Chevron (NYSE:CVX) Trading 2.3% Higher - What's Next?

Key Points

• Chevron shares rose 2.3% in mid-day trading, with the stock moving as high as $191.50 as investors reacted to a mix of company news and broader energy-sector sentiment.
• The biggest catalyst was Chevron’s agreement to sell its Singapore refinery stake and other Southeast Asia/Australia downstream assets to ENEOS for about $2.2 billion, a move that could improve portfolio efficiency and balance-sheet flexibility.
• Wall Street sentiment remains constructive: several analysts recently raised ratings or price targets, and Chevron’s dividend of $1.78 per share keeps its yield around 3.7% even as insiders have been selling shares.

Chevron Corporation (NYSE:CVX - Get Free Report)'s share price was up 2.3% during mid-day trading on Friday . The company traded as high as $191.50 and last traded at $190.91. Approximately 11,029,428 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 12,301,032 shares. The stock had previously closed at $186.64.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to sell its Singapore refinery stake and other Southeast Asia/Australia downstream assets to ENEOS for roughly $2.17 billion-$2.2 billion, a move that could improve portfolio efficiency and strengthen balance-sheet flexibility. Reuters: Eneos to buy Chevron's stake in Singapore Refining and other assets for $2.2 billion
• Positive Sentiment: Jim Cramer’s bullish view on Chevron, telling investors to “pull the trigger,” may have added to sentiment around the stock and reinforced the idea that CVX remains attractive after recent weakness. Insider Monkey: Jim Cramer on Chevron: “I’m Going to Say Pull the Trigger”
• Neutral Sentiment: A recent article argued that Chevron’s weaker reported earnings did not tell the whole story, suggesting the market may be looking past the quarter’s headline miss and focusing more on underlying asset quality and strategic actions. Yahoo Finance: Weak Statutory Earnings May Not Tell The Whole Story For Chevron
• Neutral Sentiment: Chevron also remains in the broader energy-stock conversation as investors weigh oil prices, capital spending discipline, and comparisons with peers like TotalEnergies; this is background context rather than a direct company-specific catalyst. Motley Fool: Chevron vs. TotalEnergies: What's the Better Energy Buy?
• Negative Sentiment: Analyst commentary from Morgan Stanley focused on spending discipline across oil companies, a reminder that Chevron could face pressure if investors believe capital returns are being diluted by overly aggressive investment plans. TheStreet: Morgan Stanley cuts to chase on Chevron, oil stock prices

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Zacks Research upgraded shares of Chevron from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 3rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Chevron in a research report on Wednesday, January 21st. JPMorgan Chase & Co. upgraded shares of Chevron from a "neutral" rating to an "overweight" rating and set a $176.00 price objective on the stock in a research report on Tuesday, January 20th. Mizuho lifted their price objective on shares of Chevron from $206.00 to $217.00 and gave the company an "outperform" rating in a research report on Tuesday, March 17th. Finally, Morgan Stanley lifted 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. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of "Moderate Buy" and a consensus target price of $204.13.

Chevron Price Performance

The company's 50 day moving average price is $193.04 and its 200-day moving average price is $173.13. The company has a market cap of $380.22 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 0.63 and a beta of 0.51. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $2.18 earnings per share. On average, equities research analysts forecast that Chevron Corporation will post 15.23 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be given a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron's dividend payout ratio (DPR) is 123.40%.

Insiders Place Their Bets

In other news, Vice Chairman Mark A. Nelson sold 139,600 shares of Chevron stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $187.92, for a total value of $26,233,632.00. Following the transaction, the insider directly owned 11,337 shares of the company's stock, valued at $2,130,449.04. This trade represents a 92.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider R. Hewitt Pate sold 58,000 shares of Chevron stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $188.65, for a total transaction of $10,941,700.00. Following the completion of the transaction, the insider directly owned 8,558 shares in the company, valued at approximately $1,614,466.70. This trade represents a 87.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 803,570 shares of company stock valued at $151,969,798 over the last 90 days. 0.56% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dakota Wealth Management boosted its holdings in shares of Chevron by 14.9% during the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company's stock worth $12,690,000 after buying an additional 10,822 shares during the period. Brooklyn FI LLC bought a new stake in shares of Chevron during the 3rd quarter worth $431,000. Clear Trail Advisors LLC bought a new stake in shares of Chevron during the 4th quarter worth $10,167,000. Finemark National Bank & Trust raised its stake in Chevron by 40.3% during the 3rd quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company's stock valued at $8,779,000 after purchasing an additional 16,243 shares during the last quarter. Finally, Curtis Advisory Group LLC acquired a new position in Chevron during the 4th quarter valued at $1,381,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

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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