Chevron (NYSE:CVX) Stock Falls 1.1% – Time to Sell?

Chevron Corporation (NYSE:CVX)’s stock price fell 1.1% on Wednesday. The company traded as low as $204.86 and last traded at $205.2630. Approximately 5,700,855 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 10,509,698 shares. The stock had previously closed at $207.58.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil prices are supporting the stock. Crude rose above $92.60 per barrel amid Middle East supply concerns, improving the outlook for Chevron’s upstream cash flow. UBS also raised its price target to $235. Why Is Chevron Stock Surging on Thursday?
• Positive Sentiment: Analyst support remains constructive. Piper Sandler maintained its Buy rating, while Zacks highlighted Chevron as its Bull of the Day. The positive views emphasize Chevron’s cash generation, shareholder returns and potential benefits from elevated energy prices. Piper Sandler Sticks to Their Buy Rating for Chevron
• Positive Sentiment: Chevron’s portfolio restructuring could improve long-term efficiency. The company is transferring its Hess Midstream ownership and DJ Basin assets in exchange for revised Bakken contract terms and approximately $200 million in cash. The transaction is intended to simplify the portfolio, reduce costs and address roughly $3 billion to $4 billion of value or balance-sheet pressure. Chevron Is Offloading Hess Midstream and Taking a $3 Billion to $4 Billion Hit
• Neutral Sentiment: Gulf storm disruptions have mixed implications. Chevron shut in four Gulf facilities as Tropical Storm Isaias approached, contributing to broader regional production cuts. Reduced supply may support crude prices, but the shutdowns could temporarily reduce Chevron’s output and raise operating costs. Big Oil Begins Shutting In Gulf of Mexico Production
• Negative Sentiment: The Hess Midstream transaction carries near-term financial costs. Reports indicate the deal will lower Hess Midstream’s earnings and may result in a substantial hit for Chevron, even though it provides longer-term contractual and cost benefits. Investors may remain focused on execution and the size of the write-down. Latham Advises Chevron on Divestiture of Hess Midstream and DJ Basin Assets

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research reports. Morgan Stanley raised their target price on shares of Chevron from $210.00 to $218.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Bank of America upped their price target on shares of Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. TD Cowen increased their price objective on shares of Chevron from $205.00 to $215.00 and gave the company a “hold” rating in a research note on Monday, September 28th. Royal Bank Of Canada lifted their price objective on shares of Chevron from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, September 24th. Finally, Weiss Ratings raised shares of Chevron from a “hold (c)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.24.

Chevron Stock Up 0.7%

The company’s fifty day simple moving average is $204.21 and its 200-day simple moving average is $192.94. The firm has a market capitalization of $420.99 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 0.57 and a beta of 0.53. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 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 analyst estimates of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The business’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.77 EPS. On average, analysts forecast that Chevron Corporation will post 17.47 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Wednesday, August 19th. Chevron’s payout ratio is presently 68.26%.

Insider Transactions at Chevron

In other Chevron news, CEO Michael Wirth sold 317,100 shares of Chevron stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the completion of the sale, the chief executive officer owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. The trade was a 92.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider R. Pate sold 2,470 shares of Chevron stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total value of $506,621.70. Following the sale, the insider directly owned 10,794 shares of the company’s stock, valued at $2,213,957.34. This trade represents a 18.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,152,582 shares of company stock worth $225,853,661. Insiders own 0.56% of the company’s stock.

Institutional Trading of Chevron

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Riversedge Advisors LLC lifted its holdings in Chevron by 9.4% in the third quarter. Riversedge Advisors LLC now owns 8,148 shares of the oil and gas company’s stock valued at $1,664,000 after acquiring an additional 703 shares during the period. Wedmont Private Capital increased its holdings in shares of Chevron by 77.7% during the 3rd quarter. Wedmont Private Capital now owns 37,933 shares of the oil and gas company’s stock valued at $8,570,000 after purchasing an additional 16,590 shares in the last quarter. Intelligence Driven Advisers LLC lifted its stake in shares of Chevron by 11.4% in the 3rd quarter. Intelligence Driven Advisers LLC now owns 1,727 shares of the oil and gas company’s stock valued at $353,000 after purchasing an additional 177 shares during the period. Athena Wealth Management LLC lifted its stake in shares of Chevron by 34.7% in the 3rd quarter. Athena Wealth Management LLC now owns 6,085 shares of the oil and gas company’s stock valued at $1,357,000 after purchasing an additional 1,568 shares during the period. Finally, Journey Retirement Planning & Investment Management LLC boosted its holdings in Chevron by 25.5% during the third quarter. Journey Retirement Planning & Investment Management LLC now owns 3,694 shares of the oil and gas company’s stock worth $755,000 after buying an additional 750 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

About Chevron

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.