Chevron (NYSE:CVX) Reaches New 12-Month High – What’s Next?

Shares of Chevron Corporation (NYSE:CVX) reached 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 trading hands. The stock had previously closed at $201.73.

Chevron News Roundup

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CVX shares. Morgan Stanley decreased their price objective on shares of Chevron from $180.00 to $174.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Melius Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a report on Tuesday, February 17th. Barclays raised their target price on Chevron from $172.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Monday, March 16th. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a report on Friday. Finally, Scotiabank reissued a “sector perform” rating and issued a $168.00 price objective on shares of Chevron in a research note on Friday, January 16th. Fourteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $184.77.

Chevron Trading Up 1.7%

The business’s 50-day simple moving average is $182.17 and its 200-day simple moving average is $163.78. The company has a market cap 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 current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, beating 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 business 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 company posted $2.06 EPS. Chevron’s revenue was down 10.2% on a year-over-year basis. As a group, analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced 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 yield of 3.5%. This is an increase from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date was Tuesday, February 17th. Chevron’s dividend payout ratio is presently 106.91%.

Insider Transactions at Chevron

In other news, CFO Eimear P. Bonner sold 32,100 shares of Chevron stock in a transaction dated 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 sale, the chief financial officer directly owned 4,366 shares in the company, valued at $764,093.66. The trade was a 88.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R. Hewitt Pate sold 58,000 shares of the business’s 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 sale, the insider directly owned 8,558 shares of the company’s stock, valued at approximately $1,614,466.70. The trade was a 87.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,099,397 shares of company stock worth $196,196,468. 0.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chevron

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVX. United Bank raised its holdings in shares of Chevron by 7.7% during the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock valued at $1,586,000 after purchasing an additional 796 shares in the last quarter. Schnieders Capital Management LLC. lifted its stake in shares of Chevron by 9.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock valued at $7,280,000 after purchasing an additional 4,214 shares during the last quarter. Hillsdale Investment Management Inc. boosted its holdings in Chevron by 209.6% in the second quarter. Hillsdale Investment Management Inc. now owns 6,100 shares of the oil and gas company’s stock worth $873,000 after purchasing an additional 4,130 shares in the last quarter. Global Retirement Partners LLC acquired a new position in Chevron during the second quarter worth $8,681,000. Finally, TCP Asset Management LLC increased its position in Chevron by 5.7% during the second quarter. TCP Asset Management LLC now owns 3,687 shares of the oil and gas company’s stock worth $528,000 after buying an additional 199 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

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.