Chevron (NYSE:CVX) Shares Up 1.7% on Analyst Upgrade

Key Points

• Chevron shares rose 1.7% after TD Cowen nudged its price target up from $204 to $205, while keeping a hold rating. The stock traded as high as $185.20 on heavier-than-average volume.
• Analyst sentiment remains broadly positive: several firms recently lifted price targets or reiterated bullish ratings, and MarketBeat’s summary shows a Moderate Buy consensus with an average target of $204.13.
• Chevron also reported solid quarterly results and maintained shareholder returns, posting earnings above estimates and announcing a $1.78 quarterly dividend payable June 10, equal to a 3.9% annualized yield.

Chevron Corporation (NYSE:CVX - Get Free Report)'s share price shot up 1.7% on Monday after TD Cowen raised their price target on the stock from $204.00 to $205.00. TD Cowen currently has a hold rating on the stock. Chevron traded as high as $185.20 and last traded at $184.6430. 11,789,611 shares were traded during trading, a decline of 5% from the average session volume of 12,470,763 shares. The stock had previously closed at $181.62.

A number of other research analysts also recently weighed in on CVX. Morgan Stanley increased their price objective on shares of Chevron from $174.00 to $212.00 and gave the company an "overweight" rating in a research report on Friday, March 27th. The Goldman Sachs Group restated a "buy" rating and set a $216.00 price objective on shares of Chevron in a research report on Wednesday, May 6th. Wall Street Zen upgraded shares of Chevron from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. Wells Fargo & Company increased their price objective on shares of Chevron from $204.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. Finally, BNP Paribas Exane upgraded shares of Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 price objective on the stock in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $204.13.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 195,000 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $184.78, for a total value of $36,032,100.00. Following the completion of the sale, the director directly owned 658,045 shares of the company's stock, valued at $121,593,555.10. This represents a 22.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael K. Wirth sold 272,624 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $189.35, for a total transaction of $51,621,354.40. Following the completion of the sale, the chief executive officer directly owned 31,266 shares of the company's stock, valued at approximately $5,920,217.10. This trade represents a 89.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 816,439 shares of company stock valued at $154,339,900 in the last quarter. Insiders own 0.56% of the company's stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is being highlighted for its shareholder returns, including more than $5 billion returned to shareholders for 16 straight quarters and a long record of dividend growth, which reinforces its appeal as a cash-generating energy stock. Article Title
• Positive Sentiment: Reuters reported that Syria selected an offshore block for a first deep-water oil and gas exploration project with Chevron and Qatar’s UCC Holding, which could expand Chevron’s international growth opportunities. Article Title
• Neutral Sentiment: Chevron’s CEO comments about global supply outages are adding to the market focus on geopolitical risks that can keep oil prices elevated, which would generally support upstream earnings but also signal a volatile backdrop for energy stocks. Article Title
• Neutral Sentiment: Analyst coverage noted a higher FY2026 EPS forecast for Chevron, suggesting expectations are moving upward, though the article itself provides limited detail on the reason for the revision. Article Title
• Negative Sentiment: Reports about rising calls for windfall taxes on energy companies across Europe could weigh on sentiment toward the sector by raising concerns about future government intervention and lower after-tax profits. Article Title

Institutional Trading of Chevron

A number of hedge funds and other institutional investors have recently modified their holdings of the company. United Bank boosted its position in shares of Chevron by 7.7% during the second quarter. United Bank now owns 11,079 shares of the oil and gas company's stock worth $1,586,000 after acquiring an additional 796 shares during the last quarter. Schnieders Capital Management LLC. boosted its position in shares of 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 acquiring an additional 4,214 shares during the last quarter. BNP Paribas boosted its position in shares of 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 acquiring an additional 191 shares during the last quarter. Osterweis Capital Management Inc. boosted its position in shares of 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 during the last quarter. Finally, Main Street Financial Solutions LLC boosted its position in shares of 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 during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 1.7%

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 stock's 50-day moving average is $193.21 and its two-hundred day moving average is $172.09. The stock has a market cap of $367.73 billion, a P/E ratio of 32.00, a price-to-earnings-growth ratio of 0.63 and a beta of 0.51.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping 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 analyst estimates of $51.86 billion. During the same quarter in the prior year, the business earned $2.18 earnings per share. Chevron's revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Chevron Corporation will post 15.02 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be given a dividend of $1.78 per share. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.9%. Chevron's dividend payout ratio is currently 123.40%.

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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