Chevron (NYSE:CVX) Reaches New 12-Month High - Time to Buy?

Key Points

• Chevron shares reached a new 52-week high of $217.65, supported by strong quarterly results, record production, improving earnings expectations and optimism over higher oil prices.
• The company is pursuing growth through global LNG opportunities and a technical consultancy agreement for Iraq’s West Qurna-2 oil field, while maintaining a quarterly dividend of $1.78 per share, or a 3.4% annualized yield.
• Analysts remain broadly positive, with 20 Buy ratings and an overall “Moderate Buy” consensus, but unresolved regulatory and political risks in Venezuela and substantial insider selling remain concerns.

Shares of Chevron Corporation (NYSE:CVX - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $217.65 and last traded at $211.9260, with a volume of 9362485 shares trading hands. The stock had previously closed at $214.06.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Global LNG expansion: Chevron is evaluating gas and LNG opportunities across Argentina, the Mediterranean, Africa and Australia, aiming to diversify supply and benefit from rising demand for secure energy supplies. The company also announced an LNG-related deal with an Indian buyer. Chevron eyes Argentina, Mediterranean for global LNG growth, deal with India
• Positive Sentiment: Higher oil-price outlook: Analysts point to tightening global oil buffers, Chevron’s record production, strong cash flow and improving earnings estimates as factors that could support additional upside if crude prices remain elevated. Chevron Sees Higher Oil Prices Ahead: Is It Set for More Upside?
• Positive Sentiment: Iraq growth option: Chevron signed a technical consultancy agreement for Iraq’s large West Qurna-2 oil field. Although the agreement does not immediately represent a full development contract, it could position Chevron for future upstream participation in a major producing asset. Chevron signs technical consultancy deal for Iraq’s huge West Qurna-2 oil field
• Neutral Sentiment: Dividend appeal: Commentary continues to highlight Chevron’s dividend and strong 2026 share performance, supporting its appeal to income-oriented investors, though it does not represent a new company announcement. Blue-Chip Stocks Are Looking Anything But Boring With Dividends and Big 2026 Gains
• Negative Sentiment: Venezuela uncertainty: Investors still lack clear results regarding Chevron’s Venezuela operations, leaving regulatory, political and execution risks unresolved. Chevron: Still Waiting For Clear Results From Venezuela

Analyst Ratings Changes

CVX has been the subject of several analyst reports. Mizuho set a $224.00 price target on shares of Chevron in a report on Monday, August 3rd. Jefferies Financial Group reiterated a "buy" rating and set a $216.00 price objective on shares of Chevron in a research report on Friday, July 10th. Wells Fargo & Company boosted their target price on shares of Chevron from $226.00 to $230.00 and gave the company an "overweight" rating in a report on Thursday, September 3rd. UBS Group reaffirmed a "buy" rating on shares of Chevron in a research report on Tuesday, June 23rd. Finally, Piper Sandler increased their price target on Chevron from $207.00 to $243.00 and gave the stock an "overweight" rating in a report on Thursday, September 3rd. Twenty investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $211.35.

Chevron Trading Down 1.0%

The business has a 50 day moving average of $196.40 and a two-hundred day moving average of $191.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The firm has a market capitalization of $418.72 billion, a price-to-earnings ratio of 20.32, a P/E/G ratio of 0.63 and a beta of 0.50.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping analysts' consensus estimates of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The company had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same period in the prior year, the firm earned $1.77 earnings per share. Chevron's revenue for the quarter was up 57.4% on a year-over-year basis. Equities analysts predict that Chevron Corporation will post 16.51 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were issued a dividend of $1.78 per share. The ex-dividend date was Wednesday, August 19th. This represents a $7.12 annualized dividend and a yield of 3.4%. Chevron's dividend payout ratio is presently 68.26%.

Insider Buying and Selling at Chevron

In other Chevron news, Director John Hess sold 710,665 shares of Chevron stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the transaction, the director directly owned 363,711 shares of the company's stock, valued at $70,596,305.10. The trade was a 66.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Wirth sold 317,100 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the completion of the sale, the chief executive officer owned 26,308 shares of the company's stock, valued at approximately $5,273,701.68. This trade represents a 92.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,152,582 shares of company stock worth $225,853,661 in the last quarter. 0.56% of the stock is owned by insiders.

Institutional Trading of Chevron

Institutional investors and hedge funds have recently modified their holdings of the business. Midwest Capital Advisors LLC bought a new stake in Chevron in the first quarter valued at about $25,000. Core Wealth Advisors LLC bought a new position in Chevron during the fourth quarter worth about $26,000. Phillip James Consulting Co. bought a new position in Chevron during the fourth quarter worth about $26,000. Basso Capital Management L.P. acquired a new position in shares of Chevron during the 4th quarter worth about $27,000. Finally, Main Street Group LTD acquired a new position in shares of Chevron during the 1st quarter worth about $28,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

About Chevron

Chevron Corporation is an integrated energy company engaged in the exploration, production, transportation and sale of crude oil and natural gas. The company also manufactures and markets transportation fuels, lubricants, petrochemicals and additives through operations and brands that include Chevron, Texaco and Caltex.

Chevron's upstream activities include oil and natural gas exploration and production, while its downstream business includes refining, fuel marketing, transportation and related energy services.

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