Chevron (NYSE:CVX) Trading Up 1.9% - Here's Why

Key Points

• Shares climbed about 1.9% as analysts raised targets and sentiment improved, leaving Chevron with a consensus rating of Moderate Buy and a consensus price target near $198.
• Chevron is in advanced talks to sell Asian refining assets (including its 50% stake in Singapore Refining) to ENEOS to exit lower‑margin downstream businesses and redeploy capital to upstream projects, and it signed an MoU with Libya’s NOC to jointly assess shale basins that could add reserves if exploration succeeds.
• Investors should note a known near‑term headwind: management expects a $2.7B–$3.7B negative timing impact to Q1 results from mark‑to‑market derivatives and LIFO inventory effects, which may depress reported earnings despite strong cash flow.

Shares of Chevron Corporation (NYSE:CVX - Get Free Report) were up 1.9% on Tuesday . The stock traded as high as $189.96 and last traded at $188.2090. Approximately 10,620,222 shares traded hands during trading, a decline of 16% from the average daily volume of 12,712,725 shares. The stock had previously closed at $184.78.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Progress on Singapore/refining asset sale — Chevron is in advanced talks to sell regional assets (including its 50% stake in Singapore Refining) to Japan’s ENEOS, which would let Chevron exit lower‑margin downstream assets and redeploy proceeds to higher‑return upstream projects. Eneos in final talks for $2B in Asian assets from Chevron - Bloomberg
• Positive Sentiment: Libya memorandum of understanding — Libya’s NOC signed an MoU with Chevron to jointly assess shale oil & gas basins, giving Chevron optionality on long‑life, low‑cost resources that could materially add reserves if exploration pans out. Libya signs preliminary agreement with Chevron to assess shale oil and gas resources
• Positive Sentiment: Analyst estimate revisions — Scotiabank materially raised its FY2026–FY2027 EPS forecasts for Chevron, signaling improving analyst sentiment and supporting higher forward earnings expectations (note: Scotiabank still rates the stock "Sector Perform").
• Neutral Sentiment: Q1 earnings upcoming — Investors are positioning ahead of Chevron’s May 1 earnings release; preview pieces discuss expectations and trading strategies but the print and management commentary will be the immediate catalyst. Is Chevron Stock Worth Buying Ahead of Q1 Earnings Release?
• Neutral Sentiment: Industry/geo risk headlines — CEO comments on jet‑fuel tightness and Strait of Hormuz disruptions keep crude/refined‑product volatility elevated; this can boost commodity realizations but also increases operational uncertainty for refining and logistics.
• Negative Sentiment: Known Q1 accounting timing headwind — Management previously disclosed an expected negative timing effect (~$2.7B–$3.7B) to Q1 results from mark‑to‑market derivatives and LIFO inventory impacts; that will pressure near‑term reported earnings even if cash flow remains strong.

Analysts Set New Price Targets

Several research analysts recently weighed in on CVX shares. Tudor Pickering upgraded Chevron from a "hold" rating to a "buy" rating and set a $225.00 target price on the stock in a research note on Thursday, April 9th. Citigroup boosted their target price on Chevron from $210.00 to $235.00 and gave the stock a "buy" rating in a research note on Thursday, April 2nd. Jefferies Financial Group boosted their target price on Chevron from $174.00 to $189.00 and gave the stock a "buy" rating in a research note on Wednesday, January 14th. Weiss Ratings restated a "hold (c)" rating on shares of Chevron in a research note on Wednesday, January 21st. Finally, Wells Fargo & Company boosted their target price on Chevron from $204.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $198.09.

Chevron Stock Performance

The stock has a market capitalization of $374.97 billion, a PE ratio of 28.26, a PEG ratio of 0.78 and a beta of 0.60. 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 firm has a 50 day moving average price of $192.59 and a 200-day moving average price of $170.51.

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 (EPS) 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 firm had revenue of $45.79 billion during the quarter, compared to analysts' expectations of $48.18 billion. During the same period last year, the business posted $2.06 earnings per share. The company's revenue for the quarter was down 10.2% compared to the same quarter last year. Research analysts expect that Chevron Corporation will post 12.49 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were paid a $1.78 dividend. The ex-dividend date was Tuesday, February 17th. This is a positive change from Chevron's previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. Chevron's dividend payout ratio (DPR) is 106.91%.

Insider Transactions at Chevron

In other news, insider Andrew Benjamin Walz sold 22,200 shares of the company's stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $176.53, for a total value of $3,918,966.00. Following the sale, the insider owned 666 shares in the company, valued at $117,568.98. This represents a 97.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael K. Wirth sold 272,624 shares of the firm's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $189.35, for a total value of $51,621,354.40. Following the sale, the chief executive officer directly owned 31,266 shares in the company, valued at approximately $5,920,217.10. This trade represents a 89.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 779,407 shares of company stock valued at $145,972,971. 0.56% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chevron

A number of hedge funds and other institutional investors have recently made changes to their positions in CVX. Perigon Wealth Management LLC raised its holdings in shares of Chevron by 19.3% during the third quarter. Perigon Wealth Management LLC now owns 73,448 shares of the oil and gas company's stock valued at $11,406,000 after acquiring an additional 11,875 shares during the last quarter. Dakota Wealth Management increased its stake in Chevron by 14.9% during the fourth quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company's stock worth $12,690,000 after acquiring an additional 10,822 shares during the last quarter. Brooklyn FI LLC acquired a new stake in Chevron during the third quarter worth $431,000. New York State Teachers Retirement System increased its stake in Chevron by 15.3% during the third quarter. New York State Teachers Retirement System now owns 1,620,231 shares of the oil and gas company's stock worth $251,606,000 after acquiring an additional 215,345 shares during the last quarter. Finally, Clear Trail Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter valued at $10,167,000. 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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