Chevron (NYSE:CVX) Trading 3.5% Higher – What’s Next?

Chevron Corporation (NYSE:CVX) shares traded up 3.5% during trading on Tuesday . The stock traded as high as $174.61 and last traded at $173.9590. 8,936,202 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 11,636,326 shares. The stock had previously closed at $168.10.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Rising crude prices tied to the fraying U.S.-Iran ceasefire and concern over the Strait of Hormuz are boosting Chevron and other oil stocks, since higher oil prices can lift upstream earnings and cash flow. Ceasefire Cracks, Oil Bounces: Why Exxon, Chevron Stocks Are Hot Again
• Positive Sentiment: Chevron announced a technology licensing deal with ZL Chemicals to commercialize its enhanced oil recovery and surfactant technology, which could improve shale output and extend well life, a potentially supportive long-term growth story. Chevron offers rival drillers its chemical technology to boost shale oil output
• Positive Sentiment: Analyst coverage remains constructive, with RBC reiterating a Buy rating and a $220 target, reinforcing the view that Chevron still has upside despite recent volatility. Chevron’s (CVX) Data Center Ambitions Are A Great Way To Play The AI Power Bottleneck
• Neutral Sentiment: Articles highlighting Chevron as a strong dividend and blue-chip energy holding may support investor interest, but they are mostly reiterations of existing investment themes rather than new catalysts. Chevron (CVX) – Among the 14 Best Blue Chip Dividend Stocks to Buy According to Hedge Funds
• Neutral Sentiment: Broad market commentary about expensive U.S. stocks and energy-sector technical indicators is more relevant to sector allocation than to a direct Chevron-specific catalyst. Are Energy Stocks Still A Long-Term Buy (Technical Analysis)?
• Negative Sentiment: Chevron is facing renewed political scrutiny as the U.S. government reportedly explores a DOJ probe into possible price gouging, which could weigh on sentiment if the investigation broadens. Chevron (CVX) Faces DOJ Probe As Iran Tensions Raise Record Profit Stakes
• Negative Sentiment: The tanker drone attack in the Black Sea adds operational risk around Chevron-linked shipping activity, even if the direct financial impact is unclear for now. Chevron tanker used for CPC oil hit by drone in Black Sea

Analyst Ratings Changes

A number of research analysts recently commented on CVX shares. Mizuho upped their price objective on Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. UBS Group reaffirmed a “buy” rating on shares of Chevron in a report on Tuesday, June 23rd. Tudor Pickering raised Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target for the company in a research note on Thursday, April 9th. Wolfe Research raised shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a report on Thursday, July 2nd. Finally, BNP Paribas Exane upgraded shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target on the stock in a research report on Friday, April 17th. Nineteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $205.71.

Chevron Stock Down 1.0%

The firm has a market capitalization of $346.80 billion, a price-to-earnings ratio of 30.18, a PEG ratio of 0.59 and a beta of 0.50. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock has a fifty day moving average of $182.51 and a 200-day moving average of $181.14.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter last year, the firm posted $2.18 earnings per share. Chevron’s revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts expect that Chevron Corporation will post 15.28 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were paid a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.1%. Chevron’s dividend payout ratio is 123.40%.

Insiders Place Their Bets

In other news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the sale, the director directly owned 278,045 shares in the company, valued at $53,718,294. The trade was a 57.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Midwest Capital Advisors LLC acquired a new position in Chevron during the first quarter valued at approximately $25,000. Core Wealth Advisors LLC bought a new stake in shares of Chevron in the fourth quarter valued at approximately $26,000. Phillip James Consulting Co. acquired a new stake in shares of Chevron in the fourth quarter worth $26,000. Basso Capital Management L.P. acquired a new position in Chevron during the 4th quarter valued at $27,000. Finally, Karpus Management Inc. bought a new stake in Chevron in the 4th quarter valued at $27,000. Institutional investors 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.