Chevron (NYSE:CVX) Trading Up 1.6% Following Analyst Upgrade

Key Points

• Shares rose about 1.6% after Royal Bank of Canada upgraded Chevron to an Outperform and raised its price target from $200 to $220, with the stock trading near $191.54 on the news.
• Company insiders have been net sellers recently — executives sold large blocks (e.g., Mark A. Nelson sold 139,600 shares) and insiders offloaded 782,607 shares worth roughly $146.5 million over the last three months.
• Chevron raised its quarterly dividend to $1.78 (annualized $7.12) for a yield of about 3.7%, while the payout ratio stands high at 106.91%, indicating dividends exceed current earnings.

Shares of Chevron Corporation (NYSE:CVX - Get Free Report) were up 1.6% during trading on Monday after Royal Bank Of Canada raised their price target on the stock from $200.00 to $220.00. Royal Bank Of Canada currently has an outperform rating on the stock. Chevron traded as high as $192.61 and last traded at $191.5410. Approximately 11,980,164 shares were traded during trading, a decline of 9% from the average daily volume of 13,138,477 shares. The stock had previously closed at $188.55.

Other analysts also recently issued research reports about the stock. TD Cowen dropped their target price on shares of Chevron from $214.00 to $204.00 and set a "hold" rating for the company in a research report on Monday. Zacks Research raised shares of Chevron from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 3rd. Barclays increased their target price on shares of Chevron from $172.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Monday, March 16th. Melius Research upgraded Chevron from a "hold" rating to a "buy" rating and set a $205.00 price target for the company in a report on Tuesday, February 17th. Finally, UBS Group reiterated a "buy" rating and issued a $212.00 price target on shares of Chevron in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, Chevron presently has an average rating of "Moderate Buy" and a consensus target price of $192.79.

Insider Buying and Selling

In other news, Vice Chairman Mark A. Nelson sold 139,600 shares of the firm's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the completion of the sale, the insider directly owned 11,337 shares in the company, valued at $2,130,449.04. This trade represents a 92.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider R. Hewitt Pate sold 40,200 shares of the firm's stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the sale, the insider owned 8,638 shares of the company's stock, valued at $1,842,485.40. This represents a 82.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 782,607 shares of company stock valued at $146,510,571 over the last three months. Company insiders own 0.20% of the company's stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Oil-price surge on geopolitical risk (U.S.-Iran talks failed / Strait of Hormuz actions) is lifting energy names, benefitting Chevron as a large integrated oil producer. What's Going On With Chevron Stock Monday?
• Positive Sentiment: Chevron announced an asset swap with PDVSA that increases its working interest in the Petroindependencia joint venture — a clear operational expansion in Venezuela's Orinoco heavy-oil belt that boosts production optionality. Chevron Consolidates Venezuela Heavy Oil Position in Asset Swap
• Positive Sentiment: Royal Bank of Canada raised its CVX price target to $220 with an Outperform rating, providing an analyst-driven upside narrative for the stock. Benzinga
• Positive Sentiment: 13F/filing coverage shows Berkshire Hathaway has been increasing its stake in Chevron, which investors often view as a confidence vote from a long-term, deep-pocketed buyer. Berkshire Hathaway Is Loading Up on These 4 Stocks
• Neutral Sentiment: Multiple outlets report Chevron and Shell are signing agreements in Venezuela to expand oil and gas operations — supportive for long-term capacity but dependent on implementation, local terms and oil-market cycles. Reuters: Chevron, Shell to sign agreements for oil, gas areas in Venezuela
• Neutral Sentiment: Energy-sector performance is mixed intraday, so broader sector weakness could cap gains even as Chevron benefits from idiosyncratic catalysts. Sector Update: Energy Stocks Mixed Late Afternoon
• Negative Sentiment: TD Cowen trimmed its price target (and maintains a Hold/neutral stance) and other analysts note near-term earnings headwinds — a reminder that higher oil prices don't fully negate operational and cyclical risks. TipRanks / TD Cowen coverage

Hedge Funds Weigh In On Chevron

A number of hedge funds have recently bought and sold shares of the company. Core Wealth Advisors LLC acquired a new position in shares of Chevron during the fourth quarter valued at $26,000. Phillip James Consulting Co. acquired a new position in shares of Chevron during the fourth quarter valued at $26,000. Basso Capital Management L.P. acquired a new position in shares of Chevron during the fourth quarter valued at $27,000. Karpus Management Inc. acquired a new position in shares of Chevron during the fourth quarter valued at $27,000. Finally, Quattro Advisors LLC acquired a new position in shares of Chevron during the fourth quarter valued at $27,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $191.51 and a 200-day moving average price of $168.12. The firm has a market capitalization of $381.61 billion, a price-to-earnings ratio of 28.76, a P/E/G ratio of 1.40 and a beta of 0.60.

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

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were given a dividend of $1.78 per share. This is a boost from Chevron's previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Tuesday, February 17th. Chevron's payout ratio is presently 106.91%.

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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