Chevron Corporation (NYSE:CVX – Get Free Report)’s stock price traded up 3% during trading on Friday. The stock traded as high as $233.74 and last traded at $233.3910. Approximately 8,127,792 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 10,359,218 shares. The stock had previously closed at $226.68.
Key Chevron News
Here are the key news stories impacting Chevron this week:
- Positive Sentiment: Analysts expect Chevron’s upcoming earnings report to show year-over-year growth, with estimates suggesting the company has favorable conditions for a potential earnings beat. Erste Group also raised its 2026 EPS forecast to $17.63 from $16.90, while Bank of America increased its price target to $252 from $227. Chevron Earnings Expected to Grow
- Positive Sentiment: Chevron plans to apply its Permian Basin operating approach in Argentina’s Vaca Muerta shale region, with a reported investment of approximately $13.8 billion. Expanding drilling and improving recovery could provide significant long-term production growth. Chevron uses Permian playbook in Argentina
- Positive Sentiment: Chevron is in preliminary talks to operate Iraq’s West Qurna 2 field, where officials see an opportunity to potentially double output. The opportunity could add production scale, although the agreement is not yet final. Chevron eyes Iraq’s West Qurna 2 field
- Positive Sentiment: The company is reportedly considering the sale of approximately $1 billion in mature U.S. Gulf assets. Proceeds could be redirected toward newer offshore projects and other higher-growth opportunities, supporting portfolio efficiency and capital allocation. Chevron eyes $1 billion Gulf asset sale
- Neutral Sentiment: Unusually high call-option activity indicates increased near-term bullish speculation, but options flows can be volatile and do not necessarily reflect fundamental buying.
- Negative Sentiment: Director R. Hewitt Pate sold 43,100 shares worth approximately $9.8 million across two transactions. The sales were conducted under a pre-arranged Rule 10b5-1 plan, limiting their value as a discretionary bearish signal, but the substantial reduction in ownership may weigh modestly on sentiment. Chevron insider trading filing
Analysts Set New Price Targets
Several analysts have weighed in on the company. BNP Paribas Exane cut their target price on Chevron from $230.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. Zacks Research upgraded Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Jefferies Financial Group lifted their target price on shares of Chevron from $216.00 to $233.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. The Goldman Sachs Group reissued a “buy” rating and set a $241.00 price target on shares of Chevron in a research report on Tuesday. Finally, Bank of America lifted their target price on shares of Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $213.96.
Get Our Latest Stock Report on CVX
Chevron Price Performance
The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average of $209.95 and a 200-day moving average of $194.11. The firm has a market capitalization of $461.13 billion, a P/E ratio of 22.38, a PEG ratio of 0.54 and a beta of 0.53.
Chevron (NYSE:CVX – Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%. The business had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same quarter in the prior year, the firm posted $1.77 earnings per share. The firm’s revenue for the quarter was up 57.4% compared to the same quarter last year. Equities analysts predict that Chevron Corporation will post 18.12 EPS for the current fiscal year.
Chevron Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were paid a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, August 19th. Chevron’s payout ratio is presently 68.26%.
Insider Activity at Chevron
In other Chevron news, Director John B. Hess sold 710,665 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the completion of the transaction, the director owned 363,711 shares of the company’s stock, valued at $70,596,305.10. This represents a 66.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael K. Wirth sold 317,100 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $200.46, for a total value of $63,565,866.00. Following the completion of the transaction, the chief executive officer owned 26,308 shares of the company’s stock, valued at $5,273,701.68. The trade was a 92.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,195,682 shares of company stock worth $235,619,780. Corporate insiders own 0.56% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. Simplicity Wealth LLC raised its position in Chevron by 10.8% during the third quarter. Simplicity Wealth LLC now owns 91,125 shares of the oil and gas company’s stock valued at $18,609,000 after purchasing an additional 8,903 shares in the last quarter. Ascent Wealth Partners LLC lifted its stake in Chevron by 2.7% during the third quarter. Ascent Wealth Partners LLC now owns 6,431 shares of the oil and gas company’s stock worth $1,313,000 after purchasing an additional 168 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of Chevron by 1.2% in the 3rd quarter. Evergreen Capital Management LLC now owns 50,164 shares of the oil and gas company’s stock valued at $10,244,000 after purchasing an additional 591 shares in the last quarter. Mascoma Wealth Management LLC boosted its holdings in shares of Chevron by 127.5% in the 3rd quarter. Mascoma Wealth Management LLC now owns 678 shares of the oil and gas company’s stock valued at $138,000 after purchasing an additional 380 shares in the last quarter. Finally, Gibbs Wealth Management boosted its holdings in shares of Chevron by 19.7% in the 3rd quarter. Gibbs Wealth Management now owns 20,484 shares of the oil and gas company’s stock valued at $4,183,000 after purchasing an additional 3,366 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.
About Chevron
Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.
The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.
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