Chevron (NYSE:CVX) Stock Price Up 1.7% on Analyst Upgrade

Chevron Corporation (NYSE:CVX) shares rose 1.7% during mid-day trading on Monday after HSBC upgraded the stock from a hold rating to a buy rating. HSBC now has a $215.00 price target on the stock. Chevron traded as high as $205.36 and last traded at $205.1230. Approximately 15,614,804 shares were traded during mid-day trading, an increase of 19% from the average daily volume of 13,118,802 shares. The stock had previously closed at $201.73.

Several other research analysts also recently weighed in on the stock. Bank of America increased their price target on shares of Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Argus set a $203.00 price objective on Chevron in a research note on Tuesday, February 3rd. Mizuho raised their target price on Chevron from $206.00 to $217.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. BMO Capital Markets reiterated an “outperform” rating and set a $190.00 target price on shares of Chevron in a research report on Monday, February 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a report on Wednesday, January 21st. Fourteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $184.77.

Insider Buying and Selling at Chevron

In other news, 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 value of $26,233,632.00. Following the transaction, the insider directly owned 11,337 shares in the company, valued at $2,130,449.04. The trade was a 92.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael K. Wirth sold 272,624 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $189.35, for a total value of $51,621,354.40. Following the completion of the transaction, the chief executive officer directly owned 31,266 shares of the company’s stock, valued at approximately $5,920,217.10. This trade represents a 89.71% 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. 0.20% of the stock is currently owned by corporate insiders.

More Chevron News

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

Institutional Investors Weigh In On Chevron

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted 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. State Street Corp grew its position in shares of 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 purchasing an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc increased 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 purchasing an additional 8,091,570 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Chevron by 0.3% in the fourth 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. lifted its position in shares of Chevron by 2.7% in 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 in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.7%

The business has a 50-day moving average of $182.17 and a 200 day moving average of $163.78. The company has a market capitalization of $409.30 billion, a PE ratio of 30.80, a P/E/G ratio of 1.87 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86.

Chevron (NYSE:CVX) last released its quarterly earnings results 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 business had revenue of $45.79 billion during the quarter, compared to analysts’ expectations of $48.18 billion. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The firm’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.06 EPS. Equities research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were paid 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 of this dividend was Tuesday, February 17th. This is an increase from Chevron’s previous quarterly dividend of $1.71. Chevron’s dividend 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.