Chevron (NYSE:CVX) Stock Price Down 3% - Here's Why

Key Points

• Chevron shares fell 3% on Wednesday, trading as low as $191.27 after closing the prior session at $197.25, with volume running above average.
• Despite the pullback, the article highlights several bullish factors, including oil prices staying above $100, positive analyst commentary, and a consensus rating of Moderate Buy with a $204.13 price target.
• Berkshire Hathaway trimming its Chevron stake remains a modest headwind, while insider selling by Chevron executives and directors adds to recent investor caution.

Chevron Corporation (NYSE:CVX - Get Free Report)'s share price traded down 3% on Wednesday . The stock traded as low as $191.27 and last traded at $191.3920. 14,540,458 shares traded hands during trading, an increase of 18% from the average session volume of 12,284,290 shares. The stock had previously closed at $197.25.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: West Texas Intermediate crude remains above $100, keeping Chevron and other Permian-focused producers in the spotlight as investors expect stronger upstream cash flow and continued efficiency gains. Oil Remains Above $100: Are Permian Stocks a Smart Bet Now?
• Positive Sentiment: Barrons said Chevron stock can keep rising, arguing that higher oil prices and the company’s strong fundamentals leave room for additional upside. Oil Prices Are Rising and So Is Chevron Stock. It Can Keep Going.
• Positive Sentiment: Analyst commentary highlighted Chevron as an attractive long-term energy name, with revised earnings estimates and bullish comparisons versus peers supporting sentiment. Earnings Estimates Rising for Chevron (CVX): Will It Gain?
• Positive Sentiment: Several pieces pointed to Chevron as a favored income and blue-chip energy holding, suggesting investors continue to view the stock as a durable long-term portfolio name. Buy 5 Blue-Chip Stocks to Enhance Your Portfolio Returns in 2026
• Neutral Sentiment: Multiple articles compared Chevron with ExxonMobil and Shell, reinforcing that CVX remains a key benchmark among integrated oil majors rather than introducing a new company-specific catalyst. Shell vs. Chevron: Which Integrated Oil Major Has the Upper Hand?
• Neutral Sentiment: Chevron also saw unusual call buying, which can signal speculative optimism, but it does not by itself explain a major fundamental change. Warren Buffett’s Berkshire Hathaway Dumped 16 Stocks in Q1, But the Chevron Sale Was the Largest
• Negative Sentiment: Berkshire Hathaway trimming its Chevron stake remains a modest overhang, even though the position is still substantial and the move does not appear to signal a full exit. Berkshire Hathaway Trims Stake in Chevron (CVX)

Analyst Ratings Changes

Several analysts have weighed in on the stock. Argus set a $203.00 price objective on shares of Chevron in a research note on Tuesday, February 3rd. Wall Street Zen raised shares of Chevron from a "sell" rating to a "hold" rating in a research note on Saturday, January 31st. BNP Paribas Exane raised shares of 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. The Goldman Sachs Group reaffirmed a "buy" rating and set a $216.00 price objective on shares of Chevron in a research note on Wednesday, May 6th. Finally, TD Cowen upped their price objective on shares of Chevron from $204.00 to $205.00 and gave the stock a "hold" rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Chevron presently has a consensus rating of "Moderate Buy" and a consensus price target of $204.13.

Chevron Trading Down 3.0%

The business's fifty day simple moving average is $193.41 and its 200 day simple moving average is $173.98. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock has a market cap of $381.18 billion, a P/E ratio of 33.17, a price-to-earnings-growth ratio of 0.66 and a beta of 0.51.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 EPS 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 for the quarter, compared to analyst estimates of $51.86 billion. During the same quarter in the prior year, the firm earned $2.18 EPS. The company's revenue was up 2.1% on a year-over-year basis. As a group, analysts expect that Chevron Corporation will post 15.43 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be issued a dividend of $1.78 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. Chevron's dividend payout ratio is currently 123.40%.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 272,624 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $189.35, for a total transaction of $51,621,354.40. Following the sale, the chief executive officer owned 31,266 shares of the company's stock, valued at $5,920,217.10. This represents a 89.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Hess sold 195,000 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $184.78, for a total transaction of $36,032,100.00. Following the sale, the director directly owned 658,045 shares in the company, valued at approximately $121,593,555.10. This represents a 22.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 799,699 shares of company stock worth $151,259,517. 0.56% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Dakota Wealth Management lifted its stake in Chevron by 14.9% in the fourth quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company's stock valued at $12,690,000 after buying an additional 10,822 shares in the last quarter. Brooklyn FI LLC bought a new position in Chevron in the third quarter valued at approximately $431,000. Clear Trail Advisors LLC bought a new position in Chevron in the fourth quarter valued at approximately $10,167,000. Finemark National Bank & Trust lifted its stake in Chevron by 40.3% in the third quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company's stock valued at $8,779,000 after buying an additional 16,243 shares in the last quarter. Finally, Curtis Advisory Group LLC bought a new position in Chevron in the fourth quarter valued at approximately $1,381,000. Institutional investors 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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