Chevron (NYSE:CVX) Stock Price Down 1.2% – Here’s What Happened

Chevron Corporation (NYSE:CVX) was down 1.2% during mid-day trading on Wednesday . The stock traded as low as $184.04 and last traded at $184.86. Approximately 8,633,484 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 13,060,772 shares. The stock had previously closed at $187.02.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil-price backdrop from Middle East tensions supports cash flow and refining margins; talks to extend a U.S.–Iran ceasefire and ongoing Strait of Hormuz uncertainty have kept crude elevated near the mid‑$90s–$100 range, which benefits integrated producers like Chevron. US, Iran Consider Extending Ceasefire
• Positive Sentiment: Chevron’s strategic asset swap with PDVSA increases its Petroindependencia stake and expands exposure in Venezuela’s Orinoco heavy‑oil Belt — a long‑term production and value catalyst if sanctions/operations remain manageable. This deal has been a primary driver of recent investor enthusiasm. Chevron Expands Venezuela Heavy Oil Footprint
• Positive Sentiment: Company commentary and coverage point to stronger Q1 profits given the higher price environment, supporting near‑term earnings expectations for CVX. Chevron Expects Higher Q1 Profits
• Neutral Sentiment: High‑profile bullish mentions (Jim Cramer) and positive sector notes have supported interest in Chevron, but such media-driven flows can be short‑lived and already factored into recent moves. Jim Cramer Says ‘Buy Chevron’
• Neutral Sentiment: Multiple valuation and compare‑stock writeups (PBR vs CVX, DCF/price‑fairness pieces) are prompting debate over whether the recent pullback is a buying opportunity — these generate analyst attention but don’t change fundamentals immediately. PBR vs. CVX: Which Stock Is the Better Value Option?
• Negative Sentiment: Execution/notification uncertainty in Venezuela: Suelopetrol says it hasn’t been formally notified about Chevron’s expanded stake, introducing governance and implementation risk that could delay value realization from the asset‑swap. Suelopetrol Has Not Been Notified
• Negative Sentiment: Mixed analyst moves: while some firms/analysts turned more positive (RBC coverage noted), others (TD Cowen via press recaps) have trimmed expectations — these offsets can pressure the stock as investors reassess near‑term upside. TD Cowen Lowers Expectations

Analysts Set New Price Targets

CVX has been the topic of a number of analyst reports. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Morgan Stanley upped their price target on Chevron from $174.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, March 27th. Freedom Capital lowered Chevron from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 6th. Barclays upped their price target on Chevron from $172.00 to $180.00 and gave the company an “equal weight” rating in a research report on Monday, March 16th. Finally, Bank of America upped their price target on Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.09.

Chevron Price Performance

The company has a market capitalization of $368.29 billion, a price-to-earnings ratio of 27.76, a P/E/G ratio of 1.42 and a beta of 0.60. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.15. The business has a 50 day moving average price of $192.03 and a 200-day moving average price of $168.52.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.08. The company had revenue of $45.79 billion for the quarter, compared to the consensus estimate of $48.18 billion. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The firm’s revenue was down 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.06 EPS. Research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were paid a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.9%. This is a positive change from Chevron’s previous quarterly dividend of $1.71. Chevron’s dividend payout ratio (DPR) is presently 106.91%.

Insider Buying and Selling

In other news, insider R. Hewitt Pate sold 58,000 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $188.65, for a total value of $10,941,700.00. Following the transaction, the insider directly owned 8,558 shares of the company’s stock, valued at $1,614,466.70. The trade was a 87.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $187.92, for a total value of $26,233,632.00. Following the completion of the transaction, the insider directly owned 11,337 shares in the company, valued at $2,130,449.04. This represents a 92.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 779,407 shares of company stock worth $145,972,971 over the last three months. Insiders own 0.20% of the company’s stock.

Institutional Trading of Chevron

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WESPAC Advisors SoCal LLC bought a new stake in Chevron in the 1st quarter valued at about $239,000. McAlvany Wealth Management LLC bought a new stake in Chevron in the 4th quarter valued at about $1,729,000. J. Derek Lewis & Associates Inc. bought a new stake in Chevron in the 4th quarter valued at about $694,000. Cornerstone Planning LLC bought a new stake in Chevron in the 4th quarter valued at about $2,986,000. Finally, Rockefeller Capital Management L.P. increased its position in Chevron by 13.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,456,172 shares of the oil and gas company’s stock valued at $221,936,000 after buying an additional 167,792 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

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.