Citigroup Has Lowered Expectations for Chevron (NYSE:CVX) Stock Price

Key Points

• Citigroup lowered its Chevron price target from $185 to $179 but kept a "buy" rating, implying about a 9.63% upside from the current price.
• Analyst consensus is mixed: the average rating is "Hold" with an average price target of $166.90, based on 1 Strong Buy, 12 Buys, 9 Holds and 3 Sells.
• Chevron shares jumped to $163.28 on news of potential U.S. access to Venezuelan oil, though analysts warn sanctions, legal claims and damaged infrastructure mean any gains could be costly and long‑dated.

Chevron (NYSE:CVX - Get Free Report) had its target price reduced by research analysts at Citigroup from $185.00 to $179.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the oil and gas company's stock. Citigroup's price target suggests a potential upside of 9.63% from the company's current price.

Other equities research analysts also recently issued reports about the stock. HSBC set a $169.00 price target on Chevron and gave the company a "buy" rating in a research note on Monday, December 1st. Raymond James Financial reissued an "outperform" rating and set a $160.00 target price (down from $170.00) on shares of Chevron in a report on Friday, October 17th. UBS Group reaffirmed a "buy" rating on shares of Chevron in a research note on Monday, December 1st. Sanford C. Bernstein increased their price objective on shares of Chevron from $170.00 to $172.00 and gave the stock a "market perform" rating in a research note on Monday. Finally, Hsbc Global Res upgraded shares of Chevron from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $166.90.

Chevron Stock Performance

CVX traded up $7.38 during trading hours on Monday, reaching $163.28. The company's stock had a trading volume of 15,609,849 shares, compared to its average volume of 9,531,044. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 1.15. The company's 50-day moving average is $151.88 and its 200-day moving average is $153.09. Chevron has a 52 week low of $132.04 and a 52 week high of $168.96. The firm has a market cap of $328.76 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 9.76 and a beta of 0.70.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. The business had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a net margin of 6.57% and a return on equity of 8.74%. Chevron's revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.48 EPS. On average, equities analysts forecast that Chevron will post 10.79 EPS for the current year.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 275,000 shares of the company's stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the sale, the director owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. The trade was a 19.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Quaker Wealth Management LLC increased its holdings in shares of Chevron by 197.7% during the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company's stock valued at $31,000 after acquiring an additional 439 shares in the last quarter. Decker Retirement Planning Inc. bought a new position in shares of Chevron during the third quarter valued at about $34,000. Vermillion & White Wealth Management Group LLC increased its stake in Chevron by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company's stock valued at $37,000 after buying an additional 118 shares during the last quarter. IMG Wealth Management Inc. lifted its position in shares of Chevron by 52.3% during the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company's stock worth $38,000 after buying an additional 91 shares in the last quarter. Finally, Marquette Asset Management LLC bought a new position in shares of Chevron in the third quarter valued at approximately $41,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Market reaction: U.S. oil stocks, including Chevron, jumped in premarket trading as investors bet that U.S. actions could allow American firms greater access to Venezuela’s oil reserves, boosting growth prospects for majors. Reuters: Chevron, US refiners' shares surge
• Positive Sentiment: Presidential backing: President Trump publicly pledged to revive Venezuela’s energy sector and said U.S. companies would be involved — a political signal that investors see as lowering the likelihood of prolonged market exclusion. Financial Post: Chevron, US Oil Stocks Rally
• Positive Sentiment: Deal flow interest: Reports say former Chevron executives and private groups are lining up capital (~$2bn reported) to develop Venezuelan projects if access opens — signaling potential partners and investment appetite that could shorten Chevron’s path into the market. Reuters: Former Chevron executive seeks $2 billion
• Neutral Sentiment: Crude prices mixed: Despite the equity rally, crude markets showed limited follow‑through — oil prices have not spiked, which suggests any corporate benefit is not yet reflected in commodity fundamentals. Barron's: Oil stocks surge but crude not moving much
• Neutral Sentiment: Corporate caution: Chevron’s public comments emphasize employee safety and asset integrity; the company has not committed to investments in Venezuela and is likely to wait for clear legal and operational frameworks. Forbes: U.S. oil stocks surge; companies mum
• Negative Sentiment: Big risks and long timelines: Analysts warn that sanctions, legal claims, damaged infrastructure and operational risks in Venezuela mean access — even if politically approved — would be costly, slow and contested; benefits to CVX may be incremental and long‑dated. Forbes: Why Venezuelan oil may not make CVX a buy

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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