Chevron (NYSE:CVX) Stock Price Down 1.3% on Analyst Downgrade

Chevron Corporation (NYSE:CVX)’s share price fell 1.3% during mid-day trading on Tuesday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $185.47 and last traded at $186.7790. 7,808,671 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 11,851,628 shares. The stock had previously closed at $189.24.

Several other research firms have also commented on CVX. Mizuho raised their price target on Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Sanford C. Bernstein lowered their target price on Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a report on Monday, May 11th. BNP Paribas Exane raised Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 target price for the company in a research report on Friday, April 17th. Barclays increased their price target on shares of Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 26th. Finally, UBS Group raised their price objective on shares of Chevron from $218.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $205.70.

Insider Buying and Selling at Chevron

In related news, insider R. Hewitt Pate sold 40,200 shares of the company’s stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the transaction, the insider directly owned 8,638 shares of the company’s stock, valued at $1,842,485.40. This represents a 82.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 380,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the sale, the director directly owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 615,200 shares of company stock valued at $118,022,760. Corporate insiders own 0.56% of the company’s stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Analysts highlighted Chevron’s Tengiz (TCO) project expansion, which is lifting output capacity to 1 million BOE/d and could drive higher cash flow, production growth, and shareholder returns through 2030. How Investment in TCO Is Powering Chevron’s Next Wave of Cash Growth
• Positive Sentiment: Chevron is being discussed favorably as a dividend and retirement stock, reinforcing its appeal to income investors and supporting demand for the shares. Brent Oil Just Fell Below $90 a Barrel. 3 Top Oil Stocks to Buy Now.
• Positive Sentiment: Market commentary says Chevron’s stock has shown strength recently, with improving technical and valuation signals suggesting the shares may be building toward a breakout. Chevron (CVX) Price Forecast: Bullish Signals Build Toward Breakout
• Positive Sentiment: Broker coverage remained constructive overall, with consensus still at “Moderate Buy,” which can help reinforce investor confidence. Chevron Corporation (NYSE:CVX) Receives Consensus Rating of “Moderate Buy” from Brokerages
• Neutral Sentiment: Chevron’s CFO was featured in an article about AI and finance, which is more of a strategic business profile than a direct stock catalyst. Chevron’s CFO on why finance chiefs are defining AI’s business value
• Neutral Sentiment: Coverage on Chevron’s Guyana and Argentina projects reinforces the company’s upstream growth story, but these pieces are more thematic than immediately market-moving. ExxonMobil and Chevron Reported a Combined $7.6 Billion Profit in Guyana Last Year. What Energy Investors Need to Know.
• Negative Sentiment: Chevron was downgraded by Zacks Research from “strong-buy” to “hold,” a small negative for sentiment, though it does not appear to reflect a major change in fundamentals. How Investment in TCO Is Powering Chevron’s Next Wave of Cash Growth

Institutional Trading of Chevron

Hedge funds have recently added to or reduced their stakes in the stock. Midwest Capital Advisors LLC purchased a new position in Chevron during the first quarter worth about $25,000. Main Street Group LTD purchased a new stake in shares of Chevron in the first quarter valued at approximately $28,000. Phillip James Consulting Co. acquired a new position in Chevron during the fourth quarter worth $26,000. Core Wealth Advisors LLC purchased a new position in shares of Chevron in the 4th quarter valued at about $26,000. Finally, Karpus Management Inc. acquired a new stake in shares of Chevron in the fourth quarter valued at about $27,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Down 2.1%

The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The business’s fifty day moving average is $189.38 and its 200 day moving average is $177.75. 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.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter in the prior year, the firm posted $2.18 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, analysts predict that Chevron Corporation will post 15.74 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were given a $1.78 dividend. 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%.

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.