Chevron (NYSE:CVX) Hits New 52-Week High – Time to Buy?

Shares of Chevron Corporation (NYSE:CVX) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $205.36 and last traded at $205.1230, with a volume of 15688667 shares traded. The stock had previously closed at $201.73.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: CEO Mike Wirth warned at CERAWeek that markets are underestimating the supply shock from the Strait of Hormuz closure, saying futures trade on “scant information” and that physical supply recovery will take time — comments that support a higher-oil-price thesis and boost Chevron’s near-term revenue outlook. Energy Markets Should Be More Worried, Chevron’s CEO Says
• Positive Sentiment: Multiple reports (CNBC, Reuters, Fortune) echoed Wirth’s message that the market hasn’t fully priced Iran-related disruptions — reinforcing trader flows into oil names and benefitting integrated producers like Chevron. Chevron CEO says Iran war impact isn’t fully priced into oil market
• Positive Sentiment: Analysts and sector pieces are highlighting Chevron as a beneficiary of U.S. LNG export demand and global supply tightness, which supports longer-term cash generation beyond upstream crude exposure. 3 Best US LNG Stocks to Focus on Amid Global Supply Crunch
• Neutral Sentiment: Wirth said Chevron has raised Venezuelan output recently but that large-scale investment needs clearer legal/regulatory changes — a potential long-term upside if reforms stick, but uncertain and capital-intensive. Chevron CEO: More Groundwork Needed to Boost Venezuelan Oil Production
• Positive Sentiment: HSBC reportedly upgraded Chevron, which can lift investor sentiment and help support the rally amid energy-sector rotation. Chevron Upgraded at HSBC
• Negative Sentiment: Geopolitical easing headlines — notably reports the U.S. paused planned strikes and engaged in talks with Iran — triggered a sharp drop in oil prices earlier, which can pressure short-term sentiment for oil producers including Chevron. Trump Pauses Iran Energy Strikes for 5 Days

Analyst Ratings Changes

A number of brokerages have recently commented on CVX. Freedom Capital lowered Chevron from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. Zacks Research raised shares of Chevron from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 23rd. TD Cowen raised their target price on shares of Chevron from $160.00 to $168.00 and gave the company a “hold” rating in a research note on Monday, February 2nd. Mizuho upped their price target on shares of Chevron from $206.00 to $217.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Finally, Melius Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a report on Tuesday, February 17th. Fourteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $184.77.

Chevron Price Performance

The company has a 50 day moving average of $182.17 and a two-hundred day moving average of $163.78. The firm has a market cap of $409.30 billion, a P/E ratio of 30.80, a PEG ratio of 1.87 and a beta of 0.67. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last issued its quarterly 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 net margin of 6.51% and a return on equity of 7.89%. The firm had revenue of $45.79 billion for the quarter, compared to analysts’ expectations of $48.18 billion. During the same period in the previous year, the business earned $2.06 earnings per share. Chevron’s revenue for the quarter was down 10.2% compared to the same quarter last year. Sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Tuesday, February 17th. This is an increase from Chevron’s previous quarterly dividend of $1.71. Chevron’s payout ratio is presently 106.91%.

Insider Buying and Selling at Chevron

In other Chevron news, insider Alana K. Knowles sold 2,408 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $183.28, for a total value of $441,338.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider R. Hewitt Pate sold 47,200 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $192.12, for a total value of $9,068,064.00. Following the sale, the insider owned 8,558 shares of the company’s stock, valued at $1,644,162.96. This trade represents a 84.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,099,397 shares of company stock valued at $196,196,468. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Chevron

A number of hedge funds have recently modified their holdings of CVX. Vanguard Group Inc. increased its stake in Chevron by 17.9% in the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock worth $28,540,753,000 after purchasing an additional 27,961,463 shares in the last quarter. Norges Bank acquired a new stake in Chevron during the 4th quarter worth about $3,727,586,000. State Street Corp lifted its stake in Chevron by 9.1% during 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 buying an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc boosted its holdings 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 worth $19,837,131,000 after buying an additional 8,091,570 shares during the period. Finally, Primecap Management Co. CA acquired a new position in shares of Chevron in the third quarter worth about $988,083,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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.