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

Chevron Corporation (NYSE:CVX) was up 1.7% 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 traded hands during trading, an increase of 19% from the average daily volume of 13,118,802 shares. The stock had previously closed at $201.73.

A number of other research analysts also recently commented on CVX. UBS Group reaffirmed a “buy” rating and set a $212.00 price objective on shares of Chevron in a research note on Monday, February 2nd. Wells Fargo & Company boosted their target price on shares of Chevron from $196.00 to $204.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Melius Research upgraded 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. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Barclays increased their target price on shares of Chevron from $172.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Monday, March 16th. Fourteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $184.77.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 272,624 shares of Chevron stock in a transaction on Monday, March 2nd. The shares were 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 owned 31,266 shares of the company’s stock, valued at $5,920,217.10. The trade was a 89.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider R. Hewitt Pate sold 47,200 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $192.12, for a total transaction of $9,068,064.00. Following the sale, the insider directly owned 8,558 shares of the company’s stock, valued at approximately $1,644,162.96. This represents a 84.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,099,397 shares of company stock valued at $196,196,468 over the last three months. Company insiders own 0.20% of the company’s stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron CEO Mike Wirth warned markets are underpricing the supply shock from the Strait of Hormuz closure, signaling potential for sustained higher oil prices that support upstream earnings and cash flow. Chevron CEO says Iran war impact isn’t fully priced into oil market
• Positive Sentiment: New informal transit fees and disruptions in the Strait of Hormuz increase shipping costs and tighten global crude/LNG flows, a supply-side shock that typically benefits large integrated producers like Chevron. Iran Imposes Up to $2M Transit Fees on Ships in Strait of Hormuz
• Positive Sentiment: Chevron signaled operational buying for its California refinery (boosting near-term crude demand); that development lifted smaller suppliers and highlights refinery throughput that can bolster margins. Sable Offshore rises as Chevron says planning to buy oil for California refinery
• Positive Sentiment: Momentum: markets note CVX’s multi-session gains and strong YTD performance as investors rotate into energy amid tight supply expectations. Chevron extends winning streak to seventh session
• Positive Sentiment: Management push on Venezuela reforms and Chevron’s early production increases there point to potential medium-term supply upside if legal/contract certainty improves. Chevron Spots Market Gaps and Calls for Venezuela Reforms
• Neutral Sentiment: HSBC upgrade and analyst target increases give technical/psychological support to the rally but may already be priced in given CVX’s strong recent run. Chevron (NYSE:CVX) Upgraded at HSBC
• Negative Sentiment: Geopolitical headlines remain a double-edged sword — pauses in strikes or peace negotiations have previously triggered quick oil pullbacks, creating volatility risk that can reverse recent gains. Trump Pauses Iran Energy Strikes for 5 Days

Institutional Investors Weigh In On Chevron

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of 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 acquiring an additional 27,961,463 shares during the period. Norges Bank acquired a new position in shares of Chevron during the fourth quarter valued at approximately $3,727,586,000. State Street Corp increased its stake 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 acquiring an additional 12,789,399 shares during the period. Berkshire Hathaway Inc raised its holdings in Chevron by 6.6% during 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 in the last quarter. Finally, Primecap Management Co. CA acquired a new stake in Chevron in the third quarter worth approximately $988,083,000. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

The business has a 50-day simple moving average of $183.03 and a two-hundred day simple moving average of $164.16. 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 stock has a market capitalization of $412.59 billion, a price-to-earnings ratio of 31.05, a P/E/G ratio of 1.90 and a beta of 0.67.

Chevron (NYSE:CVX) last posted 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 company had revenue of $45.79 billion during 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 business’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.06 EPS. As a group, research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently announced 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 3.4%. 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 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.