Chevron (NYSE:CVX) Shares Up 2.9% After Analyst Upgrade

Chevron Corporation (NYSE:CVX)’s share price was up 2.9% during trading on Thursday after Piper Sandler raised their price target on the stock from $179.00 to $242.00. Piper Sandler currently has an overweight rating on the stock. Chevron traded as high as $198.88 and last traded at $197.3120. Approximately 26,970,656 shares traded hands during mid-day trading, an increase of 116% from the average daily volume of 12,500,353 shares. The stock had previously closed at $191.79.

Other analysts have also issued research reports about the company. Scotiabank restated a “sector perform” rating and issued a $168.00 target price on shares of Chevron in a report on Friday, January 16th. Citigroup lifted their price target on Chevron from $179.00 to $210.00 and gave the company a “buy” rating in a report on Monday, March 2nd. 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. Freedom Capital lowered Chevron from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 6th. Finally, Jefferies Financial Group lifted their target price on Chevron from $174.00 to $189.00 and gave the company a “buy” rating in a research note on Wednesday, January 14th. Thirteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Chevron has a consensus rating of “Hold” and a consensus target price of $182.05.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 320,700 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $162.99, for a total value of $52,270,893.00. Following the transaction, the chief executive officer directly owned 14,450 shares of the company’s stock, valued at approximately $2,355,205.50. This represents a 95.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of Chevron stock in a transaction on 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 sale, the insider directly owned 11,337 shares of the company’s stock, valued at approximately $2,130,449.04. The trade was a 92.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,099,397 shares of company stock valued at $196,196,468. 0.21% of the stock is owned by insiders.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Piper Sandler raised its price target on Chevron to $242 and kept an “overweight” rating — a sizable analyst upgrade that can attract institutional and momentum buying. Piper Sandler raises target to $242 (Benzinga)
• Positive Sentiment: Chevron increased its offshore footprint in the Gulf of Mexico via new lease bids, signaling continued upstream investment and confidence in long‑life deepwater assets. Chevron Expands Gulf of Mexico Presence With Latest Lease Sale (Zacks)
• Positive Sentiment: Reports that Chevron and Shell are closing in on major Venezuela production deals point to potential long‑term volume upside if agreements are finalized. Chevron, Shell near deals in Venezuela (Reuters/MSN)
• Neutral Sentiment: Macro flow: governments/IEA and the U.S. have signaled SPR releases or taps to stabilize fuel prices — this cap on a runaway oil rally both supports economic stability but could limit upside for CVX if crude eases. Trump says he’ll tap SPR (CNBC)
• Neutral Sentiment: Chevron was among top bidders at a recent small Gulf of Mexico auction — signals active resource allocation but not a material near‑term earnings change. BP, Chevron top spenders at Gulf auction (Reuters)
• Negative Sentiment: Regulatory hit: Chevron agreed to pay a $1M penalty and retire $3.6M of invalid renewable fuel credits — a modest financial hit but a reminder of compliance and reputational risk. Chevron hit with $1M penalty (Benzinga)
• Negative Sentiment: Insider selling: a disclosure shows R. Hewitt Pate sold 47,200 shares in recent filings — can be interpreted by some investors as a signal to trim exposure. Insider sells 47,200 shares (AmericanBankingNews)
• Negative Sentiment: Momentum risk: MarketBeat and technical indicators warn the rally may be stretched and vulnerable to profit‑taking if oil prices retreat — watch crude and momentum signals closely. Chevron hits new highs but is it sustainable? (MarketBeat)

Hedge Funds Weigh In On Chevron

Hedge funds have recently added to or reduced their stakes in the company. D.B. Root & Company LLC lifted its stake in shares of Chevron by 1.0% in the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock valued at $846,000 after purchasing an additional 57 shares during the last quarter. Fox Hill Wealth Management increased its position in Chevron by 1.7% during the fourth quarter. Fox Hill Wealth Management now owns 3,443 shares of the oil and gas company’s stock worth $525,000 after buying an additional 57 shares during the last quarter. Cornerstone Planning Group LLC increased its position in Chevron by 6.8% during the fourth quarter. Cornerstone Planning Group LLC now owns 930 shares of the oil and gas company’s stock worth $142,000 after buying an additional 59 shares during the last quarter. MMA Asset Management LLC raised its holdings in Chevron by 3.4% during the fourth quarter. MMA Asset Management LLC now owns 1,820 shares of the oil and gas company’s stock valued at $277,000 after buying an additional 59 shares in the last quarter. Finally, EWA LLC lifted its position in shares of Chevron by 2.8% in the fourth quarter. EWA LLC now owns 2,182 shares of the oil and gas company’s stock worth $333,000 after buying an additional 59 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 2.9%

The company has a market cap of $393.71 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 1.87 and a beta of 0.67. The business has a 50-day simple moving average of $175.61 and a two-hundred day simple moving average of $161.50. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21.

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

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were given a $1.78 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, February 17th. Chevron’s payout ratio is 106.91%.

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.