Chevron (NYSE:CVX) Trading Down 2.1% – What’s Next?

Chevron Corporation (NYSE:CVX) shares traded down 2.1% on Thursday . The stock traded as low as $185.55 and last traded at $185.8060. 7,989,213 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 11,805,080 shares. The stock had previously closed at $189.80.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s Tengiz project expansion is being highlighted as a major growth driver, with output capacity now reaching 1 million BOE/day and supporting cash flow, production growth, and shareholder returns through 2030. How Investment in TCO Is Powering Chevron’s Next Wave of Cash Growth
• Positive Sentiment: Analysts at Erste Group raised FY2027 earnings estimates for Chevron, suggesting confidence in longer-term profitability and operational strength. Brokerage update on Chevron earnings estimates
• Positive Sentiment: Several articles describe Chevron as a top dividend or “buy now” energy name, reinforcing its appeal as a cash-generating, income-oriented stock. Brent Oil Just Fell Below $90 a Barrel. 3 Top Oil Stocks to Buy Now.
• Neutral Sentiment: Chevron’s CFO discussed how the company is using AI in finance, which is strategically interesting but not a major immediate stock catalyst. Chevron’s CFO on why finance chiefs are defining AI’s business value
• Neutral Sentiment: Commentary around Chevron’s valuation and technical setup points to improving momentum, but it is mainly market analysis rather than new company-specific news. Assessing Chevron (CVX) Valuation After Recent Gains And Mixed Undervaluation Signals
• Negative Sentiment: Chevron was downgraded by Zacks Research from “strong-buy” to “hold,” which may weigh on sentiment even though the broader analyst view remains moderately positive. Zacks downgrade notice

Analyst Ratings Changes

CVX has been the topic of a number of research analyst reports. Zacks Research cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday. Citigroup boosted their target price on Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Wells Fargo & Company upped their price target on Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. BNP Paribas Exane upgraded Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target on the stock in a report on Friday, April 17th. Finally, Sanford C. Bernstein reduced their price objective on Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research note on Monday, May 11th. Eighteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.70.

Chevron Price Performance

The stock has a market cap of $370.05 billion, a PE ratio of 32.20, a P/E/G ratio of 0.62 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The business has a 50 day moving average price of $189.38 and a two-hundred day moving average price of $177.75.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The company had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.Chevron’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted $2.18 earnings per share. Research analysts expect that Chevron Corporation will post 15.74 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were given a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. Chevron’s dividend payout ratio (DPR) is currently 123.40%.

Insiders Place Their Bets

In other news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director directly owned 278,045 shares in the company, valued at $53,718,294. The trade was a 57.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider R. Hewitt Pate sold 40,200 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 8,638 shares in the company, valued at $1,842,485.40. This trade represents a 82.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 615,200 shares of company stock worth $118,022,760 over the last quarter. Company insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

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

About Chevron

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.