Shares of Chevron Corporation (NYSE:CVX – Get Free Report) traded up 1.9% on Wednesday . The company traded as high as $215.28 and last traded at $213.6890. Approximately 8,358,233 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 10,619,920 shares. The stock had previously closed at $209.80.
More Chevron News
Here are the key news stories impacting Chevron this week:
- Positive Sentiment: Chevron CFO Eimear Bonner said the company is “bigger, better and stronger,” highlighting cost efficiencies in U.S. shale, global expansion and plans to increase Venezuela production to approximately 600,000 barrels per day. The comments reinforce expectations for production growth and operating leverage. Chevron CFO Says Oil Giant Is Bigger, Better and Stronger Than We’ve Ever Been
- Positive Sentiment: Chevron plans to invest more than $7 billion over five years and double its Venezuelan rig count, adding acreage and potentially expanding production. If executed, the initiative could provide a meaningful long-term growth driver alongside Hess-related synergies and strong cash flow. Chevron to double oil rigs in Venezuela as part of growth plan
- Positive Sentiment: Chevron continues to attract income-focused investors because of its scale, financial strength and dividend profile. Rising oil prices could also support shareholder returns and free-cash-flow generation. Oil Prices Are Climbing, Yet These 3 Energy Stocks Yield 3%+
- Neutral Sentiment: Production, costs and free cash flow are improving, but Chevron’s return on invested capital has not kept pace. The disconnect could limit valuation upside unless capital investments generate stronger returns. CVX’s Operations and FCF Are Improving: Why Isn’t ROIC Keeping Up?
- Negative Sentiment: The Venezuela production target is ambitious and may take until 2031 to reach. Execution challenges, political and regulatory risks, and the large investment commitment could delay returns or increase project risk. Chevron Wants 600,000 Barrels a Day From Venezuela by 2031
Analyst Ratings Changes
CVX has been the subject of a number of recent analyst reports. Mizuho set a $224.00 target price on Chevron in a report on Monday, August 3rd. Sanford C. Bernstein upped their price objective on shares of Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. BMO Capital Markets raised their target price on shares of Chevron from $210.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, September 3rd. Wolfe Research raised shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a research note on Thursday, July 2nd. Finally, Wall Street Zen upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Twenty investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $211.35.
Chevron Price Performance
The firm has a market cap of $422.20 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 0.61 and a beta of 0.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The firm has a 50-day simple moving average of $192.79 and a 200 day simple moving average of $190.20.
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, topping the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The company had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. During the same period last year, the business earned $1.77 EPS. Chevron’s quarterly revenue was up 57.4% compared to the same quarter last year. As a group, equities analysts expect that Chevron Corporation will post 16.51 EPS for the current year.
Chevron Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Wednesday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 68.26%.
Insider Buying and Selling
In other Chevron news, CEO Michael K. Wirth sold 317,100 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $200.46, for a total value of $63,565,866.00. Following the sale, the chief executive officer directly owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. The trade was a 92.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andrew Walz sold 16,800 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the completion of the sale, the insider directly owned 14 shares in the company, valued at approximately $2,814.84. This represents a 99.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,152,582 shares of company stock valued at $225,853,661. 0.56% of the stock is owned by company insiders.
Hedge Funds Weigh In On Chevron
Hedge funds have recently bought and sold shares of the company. United Bank boosted its stake in Chevron by 7.7% during the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock valued at $1,586,000 after purchasing an additional 796 shares during the last quarter. Schnieders Capital Management LLC. raised its stake in shares of Chevron by 9.0% in the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock worth $7,280,000 after purchasing an additional 4,214 shares during the last quarter. BNP Paribas lifted its holdings in shares of Chevron by 76.4% during the second quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock valued at $63,000 after purchasing an additional 191 shares in the last quarter. Osterweis Capital Management Inc. lifted its holdings in shares of Chevron by 678.9% during the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock valued at $195,000 after purchasing an additional 1,188 shares in the last quarter. Finally, Main Street Financial Solutions LLC boosted its position in shares of Chevron by 3.6% during the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock valued at $2,299,000 after buying an additional 553 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.
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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