevron will post 15.88 earnings per share for the current fiscal year.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 5,547 shares of the company's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total value of $1,037,289.00. Following the completion of the transaction, the chief executive officer directly owned 26,308 shares of the company's stock, valued at $4,919,596. This represents a 17.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John B. Hess sold 100,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.26, for a total value of $19,426,000.00. Following the completion of the transaction, the director directly owned 178,045 shares of the company's stock, valued at $34,587,021.70. This represents a 35.97% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,196,212 shares of company stock valued at $231,819,366. Insiders own 0.56% of the company's stock.

Institutional Trading of Chevron

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cornerstone Advisory LLC increased its position in shares of Chevron by 0.9% during the 1st quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company's stock worth $1,164,000 after purchasing an additional 52 shares during the last quarter. Compton Financial Group LLC lifted its position in Chevron by 1.9% in the first quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company's stock valued at $609,000 after buying an additional 56 shares during the last quarter. Quantum Portfolio Management LLC lifted its position in Chevron by 2.7% in the first quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company's stock valued at $435,000 after buying an additional 56 shares during the last quarter. Wealthspire Retirement LLC boosted its stake in Chevron by 0.9% during the first quarter. Wealthspire Retirement LLC now owns 6,530 shares of the oil and gas company's stock worth $1,351,000 after buying an additional 56 shares during the period. Finally, D.B. Root & Company LLC boosted its stake in Chevron by 1.0% during the fourth quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company's stock worth $846,000 after buying an additional 57 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron reported a sharp earnings rebound, with quarterly net income reaching $12.1 billion versus $2.5 billion a year earlier. The company also exceeded earnings and revenue expectations, benefiting from higher energy prices and Middle Eastern supply disruptions. Chevron Turned $3.1 Billion Loss Into A Gain
• Positive Sentiment: Analysts remain constructive, with TD Cowen forecasting meaningful appreciation potential. Coverage also highlights record production, debt reduction and Chevron’s long-term power agreement with Microsoft as support for the investment case. TD Cowen Forecasts Strong Price Appreciation for Chevron
• Positive Sentiment: Chevron’s dividend, scale, financial strength and resilient operations continue to attract income-focused investors despite volatile oil prices. The company is also expanding its North American base-oils distribution network, potentially supporting downstream growth and product diversification. Beyond Oil Prices: The Case for 3 Dividend-Paying Energy Giants
• Neutral Sentiment: Conflict-related uncertainty in the Gulf is keeping energy options premiums elevated and creating trading opportunities around major oil companies. The same volatility could support Chevron’s cash flow, but it also increases commodity and geopolitical risk. Gulf Uncertainty Is Creating a Win-Win Strategy
• Negative Sentiment: Director John B. Hess sold 810,665 shares in disclosed transactions, reducing his holdings substantially. CEO Michael Wirth separately sold 5,547 shares, or 17.41% of his direct position. Large insider sales may pressure sentiment, although they do not necessarily indicate deteriorating business fundamentals. Chevron Director Insider Sale Filing

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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