Chevron (NYSE:CVX) Upgraded at Zacks Research

Zacks Research upgraded shares of Chevron (NYSE:CVX) from a hold rating to a strong-buy rating in a research note released on Monday,Zacks reports.

Several other equities analysts have also issued reports on CVX. Barclays decreased their price target on shares of Chevron from $216.00 to $208.00 and set an “equal weight” rating for the company in a report on Monday, August 17th. Raymond James Financial reduced their target price on Chevron from $230.00 to $225.00 and set an “outperform” rating on the stock in a report on Tuesday, July 21st. Sanford C. Bernstein boosted their target price on Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Dbs Bank raised Chevron to a “moderate buy” rating in a research note on Thursday, August 6th. Finally, HSBC set a $90.00 price target on Chevron in a report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $210.87.

Chevron Stock Down 1.1%

Chevron stock opened at $205.26 on Monday. The company’s 50 day simple moving average is $203.83 and its 200 day simple moving average is $192.87. Chevron has a fifty-two week low of $146.49 and a fifty-two week high of $217.78. The firm has a market capitalization of $405.55 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 0.58 and a beta of 0.53. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98.

Chevron (NYSE:CVX) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.55 by $0.51. The firm had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business’s quarterly revenue was up 57.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.77 earnings per share. As a group, sell-side analysts anticipate that Chevron will post 17.47 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were paid a $1.78 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.5%. Chevron’s dividend payout ratio is presently 68.26%.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 317,100 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the completion of the transaction, the chief executive officer directly owned 26,308 shares in the company, valued at approximately $5,273,701.68. This trade represents a 92.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew Walz sold 16,800 shares of Chevron stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $201.06, for a total value of $3,377,808.00. Following the completion of the sale, the insider directly owned 14 shares in the company, valued at approximately $2,814.84. This represents a 99.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,152,582 shares of company stock worth $225,853,661 in the last 90 days. Company insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Chevron

A number of large investors have recently bought and sold shares of the company. Blue Capital Inc. bought a new position in Chevron in the second quarter valued at $786,000. OneAscent Wealth Management LLC bought a new stake in Chevron during the second quarter worth about $973,000. Global Retirement Partners LLC purchased a new position in shares of Chevron in the 2nd quarter worth about $14,276,000. Ferguson Wellman Capital Management Inc. boosted its holdings in shares of Chevron by 0.6% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 911,718 shares of the oil and gas company’s stock worth $186,182,000 after purchasing an additional 5,787 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Chevron by 6.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company’s stock valued at $258,853,000 after purchasing an additional 79,439 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to transfer its Hess Midstream ownership interests and DJ Basin midstream assets in exchange for revised Bakken commercial terms. The restructuring is expected to cut Chevron’s Bakken midstream costs by approximately 50%, remove about $3.7 billion of associated debt from its financial profile and improve return on capital. Chevron’s Portfolio Reshaping Strategy to Unlock Stronger Returns
• Positive Sentiment: Management’s warning that global oil and fuel inventories are becoming dangerously thin could support crude and refined-product prices, which would benefit Chevron’s upstream and downstream operations. CEO Mike Wirth also opposed a potential U.S. diesel-export ban, arguing that it could restrict global supply and worsen the energy crisis. Chevron CEO warns against diesel export ban
• Positive Sentiment: Zacks upgraded CVX to “Strong Buy,” adding a supportive analyst signal as investors assess Chevron’s portfolio simplification and exploration investments. Chevron upgraded to Strong Buy
• Neutral Sentiment: Chevron is evacuating nonessential personnel from some Gulf of Mexico platforms because of a potential tropical storm. The move is precautionary, but prolonged disruption could affect offshore production. Chevron evacuates Gulf of Mexico workers
• Negative Sentiment: Chevron is expected to absorb a reported $3 billion to $4 billion closing loss from the Hess Midstream transaction. That immediate hit appears to be outweighing the longer-term savings in today’s trading, particularly as investors focus on near-term earnings and valuation impacts. Chevron Hess Midstream restructuring impact
• Negative Sentiment: The revised agreements reduce Hess Midstream’s Bakken tariffs, while Chevron plans to reduce its Bakken rig count. Expected lower volumes and midstream earnings highlight execution and production risks, even though the changes should improve Chevron’s unit economics. Hess Midstream deal resets fees and 2027 EBITDA

Chevron Company Profile

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.