Chevron (NYSE:CVX) Shares Up 2.6% on Analyst Upgrade

Chevron Corporation (NYSE:CVX) shares were up 2.6% on Friday after Morgan Stanley raised their price target on the stock from $218.00 to $226.00. Morgan Stanley currently has an overweight rating on the stock. Chevron traded as high as $225.31 and last traded at $225.0010. Approximately 8,704,603 shares changed hands during mid-day trading, a decline of 16% from the average daily volume of 10,423,698 shares. The stock had previously closed at $219.32.

Several other research analysts have also recently commented on CVX. UBS Group raised their target price on shares of Chevron from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 8th. Dbs Bank upgraded shares of Chevron to a “moderate buy” rating in a report on Thursday, August 6th. Mizuho set a $234.00 price target on shares of Chevron in a report on Monday. Wall Street Zen upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Zacks Research raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $213.42.

Insider Transactions at Chevron

In other Chevron news, insider R. Pate sold 2,470 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total value of $506,621.70. Following the transaction, the insider owned 10,794 shares in the company, valued at $2,213,957.34. The trade was a 18.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Andrew Walz sold 16,800 shares of the company’s stock in a transaction dated 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 transaction, the insider directly owned 14 shares in the company, valued at approximately $2,814.84. The trade was a 99.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,152,582 shares of company stock worth $225,853,661 in the last ninety days. Company insiders own 0.56% of the company’s stock.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Analyst upgrades and higher price targets: Wells Fargo initiated a “Buy” rating, while Morgan Stanley raised its target from $218 to $226 and assigned an “Overweight” rating. Other analysis lifted Chevron’s fair-value estimate from $222.67 to $227.71, citing improved commodity assumptions, project developments and balance-sheet decisions. Chevron Gets a Buy from Wells Fargo Morgan Stanley Raises Chevron Price Target
• Positive Sentiment: Strong relative performance: Zacks included CVX among its relative-strength stock picks, highlighting resilient price performance and upbeat earnings estimates. Chevron’s inclusion in dividend-focused portfolios and favorable comments from Jim Cramer may also support investor interest. Relative Strength Stock Picks
• Positive Sentiment: Earnings expectations remain strong: Wall Street expects a sharp year-over-year increase in Chevron’s third-quarter profit, while recent coverage continues to describe the company as a long-term investment candidate. Chevron’s Next Earnings Report
• Neutral Sentiment: Chevron’s prominence in investment letters and its status as a trending stock indicate heightened attention, but these signals do not necessarily imply additional fundamental upside. Chevron Investment Analysis
• Negative Sentiment: Energy-market risks remain: CEO Mike Wirth warned that commercial inventories, emergency reserves and previously sanctioned oil supplies used to absorb the Iran-related shock have been depleted. A more vulnerable global supply system could increase volatility and keep diesel prices elevated into 2027. Chevron CEO Warns Oil Buffers Are Drained

Institutional Trading of Chevron

A number of institutional investors have recently added to or reduced their stakes in the business. Midwest Capital Advisors LLC acquired a new stake in shares of Chevron in the first quarter worth about $25,000. Main Street Group LTD acquired a new position in shares of Chevron during the 1st quarter valued at about $28,000. Phillip James Consulting Co. acquired a new position in shares of Chevron during the 4th quarter valued at about $26,000. Kilter Group LLC bought a new position in shares of Chevron in the 2nd quarter valued at approximately $28,000. Finally, Basso Capital Management L.P. bought a new position in shares of Chevron in the fourth quarter valued at approximately $27,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

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 stock’s 50 day moving average price is $206.81 and its two-hundred day moving average price is $193.29. The firm has a market capitalization of $444.55 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 0.61 and a beta of 0.53.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $62.72 billion. During the same period in the prior year, the company earned $1.77 earnings per share. The business’s quarterly revenue was up 57.4% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Corporation will post 17.53 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were given a dividend of $1.78 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.2%. Chevron’s payout ratio is 68.26%.

About Chevron

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.