Chevron (NYSE:CVX) Shares Down 3% – Should You Sell?

20 May 2026, 17:17 by Renee Jackson · The Cerbat Gem

Chevron Corporation (NYSE:CVX – Get Free Report) fell 3% during mid-day trading on Wednesday . The company traded as low as $191.27 and last traded at $191.3920. 14,540,458 shares traded hands during mid-day trading, an increase of 18% from the average session volume of 12,284,290 shares. The stock had previously closed at $197.25.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

Positive Sentiment: West Texas Intermediate crude remains above $100, keeping Chevron and other Permian-focused producers in the spotlight as investors expect stronger upstream cash flow and continued efficiency gains. Oil Remains Above $100: Are Permian Stocks a Smart Bet Now?
Positive Sentiment: Barrons said Chevron stock can keep rising, arguing that higher oil prices and the company’s strong fundamentals leave room for additional upside. Oil Prices Are Rising and So Is Chevron Stock. It Can Keep Going.
Positive Sentiment: Analyst commentary highlighted Chevron as an attractive long-term energy name, with revised earnings estimates and bullish comparisons versus peers supporting sentiment. Earnings Estimates Rising for Chevron (CVX): Will It Gain?
Positive Sentiment: Several pieces pointed to Chevron as a favored income and blue-chip energy holding, suggesting investors continue to view the stock as a durable long-term portfolio name. Buy 5 Blue-Chip Stocks to Enhance Your Portfolio Returns in 2026
Neutral Sentiment: Multiple articles compared Chevron with ExxonMobil and Shell, reinforcing that CVX remains a key benchmark among integrated oil majors rather than introducing a new company-specific catalyst. Shell vs. Chevron: Which Integrated Oil Major Has the Upper Hand?
Neutral Sentiment: Chevron also saw unusual call buying, which can signal speculative optimism, but it does not by itself explain a major fundamental change. Warren Buffett’s Berkshire Hathaway Dumped 16 Stocks in Q1, But the Chevron Sale Was the Largest
Negative Sentiment: Berkshire Hathaway trimming its Chevron stake remains a modest overhang, even though the position is still substantial and the move does not appear to signal a full exit. Berkshire Hathaway Trims Stake in Chevron (CVX)

Analysts Set New Price Targets

A number of research firms have recently issued reports on CVX. Morgan Stanley lifted their price objective on shares of Chevron from $174.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, March 27th. Sanford C. Bernstein lowered their price objective on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a report on Monday, May 11th. Citigroup lifted their price objective on shares of Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Tudor Pickering upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 price objective on the stock in a report on Thursday, April 9th. Finally, Wells Fargo & Company lifted their price objective on shares of Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $204.13.

Check Out Our Latest Stock Report on Chevron

Chevron Stock Performance

The firm has a market capitalization of $381.18 billion, a price-to-earnings ratio of 33.17, a P/E/G ratio of 0.66 and a beta of 0.51. The stock’s fifty day moving average is $193.41 and its two-hundred day moving average is $173.98. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX – Get Free Report) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.18 earnings per share. On average, analysts predict that Chevron Corporation will post 15.43 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Tuesday, May 19th. Chevron’s payout ratio is presently 123.40%.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 272,624 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $189.35, for a total transaction of $51,621,354.40. Following the transaction, the chief executive officer directly owned 31,266 shares in the company, valued at approximately $5,920,217.10. The trade was a 89.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the transaction, the insider owned 11,337 shares in the company, valued at approximately $2,130,449.04. The trade was a 92.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 799,699 shares of company stock valued at $151,259,517 in the last 90 days. Company insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Chevron

Several institutional investors and hedge funds have recently modified their holdings of CVX. Vanguard Group Inc. increased its holdings in shares of Chevron by 17.9% in the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock valued at $28,540,753,000 after purchasing an additional 27,961,463 shares during the last quarter. Norges Bank acquired a new position in shares of Chevron in the fourth quarter valued at $3,727,586,000. State Street Corp increased its holdings in shares of Chevron by 9.1% in the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after purchasing an additional 12,789,399 shares during the last quarter. Berkshire Hathaway Inc increased its holdings in shares of Chevron by 6.6% in the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock valued at $19,837,131,000 after purchasing an additional 8,091,570 shares during the last quarter. Finally, Primecap Management Co. CA bought a new stake in shares of Chevron in the third quarter valued at about $988,083,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

About Chevron

(Get Free Report)

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.