Chevron (NYSE:CVX) Stock Price Down 1.2% - Here's What Happened

Key Points

• Chevron shares fell 1.2% mid‑day Wednesday to $184.86 (intraday low $184.04) on lighter volume of ~8.63M shares, down about 34% from the daily average.
• The planned asset swap with PDVSA that increases Chevron’s stake in Petroindependencia is a key long‑term catalyst, but execution/governance risk — including Suelopetrol saying it wasn’t formally notified — could delay value realization.
• Rising oil prices from Middle East tensions are supporting near‑term cash flow and refining margins, analysts remain mostly positive (consensus "Moderate Buy," $195.09 target), and Chevron recently raised its quarterly dividend to $1.78 (≈3.9% yield).

Chevron Corporation (NYSE:CVX - Get Free Report) shares dropped 1.2% during mid-day trading on Wednesday . The stock traded as low as $184.04 and last traded at $184.86. Approximately 8,633,484 shares changed hands during trading, a decline of 34% from the average daily volume of 13,060,772 shares. The stock had previously closed at $187.02.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil-price backdrop from Middle East tensions supports cash flow and refining margins; talks to extend a U.S.–Iran ceasefire and ongoing Strait of Hormuz uncertainty have kept crude elevated near the mid‑$90s–$100 range, which benefits integrated producers like Chevron. US, Iran Consider Extending Ceasefire
• Positive Sentiment: Chevron’s strategic asset swap with PDVSA increases its Petroindependencia stake and expands exposure in Venezuela’s Orinoco heavy‑oil Belt — a long‑term production and value catalyst if sanctions/operations remain manageable. This deal has been a primary driver of recent investor enthusiasm. Chevron Expands Venezuela Heavy Oil Footprint
• Positive Sentiment: Company commentary and coverage point to stronger Q1 profits given the higher price environment, supporting near‑term earnings expectations for CVX. Chevron Expects Higher Q1 Profits
• Neutral Sentiment: High‑profile bullish mentions (Jim Cramer) and positive sector notes have supported interest in Chevron, but such media-driven flows can be short‑lived and already factored into recent moves. Jim Cramer Says 'Buy Chevron'
• Neutral Sentiment: Multiple valuation and compare‑stock writeups (PBR vs CVX, DCF/price‑fairness pieces) are prompting debate over whether the recent pullback is a buying opportunity — these generate analyst attention but don’t change fundamentals immediately. PBR vs. CVX: Which Stock Is the Better Value Option?
• Negative Sentiment: Execution/notification uncertainty in Venezuela: Suelopetrol says it hasn’t been formally notified about Chevron’s expanded stake, introducing governance and implementation risk that could delay value realization from the asset‑swap. Suelopetrol Has Not Been Notified
• Negative Sentiment: Mixed analyst moves: while some firms/analysts turned more positive (RBC coverage noted), others (TD Cowen via press recaps) have trimmed expectations — these offsets can pressure the stock as investors reassess near‑term upside. TD Cowen Lowers Expectations

Wall Street Analyst Weigh In

CVX has been the topic of several analyst reports. Barclays increased their target price on Chevron from $172.00 to $180.00 and gave the stock an "equal weight" rating in a report on Monday, March 16th. HSBC raised Chevron from a "hold" rating to a "buy" rating and set a $215.00 target price on the stock in a report on Friday, March 20th. Jefferies Financial Group increased their target price on Chevron from $174.00 to $189.00 and gave the stock a "buy" rating in a report on Wednesday, January 14th. Weiss Ratings reissued a "hold (c)" rating on shares of Chevron in a report on Wednesday, January 21st. Finally, Melius Research raised Chevron from a "hold" rating to a "buy" rating and set a $205.00 target price on the stock in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, Chevron has an average rating of "Moderate Buy" and a consensus price target of $195.09.

Chevron Trading Down 1.2%

The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $368.29 billion, a P/E ratio of 27.76, a P/E/G ratio of 1.42 and a beta of 0.60. The firm has a 50-day moving average of $192.03 and a two-hundred day moving average of $168.52.

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

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were given a dividend of $1.78 per share. The ex-dividend date was Tuesday, February 17th. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. This is an increase from Chevron's previous quarterly dividend of $1.71. Chevron's dividend payout ratio is currently 106.91%.

Insider Buying and Selling at Chevron

In other Chevron news, insider Andrew Benjamin Walz sold 11,600 shares of the company's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $188.58, for a total value of $2,187,528.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the company's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $187.92, for a total value of $26,233,632.00. Following the completion of the transaction, the insider directly owned 11,337 shares of the company's stock, valued at approximately $2,130,449.04. The trade was a 92.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 779,407 shares of company stock worth $145,972,971 over the last quarter. 0.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chevron

A number of institutional investors and hedge funds have recently bought and sold shares of the company. WESPAC Advisors SoCal LLC acquired a new position in Chevron in the 1st quarter valued at approximately $239,000. McAlvany Wealth Management LLC acquired a new position in Chevron in the 4th quarter valued at approximately $1,729,000. J. Derek Lewis & Associates Inc. acquired a new position in Chevron in the 4th quarter valued at approximately $694,000. Cornerstone Planning LLC acquired a new position in Chevron in the 4th quarter valued at approximately $2,986,000. Finally, Rockefeller Capital Management L.P. increased its position in Chevron by 13.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,456,172 shares of the oil and gas company's stock valued at $221,936,000 after acquiring an additional 167,792 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

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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