Chevron (NYSE:CVX) Shares Down 2.9% – Here’s What Happened

Chevron Corporation (NYSE:CVX) fell 2.9% during mid-day trading on Wednesday . The stock traded as low as $210.37 and last traded at $211.3970. Approximately 8,018,923 shares were traded during trading, a decline of 24% from the average session volume of 10,563,875 shares. The stock had previously closed at $217.77.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s expanded Venezuelan joint ventures add Orinoco Belt acreage and improved fiscal, commercial and legal terms. The company plans to invest more than $7 billion over five years to increase production, potentially strengthening long-term cash flow if execution and Venezuelan operating conditions remain favorable. Will Chevron’s Expanded Venezuelan Oil Ventures Redefine Its Long-Term Cash Flow Narrative?
• Positive Sentiment: Higher oil prices, fueled by attacks on Saudi energy infrastructure and concerns about supply disruptions, are supportive of Chevron’s upstream earnings and may improve the economics of its Venezuelan investments. Oil Crisis Worsens, Diesel Hits Record High
• Positive Sentiment: The company is pursuing LNG opportunities in Argentina, the Mediterranean, Africa and Australia, targeting growing Asian demand. Diversification into gas could reduce reliance on crude prices over time. Chevron Targets Argentina, Mediterranean in Global LNG Push
• Neutral Sentiment: Chevron’s strong downstream performance and a power agreement with Microsoft are being presented as potentially repeatable businesses less dependent on oil prices, though investors are assessing whether those benefits are already reflected in the valuation. Chevron Doesn’t Need Oil to Hit New Highs
• Negative Sentiment: The planned Venezuelan spending commitment increases capital requirements and exposes Chevron to political, legal, operational and sanctions-related risks in a challenging oil-producing region. Investors may also be taking profits after the recent rally and 52-week high.
• Negative Sentiment: Management’s warnings of a global fuel crisis highlight supply constraints but also raise concerns about geopolitical instability, refining disruptions and broader market volatility—factors that can pressure energy stocks despite higher oil prices. Chevron CEO Warns a Global Fuel Crisis Is Already Here

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CVX. BMO Capital Markets lifted their target price on Chevron from $210.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, September 3rd. Wolfe Research raised Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a research note on Thursday, July 2nd. Mizuho set a $224.00 price objective on shares of Chevron in a research note on Monday, August 3rd. Wells Fargo & Company upped their price objective on shares of Chevron from $226.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. Finally, Wall Street Zen raised shares of Chevron from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Twenty investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $211.35.

Chevron Trading Down 2.9%

The firm has a market capitalization of $417.67 billion, a P/E ratio of 20.27, a price-to-earnings-growth ratio of 0.62 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. The firm has a 50 day moving average price of $197.27 and a two-hundred day moving average price of $191.24.

Chevron (NYSE:CVX) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $62.72 billion. During the same period in the previous year, the firm posted $1.77 EPS. The company’s quarterly revenue was up 57.4% on a year-over-year basis. On average, equities research analysts expect that Chevron Corporation will post 16.51 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were issued a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Wednesday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 68.26%.

Insider Activity

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 sale, the insider owned 14 shares in the company, valued at $2,814.84. The trade was a 99.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R. Pate sold 2,470 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total transaction of $506,621.70. Following the completion of the transaction, the insider directly owned 10,794 shares of the company’s stock, valued at $2,213,957.34. This represents a 18.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,152,582 shares of company stock valued at $225,853,661. 0.56% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Chevron in the 2nd quarter valued at about $25,663,729,000. Norges Bank acquired a new stake in shares of Chevron during the fourth quarter worth approximately $3,727,586,000. Bank of New York Mellon Corp purchased a new position in Chevron during the second quarter valued at approximately $2,378,114,000. Legal & General Group Plc acquired a new position in Chevron in the 2nd quarter valued at approximately $1,462,412,000. Finally, Berkshire Hathaway Inc increased its stake in Chevron by 6.6% in the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock valued at $19,837,131,000 after buying an additional 8,091,570 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Company Profile

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.