Chevron (NYSE:CVX) Shares Down 1.3% – Here’s What Happened

Chevron Corporation (NYSE:CVX) shares traded down 1.3% on Tuesday . The company traded as low as $185.47 and last traded at $186.7790. 7,808,671 shares changed hands during trading, a decline of 34% from the average session volume of 11,851,628 shares. The stock had previously closed at $189.24.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is being highlighted as a top long-term stock and one of the better energy dividend names, reinforcing the appeal of its yield and defensive cash-return profile for income-focused investors.
• Positive Sentiment: Chevron is advancing a major $13.8 billion unconventional oil project in Argentina’s Vaca Muerta basin, a potential growth catalyst that could meaningfully expand future production and reserves. Article Title
• Positive Sentiment: Chevron is also being mentioned in broader energy-stock coverage as a beneficiary of stronger sector momentum, with oil stocks and the Energy Select Sector ETF showing renewed strength. Article Title
• Neutral Sentiment: Several articles are largely educational or theme-driven, including dividend and “top stock” roundups, which may keep Chevron on investors’ radar but do not add a new company-specific catalyst. Article Title
• Neutral Sentiment: One article notes Chevron’s long history of dividend reinvestment compounding returns, which is supportive of the stock’s income-investor appeal but not a fresh operational development. Article Title

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Sanford C. Bernstein dropped their price objective on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research note on Monday, May 11th. Morgan Stanley raised their price objective on shares of Chevron from $212.00 to $214.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Bank of America raised their price objective on shares of Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Finally, HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a research note on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $205.70.

Chevron Stock Performance

The stock’s 50-day moving average is $190.29 and its 200-day moving average is $177.22. The stock has a market cap of $371.99 billion, a price-to-earnings ratio of 32.37, a price-to-earnings-growth ratio of 0.62 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. During the same quarter last year, the business earned $2.18 earnings per share. Chevron’s revenue was up 2.1% compared to the same quarter last year. Analysts anticipate that Chevron Corporation will post 15.74 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be given a dividend of $1.78 per share. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. Chevron’s dividend payout ratio (DPR) is 123.40%.

Insider Buying and Selling

In related news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director owned 278,045 shares in the company, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction on Monday, March 30th. The shares were sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the transaction, the insider owned 8,638 shares in the company, valued at approximately $1,842,485.40. This trade represents a 82.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 615,200 shares of company stock worth $118,022,760. 0.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chevron

A number of hedge funds have recently made changes to their positions in CVX. United Bank boosted its holdings in shares of Chevron by 7.7% in 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 during the last quarter. Schnieders Capital Management LLC. lifted its holdings in shares of Chevron by 9.0% during 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 acquiring an additional 4,214 shares in the last quarter. BNP Paribas lifted its holdings in shares of Chevron by 76.4% during the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock valued at $63,000 after acquiring an additional 191 shares in the last quarter. Osterweis Capital Management Inc. lifted its holdings in shares of Chevron by 678.9% during the 2nd quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock valued at $195,000 after acquiring an additional 1,188 shares in the last quarter. Finally, Main Street Financial Solutions LLC lifted its holdings in shares of Chevron by 3.6% during the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock valued at $2,299,000 after acquiring an additional 553 shares in the last quarter. Institutional investors and hedge funds 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.