Chevron (NYSE:CVX) Stock Price Down 1.1% - Time to Sell?

Key Points

• Chevron shares fell 1.1% in Thursday trading, with the stock last changing hands at $174.05 after trading as low as $173.90. Volume was lighter than usual, coming in about 43% below the average session level.
• Despite the dip, Wall Street sentiment remains constructive: several firms recently raised targets or reiterated bullish ratings, and the stock carries a consensus Moderate Buy rating with a target price around $205.71.
• Recent news is mixed but includes some positives, such as higher crude prices supporting energy stocks and Chevron’s technology licensing deal to help improve shale output. At the same time, the company is facing renewed scrutiny over a reported DOJ probe into possible price gouging.

Chevron Corporation (NYSE:CVX - Get Free Report) shares traded down 1.1% during mid-day trading on Thursday . The stock traded as low as $173.90 and last traded at $174.05. Approximately 6,565,375 shares traded hands during trading, a decline of 43% from the average session volume of 11,596,687 shares. The stock had previously closed at $175.97.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Rising crude prices tied to the fraying U.S.-Iran ceasefire and concern over the Strait of Hormuz are boosting Chevron and other oil stocks, since higher oil prices can lift upstream earnings and cash flow. Ceasefire Cracks, Oil Bounces: Why Exxon, Chevron Stocks Are Hot Again
• Positive Sentiment: Chevron announced a technology licensing deal with ZL Chemicals to commercialize its enhanced oil recovery and surfactant technology, which could improve shale output and extend well life, a potentially supportive long-term growth story. Chevron offers rival drillers its chemical technology to boost shale oil output
• Positive Sentiment: Analyst coverage remains constructive, with RBC reiterating a Buy rating and a $220 target, reinforcing the view that Chevron still has upside despite recent volatility. Chevron’s (CVX) Data Center Ambitions Are A Great Way To Play The AI Power Bottleneck
• Neutral Sentiment: Articles highlighting Chevron as a strong dividend and blue-chip energy holding may support investor interest, but they are mostly reiterations of existing investment themes rather than new catalysts. Chevron (CVX) – Among the 14 Best Blue Chip Dividend Stocks to Buy According to Hedge Funds
• Neutral Sentiment: Broad market commentary about expensive U.S. stocks and energy-sector technical indicators is more relevant to sector allocation than to a direct Chevron-specific catalyst. Are Energy Stocks Still A Long-Term Buy (Technical Analysis)?
• Negative Sentiment: Chevron is facing renewed political scrutiny as the U.S. government reportedly explores a DOJ probe into possible price gouging, which could weigh on sentiment if the investigation broadens. Chevron (CVX) Faces DOJ Probe As Iran Tensions Raise Record Profit Stakes
• Negative Sentiment: The tanker drone attack in the Black Sea adds operational risk around Chevron-linked shipping activity, even if the direct financial impact is unclear for now. Chevron tanker used for CPC oil hit by drone in Black Sea

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CVX shares. Citigroup lifted their price objective on Chevron from $210.00 to $235.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. Wolfe Research upgraded shares of Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 price target on the stock in a research note on Thursday, July 2nd. HSBC raised shares of Chevron from a "hold" rating to a "buy" rating and set a $215.00 price target on the stock in a report on Friday, March 20th. UBS Group reaffirmed a "buy" rating on shares of Chevron in a report on Tuesday, June 23rd. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $220.00 target price on shares of Chevron in a research note on Tuesday, May 5th. Nineteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $205.71.

Chevron Price Performance

The stock has a market capitalization of $346.64 billion, a P/E ratio of 30.16, a PEG ratio of 0.59 and a beta of 0.50. The company's 50 day simple moving average is $182.51 and its two-hundred day simple moving average is $181.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.41. The company had revenue of $47.56 billion during the quarter, compared to analysts' expectations of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. Chevron's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.18 earnings per share. As a group, equities analysts expect that Chevron Corporation will post 15.28 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were issued a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Tuesday, May 19th. Chevron's dividend payout ratio is presently 123.40%.

Insider Activity at Chevron

In other news, Director John B. Hess sold 380,000 shares of the firm's stock in a transaction on 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 completion of the sale, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.56% of the company's stock.

Institutional Investors Weigh In On Chevron

A number of hedge funds have recently added to or reduced their stakes in the stock. Dakota Wealth Management lifted its stake in shares of Chevron by 14.9% in the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company's stock valued at $12,690,000 after purchasing an additional 10,822 shares during the period. Clear Trail Advisors LLC bought a new position in shares of Chevron in the 4th quarter worth $10,167,000. Curtis Advisory Group LLC acquired a new stake in shares of Chevron during the fourth quarter worth $1,381,000. Indivisible Partners acquired a new stake in shares of Chevron during the fourth quarter worth $1,923,000. Finally, Focus Partners Wealth grew its stake in shares of Chevron by 3.2% during the third quarter. Focus Partners Wealth now owns 1,444,281 shares of the oil and gas company's stock worth $224,278,000 after purchasing an additional 45,017 shares during the period. Institutional investors own 72.42% of the company's stock.

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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