Chevron (NYSE:CVX) Shares Up 1.6% – Here’s What Happened

Chevron Corporation (NYSE:CVX) shares shot up 1.6% on Tuesday . The company traded as high as $186.37 and last traded at $186.1250. 9,777,644 shares were traded during mid-day trading, a decline of 24% from the average session volume of 12,940,105 shares. The stock had previously closed at $183.25.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wheatstone LNG fully back online after cyclone repairs — Restoring full production at the Wheatstone liquefied natural gas plant in Western Australia removes a near-term supply disruption and supports Chevron’s near-term cash flow and LNG revenues. Chevron resumes full production at Wheatstone LNG after repairs for cyclone damage
• Positive Sentiment: Warren Buffett / long-term investor support — Coverage notes Buffett’s continued ownership and positive view of Chevron’s growing project pipeline, which can underpin investor confidence and demand for the stock as a stable cash-flow generator. Deepening Growth Pipeline Sustains Warren Buffett’s Confidence In Chevron (CVX)
• Positive Sentiment: Asset expansion in Venezuela — Chevron agreed an asset-swap that increases its stake in Venezuelan heavy-oil operations, a move that could boost long-term resource access and production optionality if political and operational risks are managed. Chevron Corporation (CVX) Expands Stakes in Venezuela Oil Operations
• Positive Sentiment: Analyst upgrades and bullish coverage — Recent analyst-positive pieces (BNP Paribas upgrade, inclusion on “best crude oil stocks” lists and industry bullish commentary) provide supportive narrative for multicurrency buy-side interest. Chevron Corporation (CVX): Among the Best Crude Oil Stocks to Buy According to Analysts
• Neutral Sentiment: Price-target change but no bullish rating shift — Scotiabank raised its Chevron price target to $187 while keeping a “sector perform” rating, a modest signal but not a clear buy recommendation. Scotiabank raises price target on Chevron
• Neutral Sentiment: Energy sector momentum — Broader energy indices are rising, which can lift CVX as a heavyweight in the sector; this is a market tailwind rather than company-specific news. Sector Update: Energy Stocks Rise Thursday
• Negative Sentiment: Pasadena refinery crude-oil spill — A reported crude spill at the Pasadena, Texas refinery creates potential near-term costs, regulatory attention and reputational risk; magnitude and remediation details will determine the financial impact. Chevron refinery in Pasadena, Texas reports crude oil spill

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CVX. JPMorgan Chase & Co. upgraded shares of Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 price objective on the stock in a report on Tuesday, January 20th. Jefferies Financial Group lifted their price target on shares of Chevron from $174.00 to $189.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Tudor Pickering upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target on the stock in a research note on Thursday, April 9th. Barclays lifted their price target on shares of Chevron from $172.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Monday, March 16th. Finally, TD Cowen cut their price target on shares of Chevron from $214.00 to $204.00 and set a “hold” rating on the stock in a research note on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $198.09.

Chevron Trading Up 0.7%

The firm has a market cap of $373.90 billion, a PE ratio of 28.18, a P/E/G ratio of 0.78 and a beta of 0.60. The company’s fifty day moving average price is $192.43 and its two-hundred day moving average price is $169.71. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. The firm had revenue of $45.79 billion for the quarter, compared to the consensus estimate of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The firm’s revenue was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.06 earnings per share. As a group, sell-side analysts forecast that Chevron Corporation will post 12.49 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were issued a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. This is a boost from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend was Tuesday, February 17th. Chevron’s payout ratio is currently 106.91%.

Insider Buying and Selling

In other news, insider Alana K. Knowles sold 2,408 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $183.28, for a total value of $441,338.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider R. Hewitt Pate sold 40,200 shares of the company’s stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the transaction, the insider directly owned 8,638 shares of the company’s stock, valued at $1,842,485.40. This trade represents a 82.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have 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

Several large investors have recently made changes to their positions in CVX. Pathway Financial Advisers LLC boosted its stake in Chevron by 5.7% during the 1st quarter. Pathway Financial Advisers LLC now owns 30,317 shares of the oil and gas company’s stock valued at $6,273,000 after acquiring an additional 1,642 shares during the last quarter. SJS Investment Consulting Inc. boosted its stake in Chevron by 8.7% during the 1st quarter. SJS Investment Consulting Inc. now owns 4,277 shares of the oil and gas company’s stock valued at $885,000 after acquiring an additional 344 shares during the last quarter. Moss Adams Wealth Advisors LLC boosted its stake in Chevron by 9.2% during the 1st quarter. Moss Adams Wealth Advisors LLC now owns 7,553 shares of the oil and gas company’s stock valued at $1,563,000 after acquiring an additional 639 shares during the last quarter. Private Wealth Management Group LLC boosted its stake in Chevron by 14.1% during the 1st quarter. Private Wealth Management Group LLC now owns 624 shares of the oil and gas company’s stock valued at $129,000 after acquiring an additional 77 shares during the last quarter. Finally, Drucker Wealth 3.0 LLC boosted its stake in Chevron by 2.2% during the 1st quarter. Drucker Wealth 3.0 LLC now owns 19,763 shares of the oil and gas company’s stock valued at $4,089,000 after acquiring an additional 434 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

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.