Chevron (NYSE:CVX) Stock Price Down 2.2% – Here’s What Happened

Chevron Corporation (NYSE:CVX)’s share price dropped 2.2% during trading on Friday . The stock traded as low as $177.74 and last traded at $184.08. Approximately 15,601,852 shares changed hands during trading, an increase of 20% from the average daily volume of 13,026,872 shares. The stock had previously closed at $188.15.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: High yield and income appeal — Coverage highlights Chevron as a top dividend stock and notes very attractive forward yields for early buyers, supporting investor demand for income. Read More.
• Positive Sentiment: Strong balance sheet and capital resilience — Analysts and commentary rank Chevron just behind Exxon on financial strength, suggesting it can withstand oil‑price swings and sustain buybacks/dividends. Read More.
• Positive Sentiment: Buy‑the‑dip sentiment and options trade ideas — Several outlets and services are pitching CVX as a tactical buy after the pullback, which could attract short‑term dip buyers. Read More.
• Positive Sentiment: Hess acquisition seen as strategically accretive — Analysis argues the $53B Hess deal may have been timed well and should add production and cash flow over time, supporting long‑term upside. Read More.
• Neutral Sentiment: Peer comparison — A note compares Petrobras and Chevron, highlighting Petrobras’ growth edge; useful for investors weighing growth vs stability but not an immediate catalyst. Read More.
• Neutral Sentiment: Regulatory/bill developments — The House passed H.R. 6409 relating to foreign emissions treatment; impact on Chevron is uncertain and longer‑term if enacted. Read More.
• Negative Sentiment: Immediate oil‑price shock and Strait reopening — Markets rallied broadly but oil prices fell after the Strait of Hormuz reopened, prompting a pullback in oil majors including Chevron. Read More.
• Negative Sentiment: Analyst downgrade and short‑term selling — A reported analyst downgrade contributed to yesterday’s slide and continues to pressure the name amid lower oil. Read More.
• Negative Sentiment: Headline risk from Iran war developments — Commentary notes that signs the Iran‑driven risk premium is easing (or the war ending) reduced the war‑related premium that had boosted CVX, producing volatility. Read More.

Wall Street Analysts Forecast Growth

CVX has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 price target for the company in a research note on Tuesday, January 20th. Tudor Pickering upgraded 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. Zacks Research upgraded Chevron from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 3rd. Sanford C. Bernstein upped their price target on Chevron from $170.00 to $172.00 and gave the stock a “market perform” rating in a research note on Monday, January 5th. Finally, Scotiabank upgraded Chevron to a “hold” rating in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $194.21.

Chevron Price Performance

The stock has a fifty day moving average of $192.34 and a two-hundred day moving average of $169.06. The stock has a market cap of $366.74 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 1.20 and a beta of 0.60. 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 announced its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, topping 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 firm 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 company posted $2.06 earnings per share. Chevron’s quarterly revenue was down 10.2% on a year-over-year basis. On average, equities research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were issued a dividend of $1.78 per share. This is a boost from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, February 17th. Chevron’s dividend payout ratio is currently 106.91%.

Insider Buying and Selling

In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of the company’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the sale, the insider owned 8,638 shares of the company’s stock, valued at approximately $1,842,485.40. This represents a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the company’s 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 completion of the sale, the insider directly owned 11,337 shares in the company, valued at $2,130,449.04. This trade represents a 92.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 779,407 shares of company stock valued at $145,972,971 in the last three months. 0.21% of the stock is owned by insiders.

Institutional Trading of Chevron

Several large investors have recently bought and sold shares of CVX. Core Wealth Advisors LLC acquired a new stake in Chevron in the fourth quarter valued at $26,000. Phillip James Consulting Co. acquired a new stake in Chevron in the fourth quarter valued at $26,000. Basso Capital Management L.P. purchased a new stake in shares of Chevron in the fourth quarter valued at $27,000. Karpus Management Inc. purchased a new stake in shares of Chevron in the fourth quarter valued at $27,000. Finally, Quattro Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter valued at $27,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

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.