why Chevron Corporation [CVX] is a Good Choice for Investors After New Price Target of $100.40

Chevron Corporation [NYSE: CVX] slipped around -0.07 points on Tuesday, while shares priced at $89.37 at the close of the session, down -0.08%. The company report on December 3, 2020 that Chevron Announces $14 Billion Capital and Exploratory Budget for 2021.

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Demonstrates continued capital discipline.

Lowers 2022 to 2025 annual capital guidance to $14-$16 billion.

Chevron Corporation stock is now -25.84% down from its year-to-date (YTD) trading value. CVX Stock saw the intraday high of $90.48 and lowest of $88.77 per share. The company’s 52-week high price is 122.72, which means current price is +73.20% above from all time high which was touched on 01/03/20.

Compared to the average trading volume of 11.66M shares, CVX reached a trading volume of 11575718 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Chevron Corporation [CVX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CVX shares is $100.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CVX stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for Chevron Corporation shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on December 15, 2020. While these analysts kept the previous recommendation, Cowen raised their target price from $88 to $95. The new note on the price target was released on December 09, 2020, representing the official price target for Chevron Corporation stock.

The Average True Range (ATR) for Chevron Corporation is set at 3.48, with the Price to Sales ratio for CVX stock in the period of the last 12 months amounting to 1.67. The Price to Book ratio for the last quarter was 1.26, with the Price to Cash per share for the same quarter was set at 3.55.

How has CVX stock performed recently?

Chevron Corporation [CVX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.37. With this latest performance, CVX shares gained by 7.64% in over the last four-week period, additionally sinking by -2.37% over the last 6 months – not to mention a drop of -25.13% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CVX stock in for the last two-week period is set at 54.36, with the RSI for the last a single of trading hit 50.27, and the three-weeks RSI is set at 55.69 for Chevron Corporation [CVX]. The present Moving Average for the last 50 days of trading for this stock 80.45, while it was recorded at 91.01 for the last single week of trading, and 83.75 for the last 200 days.

Chevron Corporation [CVX]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Chevron Corporation [CVX] shares currently have an operating margin of +7.70 and a Gross Margin at +13.90. Chevron Corporation’s Net Margin is presently recorded at +2.09.

Return on Total Capital for CVX is now 5.89, given the latest momentum, and Return on Invested Capital for the company is 1.65. Return on Equity for this stock inclined to 1.96, with Return on Assets sitting at 1.19. When it comes to the capital structure of this company, Chevron Corporation [CVX] has a Total Debt to Total Equity ratio set at 21.40. Additionally, CVX Total Debt to Total Capital is recorded at 17.63, with Total Debt to Total Assets ending up at 13.00. Long-Term Debt to Equity for the company is recorded at 18.24, with the Long-Term Debt to Total Capital now at 15.02.

Reflecting on the efficiency of the workforce at the company, Chevron Corporation [CVX] managed to generate an average of $60,664 per employee. Receivables Turnover for the company is 9.88 with a Total Asset Turnover recorded at a value of 0.57.Chevron Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.30.

Earnings analysis for Chevron Corporation [CVX]

With the latest financial reports released by the company, Chevron Corporation posted 1.49/share EPS, while the average EPS was predicted by analysts to be reported at 1.45/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CVX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Chevron Corporation go to -2.92%.

Insider trade positions for Chevron Corporation [CVX]

There are presently around $111,010 million, or 63.00% of CVX stock, in the hands of institutional investors. The top three institutional holders of CVX stocks are: VANGUARD GROUP INC with ownership of 163,777,349, which is approximately -2.656% of the company’s market cap and around 0.04% of the total institutional ownership; BLACKROCK INC., holding 133,725,671 shares of the stock with an approximate value of $11.95 billion in CVX stocks shares; and STATE STREET CORP, currently with $10.89 billion in CVX stock with ownership of nearly -1.326% of the company’s market capitalization.

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Positions in Chevron Corporation stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 986 institutional holders increased their position in Chevron Corporation [NYSE:CVX] by around 53,784,417 shares. Additionally, 1,359 investors decreased positions by around 84,064,534 shares, while 199 investors held positions by with 1,104,286,100 shares. The mentioned changes placed institutional holdings at 1,242,135,051 shares, according to the latest SEC report filing. CVX stock had 119 new institutional investments in for a total of 8,694,254 shares, while 186 institutional investors sold positions of 5,073,553 shares during the same period.

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