Market Analysts see Chevron Corporation [CVX] gaining to $98. Time to buy?

Chevron Corporation [NYSE: CVX] gained 2.05% or 2.05 points to close at $102.05 with a heavy trading volume of 10432806 shares. The company report on March 1, 2021 that Chevron Invests in Geothermal Development Company.

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Chevron Corporation (NYSE: CVX) announced an investment in Baseload Capital AB, a Sweden-based private investment company focused on development and operation of low-temperature geothermal and heat power assets.

Heat power is an affordable form of renewable energy that can be harnessed from either geothermal resources or waste heat. This investment round includes existing Baseload Capital investors Breakthrough Energy Ventures and Sweden-based investment group Gullspang Invest AB.

It opened the trading session at $102.46, the shares rose to $103.80 and dropped to $101.40, the range by which the price of stock traded the whole day. The daily chart for CVX points out that the company has recorded 20.19% gains over the past six months. However, it is still -97.77% lower than its most recent low trading price.

If we look at the average trading volume of 10.40M shares, CVX reached to a volume of 10432806 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 $105.27 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 2.91, with the Price to Sales ratio for CVX stock in the period of the last 12 months amounting to 2.13. The Price to Book ratio for the last quarter was 1.48, with the Price to Cash per share for the same quarter was set at 2.86.

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 3.72. With this latest performance, CVX shares gained by 14.64% in over the last four-week period, additionally plugging by 20.19% over the last 6 months – not to mention a rise of 9.33% 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 67.90, with the RSI for the last a single of trading hit 70.15, and the three-weeks RSI is set at 65.31 for Chevron Corporation [CVX]. The present Moving Average for the last 50 days of trading for this stock 91.11, while it was recorded at 101.47 for the last single week of trading, and 86.15 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 -4.47 and a Gross Margin at +5.69. Chevron Corporation’s Net Margin is presently recorded at -5.87.

Return on Total Capital for CVX is now -2.36, given the latest momentum, and Return on Invested Capital for the company is -3.19. 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 36.62. Additionally, CVX Total Debt to Total Capital is recorded at 26.80, with Total Debt to Total Assets ending up at 20.11. Long-Term Debt to Equity for the company is recorded at 34.46, with the Long-Term Debt to Total Capital now at 25.22.

Reflecting on the efficiency of the workforce at the company, Chevron Corporation [CVX] managed to generate an average of -$116,118 per employee. Receivables Turnover for the company is 7.61 with a Total Asset Turnover recorded at a value of 0.40.Chevron Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.20.

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 $128,290 million, or 67.50% 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 $13.05 billion in CVX stocks shares; and BLACKROCK INC., currently with $12.94 billion in CVX stock with ownership of nearly -5.162% of the company’s market capitalization.

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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 1,123 institutional holders increased their position in Chevron Corporation [NYSE:CVX] by around 74,529,882 shares. Additionally, 1,338 investors decreased positions by around 81,490,476 shares, while 160 investors held positions by with 1,101,110,433 shares. The mentioned changes placed institutional holdings at 1,257,130,791 shares, according to the latest SEC report filing. CVX stock had 272 new institutional investments in for a total of 4,677,386 shares, while 149 institutional investors sold positions of 16,316,180 shares during the same period.

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