Zacks Research Downgrades Chevron (NYSE:CVX) to Hold

Chevron (NYSE:CVX) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

CVX has been the topic of a number of other research reports. Melius Research raised Chevron from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a research note on Tuesday, February 17th. The Goldman Sachs Group reissued a “buy” rating and issued a $216.00 target price on shares of Chevron in a research note on Wednesday, May 6th. Bank of America increased 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. Wells Fargo & Company increased their target price on Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Finally, BNP Paribas Exane raised Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 target price on the stock in a research note on Friday, April 17th. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average target price of $205.70.

Chevron Trading Down 1.3%

Chevron stock opened at $186.78 on Monday. The stock has a market cap of $371.99 billion, a P/E ratio of 32.37, a PEG ratio of 0.63 and a beta of 0.48. Chevron has a fifty-two week low of $141.91 and a fifty-two week high of $214.71. The firm’s fifty day moving average price is $189.80 and its 200-day moving average price is $177.47. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09.

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

Insider Transactions at Chevron

In other news, insider R. Hewitt Pate sold 40,200 shares of the firm’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the transaction, the insider directly owned 8,638 shares of the company’s stock, valued at approximately $1,842,485.40. This trade represents a 82.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 615,200 shares of company stock worth $118,022,760 over the last ninety days. Insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Chevron by 17.9% during the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock valued at $28,540,753,000 after buying an additional 27,961,463 shares during the last quarter. State Street Corp grew 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 buying an additional 12,789,399 shares during the last quarter. Berkshire Hathaway Inc boosted its holdings in shares of 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 during the period. Geode Capital Management LLC boosted its holdings in shares of Chevron by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock worth $6,620,187,000 after purchasing an additional 134,890 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Chevron by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company’s stock worth $5,492,377,000 after purchasing an additional 961,341 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is being highlighted as a long-term, income-focused energy name thanks to its dependable dividend profile and resilient business model, which supports investor interest in the stock. Want Income? Buy These 3 Top Energy Dividend Stocks Now
• Positive Sentiment: Analysts continue to point to Chevron as a top stock for the long term, reinforcing the view that the company remains one of the stronger large-cap energy holdings. Why Chevron (CVX) is a Top Stock for the Long-Term
• Positive Sentiment: Chevron is also being included among energy stocks positioned to benefit from rising power demand tied to the AI buildout, which could support future energy demand and sector sentiment. 3 Energy Stocks Built for the AI Power Boom—And Beyond (CVX)
• Positive Sentiment: Chevron’s push to advance a large $13.8 billion unconventional oil project in Argentina’s Vaca Muerta basin could be a meaningful long-term growth driver if approved. Chevron Advances Unconventional Oil Project in Argentina’s Vaca Muerta
• Neutral Sentiment: Several articles note renewed investor interest in Chevron and broader energy stocks, but these are more commentary-driven than company-specific catalysts. Here is What to Know Beyond Why Chevron Corporation (CVX) is a Trending Stock
• Neutral Sentiment: A feature on Chevron’s dividend reinvestment performance underscores the company’s long-term wealth-building history, but it is not a new operational catalyst. How Chevron Turned $1,000 Into $3,500 With Reinvested Dividends

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.