Chevron (NYSE:CVX) Reaches New 1-Year High – Still a Buy?

Posted by Francis Steltz on Sep 9th, 2026

Chevron Corporation (NYSE:CVX – Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $215.28 and last traded at $213.7840, with a volume of 1255769 shares. The stock had previously closed at $209.80.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

Positive Sentiment: Chevron plans to invest more than $7 billion over five years in Venezuela, add acreage in the Orinoco Belt, and double its operated drilling capacity. The company is targeting production of approximately 600,000 barrels per day by 2031, creating a potentially significant source of long-term volume growth. Chevron to double oil rigs in Venezuela as part of growth plan
Positive Sentiment: Analysts point to Chevron’s strong cash flow, Hess integration synergies, and financial flexibility as supports for the Venezuela investment and continued shareholder returns. Recent quarterly results also exceeded earnings and revenue expectations, reinforcing the bullish case.
Positive Sentiment: Oil prices have been supported by the continuing U.S.-Iran conflict and disruptions to traditional supply routes. Higher crude prices generally benefit Chevron’s upstream operations and have helped drive the broader energy-sector rally. Stock Market Today: Dow Dives, Oil Pops
Neutral Sentiment: Chevron’s dividend remains attractive to income investors, but generating $5,000 in annual passive income would require more than $146,000 at current prices. This highlights the stock’s appeal as an income holding rather than a near-term trading catalyst.
Negative Sentiment: The 600,000-barrel-per-day goal is several years away and could face delays from Venezuela’s aging infrastructure, operational constraints, regulatory changes, sanctions, and political instability. The large capital commitment also increases execution risk. Chevron Wants 600,000 Barrels a Day From Venezuela by 2031
Negative Sentiment: With CVX trading close to its record high after a powerful year-to-date rally, investors may demand evidence that Venezuela growth and elevated oil prices can justify the premium valuation. Any decline in crude prices or disappointment in project timelines could limit further upside.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. TD Cowen lifted their price objective on Chevron from $200.00 to $205.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Wells Fargo & Company upped their target price on shares of Chevron from $226.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. Bank of America raised their target price on shares of Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a report on Thursday, July 2nd. Finally, Piper Sandler increased their price objective on shares of Chevron from $207.00 to $243.00 and gave the company an “overweight” rating in a research report on Thursday, September 3rd. Twenty research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $211.35.

Get Our Latest Report on CVX

Chevron Trading Up 1.3%

The company has a 50-day moving average price of $192.79 and a 200-day moving average price of $190.20. The firm has a market capitalization of $419.97 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 0.61 and a beta of 0.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25.

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 the consensus estimate of $5.55 by $0.51. The business had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The business’s quarterly revenue was up 57.4% on a year-over-year basis. During the same quarter last year, the company earned $1.77 EPS. As a group, research analysts forecast that Chevron Corporation will post 16.51 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, August 19th. Chevron’s dividend payout ratio is currently 68.26%.

Insider Activity at Chevron

In other news, insider Andrew Walz sold 16,800 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the completion of the sale, the insider owned 14 shares in the company, valued at approximately $2,814.84. The trade was a 99.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R. Pate sold 2,470 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total transaction of $506,621.70. Following the completion of the transaction, the insider owned 10,794 shares of the company’s stock, valued at approximately $2,213,957.34. The trade was a 18.62% 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 ninety days. Company insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Chevron

Large investors have recently bought and sold shares of the stock. California State Teachers Retirement System lifted its holdings in shares of Chevron by 19,425.5% in the 2nd quarter. California State Teachers Retirement System now owns 432,663,934 shares of the oil and gas company’s stock valued at $71,718,374,000 after purchasing an additional 430,448,040 shares during the last quarter. BlackRock Inc. acquired a new position in Chevron during the second quarter worth approximately $25,663,729,000. Norges Bank acquired a new position in Chevron during the fourth quarter worth approximately $3,727,586,000. Bank of New York Mellon Corp purchased a new stake in Chevron in the second quarter valued at approximately $2,378,114,000. Finally, State Street Corp lifted its stake in Chevron by 9.1% in the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after buying an additional 12,789,399 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Company Profile

(Get Free Report)

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.