Chevron (NYSE:CVX) Stock Price Down 1.3% – Here’s Why

Chevron Corporation (NYSE:CVX)’s stock price dropped 1.3% on Tuesday . The stock traded as low as $185.47 and last traded at $186.7790. Approximately 7,808,671 shares traded hands during trading, a decline of 34% from the average daily volume of 11,851,628 shares. The stock had previously closed at $189.24.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is being highlighted as a top long-term stock and one of the better energy dividend names, reinforcing the appeal of its yield and defensive cash-return profile for income-focused investors.
• Positive Sentiment: Chevron is advancing a major $13.8 billion unconventional oil project in Argentina’s Vaca Muerta basin, a potential growth catalyst that could meaningfully expand future production and reserves. Article Title
• Positive Sentiment: Chevron is also being mentioned in broader energy-stock coverage as a beneficiary of stronger sector momentum, with oil stocks and the Energy Select Sector ETF showing renewed strength. Article Title
• Neutral Sentiment: Several articles are largely educational or theme-driven, including dividend and “top stock” roundups, which may keep Chevron on investors’ radar but do not add a new company-specific catalyst. Article Title
• Neutral Sentiment: One article notes Chevron’s long history of dividend reinvestment compounding returns, which is supportive of the stock’s income-investor appeal but not a fresh operational development. Article Title

Analyst Ratings Changes

CVX has been the topic of several recent research reports. Scotiabank lifted their target price on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Piper Sandler lifted their target price on shares of Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Morgan Stanley lifted their target price on shares of Chevron from $212.00 to $214.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Wells Fargo & Company lifted their target price on shares of Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Finally, Weiss Ratings downgraded shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $205.70.

Chevron Price Performance

The stock has a market cap of $371.99 billion, a PE ratio of 32.37, a P/E/G ratio of 0.62 and a beta of 0.48. 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 company’s 50 day moving average is $190.29 and its 200-day moving average is $177.22.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. During the same quarter in the previous year, the firm posted $2.18 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts predict that Chevron Corporation will post 15.74 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be given a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. Chevron’s payout ratio is presently 123.40%.

Insider Activity

In other news, Director John B. Hess sold 380,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the sale, the director owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. The trade was a 57.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of the business’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the sale, the insider directly owned 8,638 shares of the company’s stock, valued at $1,842,485.40. The trade was a 82.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 615,200 shares of company stock valued at $118,022,760 in the last three months. Insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CVX. Dakota Wealth Management lifted its holdings in Chevron by 14.9% during the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company’s stock valued at $12,690,000 after purchasing an additional 10,822 shares during the last quarter. Brooklyn FI LLC bought a new position in Chevron during the 3rd quarter valued at about $431,000. Clear Trail Advisors LLC bought a new position in Chevron during the 4th quarter valued at about $10,167,000. Finemark National Bank & Trust lifted its holdings in Chevron by 40.3% during the 3rd quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company’s stock valued at $8,779,000 after purchasing an additional 16,243 shares during the last quarter. Finally, Curtis Advisory Group LLC bought a new position in Chevron during the 4th quarter valued at about $1,381,000. 72.42% of the stock is owned by institutional investors and hedge funds.

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.