Chevron Corporation [NYSE: CVX] gained 1.26% on the last trading session, reaching $99.63 price per share at the time. The company report on February 5, 2021 that Chevron Announces Offer to Acquire Noble Midstream Partners LP.
Chevron Corporation (NYSE: CVX) announced that it has submitted a non-binding proposal to the Board of Directors of Noble Midstream GP LLC, the general partner of Noble Midstream Partners LP (NASDAQ: NBLX), to acquire all of the publicly held common units representing limited partner interests in NBLX not already owned by Chevron and its affiliates (the “Common Units”). Chevron is proposing to acquire the Common Units through a merger transaction in exchange for shares of common stock of Chevron, at a value of $12.47 per Common Unit (based on the most recent closing price of NBLX Common Units as of February 4, 2021). Chevron expects the proposed transaction to align long term interests by efficiently combining two highly integrated businesses while streamlining governance of the NBLX assets, which primarily serve Chevron as its largest customer. Agreement of definitive terms is subject to negotiations and approval by the Board of Directors of NBLX. There can be no assurance that any such approvals will be forthcoming, that a definitive agreement will be executed, or that any transaction will be consummated.
Chevron Corporation represents 1.85 billion in outstanding shares, while the company has a total market value of $190.19 billion with the latest information. CVX stock price has been found in the range of $96.80 to $100.16.
If compared to the average trading volume of 10.28M shares, CVX reached a trading volume of 14866126 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $103.77 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.
Jefferies have made an estimate for Chevron Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 21, 2021. While these analysts kept the previous recommendation, Scotiabank dropped their target price from $95 to $110. The new note on the price target was released on January 14, 2021, representing the official price target for Chevron Corporation stock. Previously, the target price had yet another raise from $103 to $105, while HSBC Securities kept a Buy rating on CVX stock.
The Average True Range (ATR) for Chevron Corporation is set at 2.52, with the Price to Sales ratio for CVX stock in the period of the last 12 months amounting to 2.02. The Price to Book ratio for the last quarter was 1.40, with the Price to Cash per share for the same quarter was set at 3.61.
Trading performance analysis for CVX stock
Chevron Corporation [CVX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.98. With this latest performance, CVX shares gained by 8.61% in over the last four-week period, additionally plugging by 17.10% over the last 6 months – not to mention a drop of -4.85% 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 71.08, with the RSI for the last a single of trading hit 78.43, and the three-weeks RSI is set at 66.31 for Chevron Corporation [CVX]. The present Moving Average for the last 50 days of trading for this stock 90.25, while it was recorded at 96.95 for the last single week of trading, and 85.95 for the last 200 days.
Chevron Corporation [CVX]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Chevron Corporation [CVX] shares currently have an operating margin of -7.39 and a Gross Margin at -2.62. Chevron Corporation’s Net Margin is presently recorded at -5.87.
Return on Total Capital for CVX is now -3.97, given the latest momentum, and Return on Invested Capital for the company is -3.20. Return on Equity for this stock declined to -4.02, with Return on Assets sitting at -2.32. When it comes to the capital structure of this company, Chevron Corporation [CVX] has a Total Debt to Total Equity ratio set at 33.65. Additionally, CVX Total Debt to Total Capital is recorded at 25.18, with Total Debt to Total Assets ending up at 18.48. Long-Term Debt to Equity for the company is recorded at 33.65, with the Long-Term Debt to Total Capital now at 25.18.
Chevron Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.30.
Chevron Corporation [CVX]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Chevron Corporation posted 1.29/share EPS, while the average EPS was predicted by analysts to be reported at 0.68/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 89.70%. 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 -4.18%.
An analysis of insider ownership at Chevron Corporation [CVX]
There are presently around $125,234 million, or 65.10% of CVX stock, in the hands of institutional investors. The top three institutional holders of CVX stocks are: VANGUARD GROUP INC with ownership of 157,790,935, which is approximately -3.655% of the company’s market cap and around 0.04% of the total institutional ownership; STATE STREET CORP, holding 127,915,455 shares of the stock with an approximate value of $12.74 billion in CVX stocks shares; and BLACKROCK INC., currently with $12.64 billion in CVX stock with ownership of nearly -5.162% of the company’s market capitalization.
Positions in Chevron Corporation stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 1,119 institutional holders increased their position in Chevron Corporation [NYSE:CVX] by around 74,477,572 shares. Additionally, 1,335 investors decreased positions by around 81,094,601 shares, while 161 investors held positions by with 1,101,419,614 shares. The mentioned changes placed institutional holdings at 1,256,991,787 shares, according to the latest SEC report filing. CVX stock had 267 new institutional investments in for a total of 4,639,566 shares, while 150 institutional investors sold positions of 16,318,748 shares during the same period.