Chevron (NYSE:CVX) Shares Down 3.2% – What’s Next?

by · The Markets Daily

Chevron Corporation (NYSE:CVX – Get Free Report) fell 3.2% during trading on Monday. The stock traded as low as $227.42 and last traded at $227.9950. 9,010,977 shares changed hands during trading, a decline of 12% from the average daily volume of 10,286,886 shares. The stock had previously closed at $235.52.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

  • Positive Sentiment: Analysts raised price targets. UBS lifted its target from $235 to $265 and upgraded Chevron to “buy,” while Barclays raised its target from $208 to $244, although it maintained an “equal weight” rating. Chevron Analysts Raise Their Forecasts After Better-Than-Expected Q3 Earnings
  • Positive Sentiment: Third-quarter execution was strong. Chevron beat earnings expectations, benefiting from record U.S. refinery throughput, stronger refining margins, solid upstream production and higher crude prices. Management also highlighted disciplined capital allocation, potential Venezuela production growth and AI-supported reliability improvements. 5 revealing analyst questions from Chevron’s Q3 earnings call
  • Positive Sentiment: Cash flow and shareholder returns remain supportive. Analysts expect the earnings beat to improve Chevron’s free-cash-flow outlook. The company also declared a quarterly dividend of $1.78 per share, while ETFs recently purchased approximately $64 million of CVX stock. CVX Q3 Earnings Call Highlights Venezuela Growth and Refining Gains
  • Neutral Sentiment: Management is increasing investment. Chevron plans to raise exploration spending by 50% and invest heavily in new frontier projects, including Venezuela-related opportunities. The spending could support long-term production but may limit near-term free cash flow and carries geopolitical risk. Chevron Raises Exploration Spending By 50%
  • Negative Sentiment: Profit-taking and valuation concerns are weighing on the shares. Chevron has gained roughly 59% this year and moved above many published price targets, prompting questions about whether the refining windfall is already reflected in the stock. Refining margins can be cyclical, and political criticism of major oil companies adds another headline risk. Chevron Is Up 59% This Year and Trades Above Its Price Target

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CVX shares. Barclays raised their price objective on shares of Chevron from $208.00 to $244.00 and gave the stock an “equal weight” rating in a report on Monday. Argus upped their target price on shares of Chevron from $206.00 to $211.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Bank of America upped their target price on shares of Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Morgan Stanley increased their price target on shares of Chevron from $226.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, William Blair assumed coverage on shares of Chevron in a research note on Wednesday. They set an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus price target of $218.46.

View Our Latest Research Report on Chevron

Chevron Stock Down 3.2%

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The company has a market capitalization of $450.47 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 0.56 and a beta of 0.47. The company’s fifty day moving average is $213.16 and its 200-day moving average is $193.07.

Chevron (NYSE:CVX – Get Free Report) last posted its quarterly earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.87 by $0.41. The business had revenue of $65.24 billion during the quarter, compared to analyst estimates of $61.82 billion. Chevron had a net margin of 11.56% and a return on equity of 14.64%. The company’s revenue was up 36.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.85 earnings per share. As a group, analysts predict that Chevron Corporation will post 18.15 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be paid a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Wednesday, November 18th. Chevron’s dividend payout ratio is presently 68.26%.

Insider Buying and Selling at Chevron

In other news, insider Andrew Walz sold 16,800 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the transaction, the insider directly owned 14 shares in the company, valued at $2,814.84. The trade was a 99.92% 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 Wirth sold 317,100 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $200.46, for a total value of $63,565,866.00. Following the completion of the transaction, the chief executive officer owned 26,308 shares in the company, valued at $5,273,701.68. The trade was a 92.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 385,017 shares of company stock valued at $78,253,704 over the last ninety days. 0.56% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CVX. Main Street Group LTD bought a new position in shares of Chevron during the first quarter worth $28,000. Kilter Group LLC bought a new stake in Chevron in the 2nd quarter valued at $28,000. Principia Wealth Advisory LLC lifted its stake in Chevron by 49.6% in the 2nd quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 60 shares in the last quarter. Financial Connections Group Inc. lifted its stake in Chevron by 129.3% in the 1st quarter. Financial Connections Group Inc. now owns 211 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 119 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID lifted its stake in Chevron by 81.8% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 220 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 99 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Company Profile

(Get Free Report)

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.

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