Chevron (NYSE:CVX) Sets New 12-Month High Following Analyst Upgrade

Chevron Corporation (NYSE:CVX)’s share price reached a new 52-week high during mid-day trading on Monday after Citigroup raised their price target on the stock from $179.00 to $210.00. Citigroup currently has a buy rating on the stock. Chevron traded as high as $191.44 and last traded at $189.7390, with a volume of 4582031 shares trading hands. The stock had previously closed at $186.76.

CVX has been the topic of several other reports. Jefferies Financial Group increased their price objective on shares of Chevron from $174.00 to $189.00 and gave the company a “buy” rating in a report on Wednesday, January 14th. Scotiabank reissued a “sector perform” rating and issued a $168.00 price target on shares of Chevron in a research note on Friday, January 16th. TD Cowen lifted their price objective on Chevron from $160.00 to $168.00 and gave the stock a “hold” rating in a research note on Monday, February 2nd. Barclays increased their target price on Chevron from $158.00 to $166.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 21st. Finally, BMO Capital Markets restated an “outperform” rating and set a $190.00 target price on shares of Chevron in a research report on Monday, February 2nd. Thirteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, Chevron has a consensus rating of “Hold” and a consensus price target of $178.95.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 320,700 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $162.99, for a total value of $52,270,893.00. Following the sale, the chief executive officer directly owned 14,450 shares of the company’s stock, valued at approximately $2,355,205.50. The trade was a 95.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Eimear P. Bonner sold 32,100 shares of the company’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $175.01, for a total transaction of $5,617,821.00. Following the completion of the transaction, the chief financial officer directly owned 4,366 shares of the company’s stock, valued at approximately $764,093.66. The trade was a 88.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 534,898 shares of company stock valued at $89,543,711. 0.21% of the stock is owned by corporate insiders.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Middle East tensions have sparked an oil rally that lifted energy stocks, and Chevron is benefiting as investors favor large integrated producers. Chevron’s stock surges toward a record as U.S.-Israeli attacks on Iran spark an oil rally
• Positive Sentiment: Crude prices jumped sharply after strikes disrupted traffic near the Strait of Hormuz, directly boosting expectations for higher near-term oil prices and margins for majors like CVX. Crude Oil Prices Skyrocket 13% as Iran Conflict Closes Hormuz Strait — XOM and CVX Gain Ground
• Positive Sentiment: Analyst upgrades: Citigroup raised its CVX target to $210 (buy) and Bank of America bumped its target to $206 (buy), providing fresh upside and institutional validation for the rally. Benzinga
• Positive Sentiment: An exclusive note highlights Chevron’s “clearest line of sight” to benefit from a Venezuela recovery — access to discounted heavy crude and existing infrastructure could be a multi-quarter volume and cost advantage. EXCLUSIVE: Chevron Has The ‘Clearest Line Of Sight’ In Venezuela Recovery
• Neutral Sentiment: Brokerage consensus remains mixed; an aggregated view labels CVX around a “Hold,” which tempers upside but doesn’t negate the near-term oil-price-driven move. Chevron Corporation (NYSE:CVX) Receives Average Rating of “Hold” from Brokerages
• Neutral Sentiment: Macro notes: CNBC warns that while the Iran conflict is pushing oil higher, the inflation impact is uncertain and could be temporary — a reminder that gains may reverse if geopolitical risks ease. As Trump declares inflation tamed, Iran conflict threatens new price pressures
• Neutral Sentiment: Berkshire’s new CEO omitted Chevron from a highlighted “core” list in his shareholder letter — notable for perceptions of long-term endorsement but not an immediate operational change. Berkshire Hathaway’s New CEO Omits Bank of America And Chevron In Letter To Shareholders After Warren Buffett’s Exit
• Negative Sentiment: Insider selling (reported ~ $89M) has been flagged by market commentators — can be perceived as a headwind for sentiment despite management/strategic positives. Chevron Stock Analysis: Why Jim Cramer Advises Holding CVX Despite Insider Sales

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Chevron by 17.9% in the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock valued at $28,540,753,000 after purchasing an additional 27,961,463 shares during the last quarter. State Street Corp grew its position in Chevron by 9.1% in the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after purchasing an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc increased its position in shares of Chevron by 6.6% in the fourth 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 acquiring an additional 8,091,570 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Chevron by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock worth $6,620,187,000 after purchasing an additional 134,890 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Chevron by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company’s stock worth $5,492,377,000 after buying an additional 961,341 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.15. The stock’s fifty day moving average price is $170.32 and its 200-day moving average price is $159.88. The company has a market capitalization of $378.15 billion, a P/E ratio of 28.45, a PEG ratio of 12.36 and a beta of 0.70.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.44 by $0.08. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The company had revenue of $45.79 billion during the quarter, compared to the consensus estimate of $48.18 billion. During the same period in the previous year, the company posted $2.06 EPS. The firm’s revenue for the quarter was down 10.2% compared to the same quarter last year. As a group, research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.8%. This is a boost from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date is Tuesday, February 17th. Chevron’s dividend payout ratio (DPR) is 106.91%.

Chevron Company Profile

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.