NYSE:CVX

Chevron (CVX) Stock Forecast, Price & News

$164.15

+3.32 (+2.06%)

(As of 08/11/2023 08:48 PM ET)

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Today's Range: $160.18
▼
$164.17
50-Day Range: $151.39
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$164.15
52-Week Range: $140.46
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$189.68

Volume: 6.68 million shs
Average Volume: 8.13 million shs
Market Capitalization: $306.51 billion

P/E Ratio: 10.41
Dividend Yield: 3.68%
Price Target: $190.17

Chevron MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.61 Rating Score
Upside/Downside: 15.8% Upside
$190.17 Price Target
Short Interest: Healthy
1.03% of Float Sold Short
Dividend Strength: Strong
Based on Four Factors
Sustainability: -7.96
Upright™ Environmental Score
News Sentiment: 0.39
Based on 25 Articles This Week
Insider Trading: Selling Shares
$603,300 Sold Last Quarter
Proj. Earnings Growth: 10.48%
From $13.26 to $14.65 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

3.19 out of 5 stars

Oils/Energy Sector

8th out of 252 stocks

Petroleum Refining Industry

1st out of 17 stocks

3.3

Analyst's Opinion

Consensus Rating
Chevron has received a consensus rating of Moderate Buy. The company's average rating score is 2.61, and is based on 11 buy ratings, 7 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $190.17, Chevron has a forecasted upside of 15.8% from its current price of $164.15.
Amount of Analyst Coverage
Chevron has been the subject of 6 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

4.0

Short Interest

Percentage of Shares Shorted
1.03% of the float of Chevron has been sold short.
Short Interest Ratio / Days to Cover
Chevron has a short interest ratio ("days to cover") of 2.5, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Chevron has recently decreased by 0.46%, indicating that investor sentiment is improving.

5.0

Dividend Strength

Dividend Leadership
Chevron is a leading dividend payer. It pays a dividend yield of 3.68%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
Chevron has been increasing its dividend for 37 years.
Dividend Coverage
The dividend payout ratio of Chevron is 38.30%. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, Chevron will have a dividend payout ratio of 41.23% next year. This indicates that Chevron will be able to sustain or increase its dividend.

0.0

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Chevron has received a -114.09% net impact score from Upright. The largest negative impact of Chevron in category "GHG emissions" seems to be driven mostly by its "Electricity produced with crude oil", "Refined oil", "Crude oil", "Retail of diesel at a gas station", and "Refined natural gas" products. See details.
Environmental Sustainability
The Environmental Impact score for Chevron is -7.96.

3.0

News and Social Media Coverage

News Sentiment
Chevron has a news sentiment score of 0.39. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.52 average news sentiment score of Oils/Energy companies.
News Coverage This Week
MarketBeat has tracked 25 news articles for Chevron this week, compared to 20 articles on an average week.
Search Interest
233 people have searched for CVX on MarketBeat in the last 30 days. This is an increase of 36% compared to the previous 30 days.
MarketBeat Follows
84 people have added Chevron to their MarketBeat watchlist in the last 30 days. This is an increase of 35% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Chevron insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $603,300.00 in company stock.
Percentage Held by Insiders
Only 0.18% of the stock of Chevron is held by insiders.
Percentage Held by Institutions
69.65% of the stock of Chevron is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

3.8

Earnings and Valuation

Earnings Growth
Earnings for Chevron are expected to grow by 10.48% in the coming year, from $13.26 to $14.65 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Chevron is 10.41, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 125.16.
Price to Earnings Ratio vs. Sector
The P/E ratio of Chevron is 10.41, which means that it is trading at a less expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 11.98.
Price to Earnings Growth Ratio
Chevron has a PEG Ratio of 0.87. PEG Ratios below 1 indicate that a company could be undervalued.
Price to Book Value per Share Ratio
Chevron has a P/B Ratio of 1.92. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Chevron (NYSE:CVX) Stock

Chevron Corporation, through a network of subsidiaries, engages in integrated energy and chemicals operations worldwide. The company is the 7th largest integrated oil company worldwide, the 2nd largest in the US, and has been in operation since 1879. Chevron was part of the original Standard Oil Company and is one of the 34 successor companies that were formed when it was broken up. Today, the company brings in roughly $160 billion in annual revenues and is the last remaining oil and gas component of the Dow Jones Industrial Average.

Originally called Standard Oil Of California the company grew quickly via mergers and acquisitions. It was hailed as one of the Seven Sisters to dominate the US and global production throughout the mid-20th century and became even bigger in 1985 when it merged with Gulf Oil. The merger with Gulf Oil resulted in the rebranding from Standard Oil Of California to Chevron (a brand used by the company outside its California jurisdiction) and then ChevronTexaco Corporation in 2005 when that merger took place. The company rebranded again in 2005 to what we know today as Chevron Corporation.

Chevron Corporation is now based in San Ramone, California, and has operations in 180 countries. The company employs more than 42,500 people who operate 5 refineries and 8,000+ Texaco, Chevron, and Standard Oil service stations in the US alone. The company's Exploration and Drilling operations produced a record 3.1 million barrels per day and its US refineries process more than 1 million barrels per day. At the end of 2021, the company has more than 11.3 billion barrels of proven oil and liquid-equivalent reserves and boasted a 112% reserve replacement rate.

The company operates in two segments, Upstream and Downstream. The Upstream segment explores new reserves, develops known reserves, produces petroleum and gas products as needed, transports, processes, pipes, stores, and markets petroleum worldwide. The Downstream segment refines and markets the full line of petroleum-based products including but not limited to fuels such as gas, diesel, and aviation fuel, as well as lubricants, petrochemicals, and plastics. The company transports products via pipeline, rail, marine vessels, and truck.

Chevron recognizes the need to lower the world’s carbon output and is working toward that end. The company’s strategy is two-pronged and includes reducing its own carbon output while investing in green and lower-carbon technologies. The company’s goal is to invest $10 billion or more into lower carbon energy sources and technologies by 2028.

Chevron is a Dividend Aristocrat. The company has been paying a dividend since 1989 and it has raised it every year since its inception.

CVX Price History

30 days | 90 days | 365 days | Advanced Chart

CVX Stock News Headlines

August 11, 2023 | marketbeat.com

Energy Sector's Resurgence: 3 Stocks To Buy (CVX)

The XLE ETF surged 9% in the past month, outpacing SPY's modest 1.5% gain, marking a significant shift in the energy sector.

July 31, 2023 | marketbeat.com

3 Companies with the Biggest Share Buybacks

Share buybacks are a way for a publicly traded company to deliver value to its shareholders, and these three companies have issued some of the largest buybacks

August 14, 2023 | Chaikin Analytics (Ad)

Wall Street Insider Makes Prediction about Hot A.I. Stock

50-year Wall Street Veteran Marc Chaikin just detailed why he's avoiding NVDA and buying this overlooked A.I. stock instead. Learn more here.

July 31, 2023 | marketbeat.com

3 Companies with the Biggest Share Buybacks (CVX)

Share buybacks are a way for a publicly traded company to deliver value to its shareholders, and these three companies have issued some of the largest buybacks

July 31, 2023 | marketbeat.com

Should a Lack of Windfall Profits Keep You Out on Chevron Stock?

Despite reporting a steep year-over-year drop in earnings, Chevron's business model continues to offer value to shareholders

July 28, 2023 | marketbeat.com

Why Markets Are Loving Exxon Mobil, Despite The Earnings Dip

Exxon Mobil stock is beginning to set itself up for the perfect storm, all the stars have aligned for investors to consider a potential purchase.

July 25, 2023 | marketbeat.com

Energy Stocks Bullish, But Futures Market Signals Trouble Ahead (CVX)

Strong demand for oil from China and tight supplies are boosting energy stocks. However, the futures market forecasts a potential price decline in mid-2025.

August 13, 2023 | finance.yahoo.com

3 Unstoppable Warren Buffett Dividend Stocks That Have Room to Run

August 14, 2023 | Chaikin Analytics (Ad)

His system isolated NVIDIA - Here's His Next Buy.

Most investors don't know the truth about A.I. 50-year Wall Street Insider Marc Chaikin reveals what you should be doing to profit. Learn more here.

August 13, 2023 | americanbankingnews.com

HSBC Increases Chevron (NYSE:CVX) Price Target to $184.00

August 12, 2023 | finance.yahoo.com

Chevron Corporation (NYSE:CVX) Passed Our Checks, And It's About To Pay A US$1.51 Dividend