Chevron (NYSE:CVX) Hits New 52-Week High Following Analyst Upgrade

Chevron Corporation (NYSE:CVX)’s share price reached a new 52-week high during mid-day trading on Wednesday after Mizuho raised their price target on the stock from $206.00 to $217.00. Mizuho currently has an outperform rating on the stock. Chevron traded as high as $200.58 and last traded at $197.9690, with a volume of 14012717 shares trading hands. The stock had previously closed at $196.84.

CVX has been the subject of a number of other reports. Citigroup upped their price target on shares of Chevron from $179.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Sanford C. Bernstein upped their target price on shares of Chevron from $170.00 to $172.00 and gave the stock a “market perform” rating in a report on Monday, January 5th. Scotiabank reiterated a “sector perform” rating and issued a $168.00 price target on shares of Chevron in a research note on Friday, January 16th. BMO Capital Markets reissued an “outperform” rating and set a $190.00 price target on shares of Chevron in a report on Monday, February 2nd. Finally, Bank of America boosted their price objective on Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Thirteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $183.18.

Insider Buying and Selling

In related news, insider R. Hewitt Pate sold 58,000 shares of Chevron stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $188.65, for a total value of $10,941,700.00. Following the completion of the transaction, the insider owned 8,558 shares in the company, valued at $1,614,466.70. The trade was a 87.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Eimear P. Bonner sold 32,100 shares of the firm’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $175.01, for a total transaction of $5,617,821.00. Following the completion of the sale, the chief financial officer owned 4,366 shares in the company, valued at $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 quarter, insiders have sold 1,099,397 shares of company stock worth $196,196,468. 0.20% of the stock is owned by corporate insiders.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is reportedly in advanced negotiations to acquire a 30% stake in Ultrapar’s Ipiranga unit, expanding its retail and fuel-market footprint in Brazil — a strategic growth move in a large, high-margin market. Chevron in Advanced Negotiations to Buy 30% Stake in Ipiranga
• Positive Sentiment: Mizuho raised its price target on CVX to $217 and assigned an “outperform” rating, signaling institutional confidence and providing upside thesis support for the stock. Mizuho price target raise
• Positive Sentiment: WTI and Brent oil prices rose amid doubts about a U.S.-led coalition to secure Strait of Hormuz shipping, which typically benefits large integrated oil names like Chevron through higher commodity realizations. Oil jumps over 2%
• Positive Sentiment: Chevron awarded a FEED contract for the Aphrodite gas field in Cyprus, advancing its Eastern Mediterranean gas development pipeline and long-term production optionality. Chevron Advances Cyprus’ Aphrodite Gas Field Development
• Neutral Sentiment: Coverage pieces note Chevron’s size as a large dividend payer and buyback issuer, reinforcing its appeal to income-focused investors but not a near-term price catalyst on its own. Does Chevron pay dividends?
• Neutral Sentiment: Wider market commentary highlights volatility from the Middle East conflict; this creates both upside from higher oil and downside risk from disrupted trade—mixed for CVX. Market Chatter
• Negative Sentiment: Chevron agreed to pay just over $1M and retire ~2M renewable fuel credits to settle alleged violations under the Renewable Fuel Standard — a modest financial hit but a regulatory / compliance headline. Chevron Hit With $1 Million Penalty
• Negative Sentiment: WSJ reporting on CIA dealings with an ex-Chevron executive raises reputational questions around industry-government ties; potential PR and oversight risks could concern some investors. Takeaways From WSJ Reporting
• Negative Sentiment: Barclays’ price-target move to $180 with an “equal weight” rating implies limited near-term upside from that shop’s view and contrasts with the more bullish Mizuho call — adding conflicting analyst signals. Barclays price target change

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Perigon Wealth Management LLC increased its position in Chevron by 19.3% in the 3rd quarter. Perigon Wealth Management LLC now owns 73,448 shares of the oil and gas company’s stock worth $11,406,000 after purchasing an additional 11,875 shares during the last quarter. Brooklyn FI LLC purchased a new stake in shares of Chevron during the 3rd quarter worth about $431,000. New York State Teachers Retirement System lifted its holdings in shares of Chevron by 15.3% during the 3rd quarter. New York State Teachers Retirement System now owns 1,620,231 shares of the oil and gas company’s stock valued at $251,606,000 after buying an additional 215,345 shares during the last quarter. Finemark National Bank & Trust lifted its holdings in shares of Chevron by 40.3% during the 3rd quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company’s stock valued at $8,779,000 after buying an additional 16,243 shares during the last quarter. Finally, Pictet North America Advisors SA bought a new stake in shares of Chevron in the 3rd quarter valued at approximately $5,662,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Up 0.6%

The company has a 50 day moving average of $178.82 and a 200 day moving average of $162.60. The firm has a market cap of $395.03 billion, a P/E ratio of 29.73, a PEG ratio of 1.82 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.15.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.08. The firm had revenue of $45.79 billion for the quarter, compared to analyst estimates of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.06 earnings per share. Analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were issued a dividend of $1.78 per share. The ex-dividend date was Tuesday, February 17th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from Chevron’s previous quarterly dividend of $1.71. Chevron’s payout ratio is 106.91%.

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.