Chevron (NYSE:CVX) Trading Up 1.3% - What's Next?

Key Points

• Chevron shares rose 1.3% in mid-day trading, touching $191.48 before last trading near $190, though volume was below average.
• Investors are watching Chevron’s $13.8 billion Argentina Vaca Muerta shale investment, which could boost production and long-term cash flow if it gains approval under the country’s incentive program.
• Wall Street sentiment remains constructive, with multiple analysts raising targets and the stock carrying a Moderate Buy consensus and a $205.70 average price target.

Shares of Chevron Corporation (NYSE:CVX - Get Free Report) shot up 1.3% during mid-day trading on Wednesday . The stock traded as high as $191.48 and last traded at $190.0020. 7,221,983 shares were traded during mid-day trading, a decline of 40% from the average session volume of 12,054,219 shares. The stock had previously closed at $187.55.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s planned $13.8 billion investment in Argentina’s Vaca Muerta shale project could expand production and long-term cash flow if approved under the country’s incentive program. Reuters: Chevron applies for Argentina tax break program with $13.8 billion investment plan
• Positive Sentiment: Analyst and media coverage remains favorable, with Wall Street sentiment described as bullish and valuation-focused coverage arguing Chevron looks undervalued versus peers. Zacks: Is It Worth Investing in Chevron (CVX) Based on Wall Street's Bullish Views?
• Positive Sentiment: Chevron continues to attract income investors as a high-yield dividend name, supporting demand for the shares in a market that values cash returns. Blockonomi: Top 5 High-Yield Dividend Stocks for Income Investors in 2026
• Neutral Sentiment: Chevron’s legal leadership transition and shareholder voting results suggest continuity in governance, with no major red flags from the proposals that were rejected. Yahoo Finance: How Chevron’s Legal Leadership Shift And Shareholder Votes At Chevron (CVX) Have Changed Its Investment Story

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CVX. BNP Paribas Exane raised Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 target price for the company in a report on Friday, April 17th. Barclays upped their target price on Chevron from $192.00 to $213.00 and gave the company an "equal weight" rating in a report on Tuesday, May 26th. Royal Bank Of Canada reissued an "outperform" rating and set a $220.00 price objective on shares of Chevron in a report on Tuesday, May 5th. Tudor Pickering raised Chevron from a "hold" rating to a "buy" rating and set a $225.00 price objective for the company in a report on Thursday, April 9th. Finally, Bank of America increased their price objective on Chevron from $188.00 to $206.00 and gave the company a "buy" rating in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $205.70.

Chevron Stock Up 1.3%

The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company has a market cap of $378.41 billion, a PE ratio of 32.93, a P/E/G ratio of 0.61 and a beta of 0.48. The stock has a 50-day moving average of $191.96 and a 200-day moving average of $176.04.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. During the same quarter last year, the business posted $2.18 earnings per share. The firm's revenue was up 2.1% compared to the same quarter last year. Sell-side analysts predict that Chevron Corporation will post 15.74 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be paid a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis 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%.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 380,000 shares of the firm's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider R. Hewitt Pate sold 47,200 shares of the firm's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $192.12, for a total value of $9,068,064.00. Following the completion of the sale, the insider directly owned 8,558 shares in the company, valued at $1,644,162.96. The trade was a 84.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 662,400 shares of company stock worth $127,090,824 over the last ninety days. Insiders own 0.56% of the company's stock.

Hedge Funds Weigh In On Chevron

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Chevron by 17.9% during the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company's stock valued at $28,540,753,000 after purchasing an additional 27,961,463 shares during the last quarter. State Street Corp grew its position in shares of Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company's stock valued at $23,698,184,000 after acquiring an additional 12,789,399 shares during the period. Berkshire Hathaway Inc grew its position in shares of Chevron by 6.6% during the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company's stock valued at $19,837,131,000 after acquiring an additional 8,091,570 shares during the period. Geode Capital Management LLC grew its position in shares of Chevron by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company's stock valued at $6,620,187,000 after acquiring an additional 134,890 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Chevron by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company's stock valued at $5,492,377,000 after acquiring an additional 961,341 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

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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