Chevron (NYSE:CVX) Stock Price Up 2.9% on Analyst Upgrade

Chevron Corporation (NYSE:CVX) rose 2.9% during mid-day trading on Thursday after Piper Sandler raised their price target on the stock from $179.00 to $242.00. Piper Sandler currently has an overweight rating on the stock. Chevron traded as high as $198.88 and last traded at $197.3120. Approximately 26,970,656 shares were traded during mid-day trading, an increase of 116% from the average daily volume of 12,500,353 shares. The stock had previously closed at $191.79.

CVX has been the topic of several other research reports. UBS Group restated a “buy” rating and set a $212.00 price objective on shares of Chevron in a report on Monday, February 2nd. JPMorgan Chase & Co. raised shares of Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 target price for the company in a research report on Tuesday, January 20th. Argus set a $203.00 target price on shares of Chevron in a report on Tuesday, February 3rd. Scotiabank reaffirmed a “sector perform” rating and issued a $168.00 price target on shares of Chevron in a research report on Friday, January 16th. Finally, Citigroup lifted their price target on Chevron from $179.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Thirteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Chevron currently has a consensus rating of “Hold” and a consensus target price of $182.05.

Insider Activity

In related news, insider R. Hewitt Pate sold 58,000 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $188.65, for a total transaction of $10,941,700.00. Following the transaction, the insider directly owned 8,558 shares of the company’s stock, valued at $1,614,466.70. This trade represents a 87.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the transaction, the insider owned 11,337 shares in the company, valued at approximately $2,130,449.04. This trade represents a 92.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,099,397 shares of company stock valued at $196,196,468 over the last quarter. 0.21% of the stock is owned by insiders.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Piper Sandler raised its price target and reiterated an “overweight” stance on CVX, giving institutional investors a fresh bullish valuation reference. Benzinga
• Positive Sentiment: Macro support: oil prices and geopolitical risk in the Middle East have pushed Chevron to new highs this week, lifting sentiment for integrated producers that benefit from higher crude. MarketBeat
• Positive Sentiment: Gulf of Mexico expansion: Chevron increased its footprint in the recent lease sale/auction, signaling continued investment in U.S. deepwater growth. Yahoo Finance
• Positive Sentiment: Project development: Chevron Cyprus has advanced a Cyprus offshore gas project (Worley awarded FEED), indicating future production & gas sales potential in the Eastern Med. TipRanks
• Positive Sentiment: Heavy bullish options flow: an unusual spike in call buying shows short‑term speculative/hedging interest that can amplify upward moves.
• Neutral Sentiment: Gorgon/LNG ownership shifts: MidOcean’s move to increase a stake in Gorgon LNG reflects ongoing portfolio shifts in Australian LNG, where Chevron is a long‑standing partner — monitor implications for JV economics. Offshore‑Technology
• Neutral Sentiment: Venezuela opportunity remains in play: reports that Chevron and Shell are nearing deals to revive Venezuelan production are positive long‑term but remain uncertain and subject to regulatory/geopolitical timing. MSN/Reuters
• Negative Sentiment: Insider selling: an SEC filing shows R. Hewitt Pate sold 47,200 shares recently — while insider sales can be routine, some investors interpret them as a signal to reduce exposure near rally highs. SEC Form 4
• Negative Sentiment: Regulatory hit: Chevron agreed to a DOJ settlement (about $1M penalty and retirement of ~$3.6M in invalid renewable credits) — small financially but a reputational/legal reminder. Benzinga
• Negative Sentiment: Asset sale in Angola: Energean’s acquisition of Chevron stakes in offshore Angolan blocks reduces CVX near‑term production exposure in that region; impact depends on sale price and redeployment of proceeds. Offshore‑Technology

Hedge Funds Weigh In On Chevron

Hedge funds have recently modified their holdings of the company. Castellan Group raised its stake in shares of Chevron by 10.7% during the 2nd quarter. Castellan Group now owns 20,405 shares of the oil and gas company’s stock worth $2,922,000 after purchasing an additional 1,965 shares during the period. United Bank grew its position in Chevron by 7.7% during the second quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock valued at $1,586,000 after buying an additional 796 shares during the period. Schnieders Capital Management LLC. increased its holdings in Chevron by 9.0% during the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock worth $7,280,000 after buying an additional 4,214 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Chevron during the second quarter worth about $5,056,000. Finally, KBC Group NV raised its position in Chevron by 5.2% in the second quarter. KBC Group NV now owns 179,044 shares of the oil and gas company’s stock worth $25,637,000 after acquiring an additional 8,915 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 2.9%

The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21. The firm has a market cap of $393.71 billion, a P/E ratio of 29.63, a price-to-earnings-growth ratio of 1.93 and a beta of 0.67. The firm’s 50-day simple moving average is $176.51 and its 200 day simple moving average is $161.75.

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

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were issued a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.6%. This is a positive change from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend was Tuesday, February 17th. Chevron’s dividend payout ratio is currently 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.