Chevron (NYSE:CVX) Shares Up 2% – Should You Buy?

Chevron Corporation (NYSE:CVX)’s stock price was up 2% on Thursday . The stock traded as high as $169.55 and last traded at $169.0640. Approximately 9,511,570 shares changed hands during trading, a decline of 19% from the average session volume of 11,689,808 shares. The stock had previously closed at $165.69.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wolfe Research upgraded Chevron (CVX) to Outperform from Peer Perform, saying the recent pullback has made the shares more attractive and that improving long-term free cash flow prospects are not fully reflected in the stock price. Wolfe Research upgrades Chevron to Outperform on strong cash flow outlook
• Positive Sentiment: Chevron announced its 2Q 2026 earnings conference call and webcast, reinforcing investor focus on the upcoming results and management commentary. Advisory: Chevron Corporation’s 2Q 2026 Earnings Conference Call and Webcast
• Positive Sentiment: Articles highlighted Chevron’s 20-year Microsoft AI data-center power deal, with the company expanding into natural-gas-fired electricity supply for AI infrastructure and evaluating more U.S. data-center projects. Chevron (CVX) Just Signed A 20 Year Microsoft AI Data Center Power Deal
• Neutral Sentiment: Multiple pieces emphasized Chevron’s appeal as a high-dividend stock, pointing to its roughly 4%+ yield and long record of dividend growth, which supports the shares but is not a new catalyst. Should You Buy Chevron While It’s Below $180 or Wait for a Bigger Dip?
• Neutral Sentiment: Research updates also noted modestly higher FY2026 earnings estimates, suggesting stable fundamentals rather than a major near-term surprise.
• Negative Sentiment: Other coverage pointed to lower oil prices as a headwind for Chevron and the broader energy sector, which could pressure earnings expectations and limit upside. Oil’s 4-month low hands Exxon, Chevron a fresh problem
• Negative Sentiment: Some analyst commentary also noted that energy shares may have less room to run than tech as oil retreats, and Morgan Stanley reportedly lowered its price target on Chevron, reinforcing a more cautious near-term view. Chevron (CVX) Price Target Lowered at Morgan Stanley. Here is Why

Analyst Upgrades and Downgrades

Several analysts have recently commented on CVX shares. Weiss Ratings downgraded shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Barclays upped their target price on shares of Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 26th. Mizuho increased their price target on Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. HSBC raised Chevron from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a report on Friday, March 20th. Finally, Sanford C. Bernstein lowered their price objective on Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a research report on Monday, May 11th. Nineteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.71.

Chevron Stock Performance

The firm’s 50-day moving average price is $183.99 and its 200-day moving average price is $180.34. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The stock has a market cap of $336.71 billion, a P/E ratio of 29.30, a PEG ratio of 0.55 and a beta of 0.50.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. During the same period last year, the company posted $2.18 earnings per share. Chevron’s quarterly revenue was up 2.1% on a year-over-year basis. Sell-side analysts expect that Chevron Corporation will post 15.52 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were issued a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 4.2%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is currently 123.40%.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $53,718,294. This represents a 57.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is currently owned by insiders.

Institutional Trading of Chevron

Large investors have recently made changes to their positions in the business. United Bank boosted its holdings in shares of Chevron by 7.7% in the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock worth $1,586,000 after purchasing an additional 796 shares during the period. Schnieders Capital Management LLC. boosted its stake in Chevron by 9.0% during 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 buying an additional 4,214 shares during the period. BNP Paribas raised its stake in shares of Chevron by 76.4% in the second quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock valued at $63,000 after acquiring an additional 191 shares during the period. Osterweis Capital Management Inc. boosted its stake in shares of Chevron by 678.9% during the 2nd quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock worth $195,000 after purchasing an additional 1,188 shares during the period. Finally, Main Street Financial Solutions LLC raised its position in Chevron by 3.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock worth $2,299,000 after purchasing an additional 553 shares during the period. 72.42% of the stock is currently 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.