Chevron (NYSE:CVX) Sets New 1-Year High After Analyst Upgrade

Shares of Chevron Corporation (NYSE:CVX) reached a new 52-week high on Monday after Scotiabank upgraded the stock to a hold rating. The company traded as high as $213.36 and last traded at $214.4980, with a volume of 194738 shares trading hands. The stock had previously closed at $211.15.

A number of other research analysts have also recently issued reports on CVX. Bank of America boosted their target price on Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. JPMorgan Chase & Co. raised Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 price target on the stock in a research report on Tuesday, January 20th. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and set a $215.00 price objective on the stock in a report on Friday, March 20th. Wells Fargo & Company increased their target price on Chevron from $196.00 to $204.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Finally, Citigroup raised their target price on shares of Chevron from $179.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Fourteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Chevron has an average rating of “Hold” and an average price target of $186.50.

Insider Transactions at Chevron

In other news, insider R. Hewitt Pate sold 47,200 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 8,558 shares of the company’s stock, valued at $1,644,162.96. This trade represents a 84.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael K. Wirth sold 272,624 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $189.35, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. 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 currently owned by company insiders.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil and gas prices improves near‑term revenue/cash flow potential for integrated producers like Chevron; markets closed March with a historic monthly oil-price surge. Oil Prices Post Biggest Monthly Surge in History
• Positive Sentiment: Chevron announced a partnership with Libya’s National Oil Corporation to assess offshore exploration, which could unlock reserves and future production upside. Chevron Partners With Libya’s NOC to Unlock Offshore Potential
• Positive Sentiment: Microsoft is reportedly in talks with Chevron and Engine No. 1 about a roughly $7 billion Texas power plant project — this signals Chevron’s involvement in large-scale power/energy-transition infrastructure and potential new revenue streams. Microsoft in talks with Chevron, Engine No. 1 about $7B Texas power plant – Bloomberg
• Positive Sentiment: Wall Street interest and analyst support remain; J.P. Morgan and other coverage highlight Chevron’s strong cash‑flow profile (Tengizchevroil ramp-up), and Berkshire Hathaway remains a large shareholder — factors that support investor demand. Chevron: Leveraging Tengizchevroil’s Ramp-Up and Long-Lived Franchise Strength…
• Neutral Sentiment: Chevron announced senior leadership changes framed as operational and safety-focused; these typically matter more for long-term execution than for immediate stock moves. Chevron Announces Senior Leadership Changes
• Neutral Sentiment: There are bullish commentary pieces suggesting momentum and buy-the-dip interest, but these are sentiment/analysis items rather than company-specific catalysts. Oil Prices Are Near Multiyear Highs. Here’s the Best Energy Stock to Buy With $1,000.
• Negative Sentiment: Wheatstone LNG downstream assets in Western Australia suffered extensive cyclone damage; Chevron says the facility will be offline for a number of weeks — lost volumes, repair costs and operational uncertainty are near-term negatives for earnings and cash flow. Chevron’s downstream assets at Wheatstone gas facility suffer extensive damage due to cyclone
• Negative Sentiment: Chevron warned it may be forced to close California gas plants within a decade under current state policy — a regulatory risk that could reduce refining and power assets in a key domestic market. ‘We Won’t Be Able To Make It’ — After 140 Years In California, Chevron May Have To Close Its Gas Plants

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Core Wealth Advisors LLC acquired a new position in shares of Chevron during the 4th quarter worth approximately $26,000. Phillip James Consulting Co. acquired a new stake in Chevron during the fourth quarter worth approximately $26,000. Basso Capital Management L.P. bought a new stake in shares of Chevron during the fourth quarter worth approximately $27,000. Karpus Management Inc. bought a new stake in shares of Chevron during the fourth quarter worth approximately $27,000. Finally, Quattro Advisors LLC acquired a new position in shares of Chevron in the fourth quarter valued at approximately $27,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

The company has a market cap of $412.67 billion, a P/E ratio of 31.05, a price-to-earnings-growth ratio of 1.67 and a beta of 0.67. 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 50 day moving average price of $187.24 and a two-hundred day moving average price of $165.98.

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

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were given a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This is a boost from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.4%. Chevron’s dividend payout ratio (DPR) is presently 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.