Key Points
- Chevron insider R. Hewitt Pate sold 2,470 shares at an average price of $205.11, worth approximately $506,622, reducing his ownership by 18.62% to 10,794 shares.
- Chevron exceeded quarterly expectations, reporting $6.06 EPS versus $5.55 expected and $67.2 billion in revenue versus $62.72 billion forecast. The company also declared a $1.78 quarterly dividend, equivalent to a 3.5% annual yield.
- Analysts maintain a generally positive outlook, with 20 Buy ratings, five Holds and one Sell, producing a “Moderate Buy” consensus and a $207.48 average price target.
Chevron Corporation (NYSE:CVX - Get Free Report) insider R. Hewitt Pate sold 2,470 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total transaction of $506,621.70. Following the transaction, the insider owned 10,794 shares of the company's stock, valued at $2,213,957.34. This represents a 18.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Chevron Stock Up 0.0%
Chevron stock opened at $205.85 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71. The business's 50-day moving average price is $184.67 and its 200 day moving average price is $187.95. The firm has a market cap of $406.71 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 0.63 and a beta of 0.49.
Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (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 analysts' expectations of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business's revenue was up 57.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.77 EPS. As a group, sell-side analysts anticipate that Chevron Corporation will post 15.86 earnings per share for the current year.
Chevron Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron's dividend payout ratio (DPR) is presently 68.26%.
More Chevron News
Here are the key news stories impacting Chevron this week:
- Positive Sentiment: Brent crude approached $94–$95 per barrel after a fifth consecutive daily gain, driven by renewed Middle East tensions and disruption concerns around the Strait of Hormuz. Higher oil prices generally improve Chevron’s upstream revenue, margins and shareholder-return capacity. Chevron jumps as Brent crude approaches $94
- Positive Sentiment: Chevron confirmed an oil and gas condensate discovery at the 105-4X well in offshore Angola’s Block 0. Because the discovery is near existing infrastructure, a potential tie-back could provide a relatively cost-efficient path to additional production and strengthen long-term growth prospects. Chevron Angola discovery analysis
- Positive Sentiment: Equinor’s agreement to acquire a 17.4% interest in Chevron-operated offshore Namibia exploration license PEL 90 will help share exploration costs while Chevron retains operatorship. The arrangement reduces CVX’s financial exposure ahead of planned drilling. Chevron and Equinor strengthen Namibia exploration
- Positive Sentiment: Technical and options-market signals are supportive: reports say CVX broke above roughly $196 resistance, while traders purchased an unusually large volume of call options. Morgan Stanley also expects the stock to reach a new high and maintains a constructive view.
- Positive Sentiment: Chevron’s $1.78 quarterly dividend, equivalent to $7.12 annually and an approximate 3.5% yield, continues to attract income-focused investors. The company’s recent quarterly results also exceeded expectations, with EPS of $6.06 versus $5.55 expected and revenue of $67.2 billion versus $62.72 billion forecast.
- Neutral Sentiment: Despite the favorable catalysts, Chevron’s near-term performance remains highly dependent on crude prices. A de-escalation in the Middle East or a pullback in oil could reverse some of the recent energy-sector momentum.
- Negative Sentiment: Insider selling may create a modest sentiment overhang. Andrew Benjamin Walz sold 16,800 shares, leaving 14 shares, while R. Hewitt Pate sold 2,470 shares. These transactions may reflect personal liquidity or diversification rather than a negative view of Chevron’s outlook. Chevron insider sale report
Institutional Investors Weigh In On Chevron
Large investors have recently modified their holdings of the company. Midwest Capital Advisors LLC purchased a new position in shares of Chevron during the first quarter worth about $25,000. Main Street Group LTD purchased a new position in shares of Chevron in the 1st quarter valued at about $28,000. Phillip James Consulting Co. purchased a new stake in shares of Chevron during the 4th quarter worth approximately $26,000. Kilter Group LLC acquired a new stake in Chevron in the second quarter valued at $28,000. Finally, Core Wealth Advisors LLC acquired a new stake in Chevron in the 4th quarter valued at about $26,000. 72.42% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
CVX has been the subject of several research reports. Bank of America boosted their price target on Chevron from $210.00 to $227.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Zacks Research lowered Chevron from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 8th. Mizuho set a $224.00 price target on shares of Chevron in a research report on Monday, August 3rd. Wolfe Research upgraded Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 price objective on the stock in a report on Thursday, July 2nd. Finally, 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 research report on Monday. Twenty research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of "Moderate Buy" and a consensus price target of $207.48.
Read Our Latest Report on CVX
About Chevron
(
Get Free Report)
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.
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