Chevron Corporation [CVX] is 39.63% higher this YTD. Is it still time to buy?

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Chevron Corporation [NYSE: CVX] gained 1.48% or 1.72 points to close at $117.92 with a heavy trading volume of 11367619 shares. The company report on December 6, 2021 that CABGOC Secures Renewal of Block 0 Concession in Angola through 2050.

Chevron’s affiliate in Angola, Cabinda Gulf Oil Company Limited (CABGOC) announced the successful extension of the Block 0 concession, off the coast of Cabinda province, in Angola. The agreement extends the concession for 20 years, through 2050. Under the renewed agreement, CABGOC will remain the operator with a 39.2 percent interest on behalf of its partners “Sociedade Nacional De Combustiveis De Angola – Empresa Pública (“Sonangol EP”) with a 41 percent interest, TotalEnergies EP Petroleum Angola (“Total”) with a 10 percent interest, and Eni Angola Production B.V. (“Eni”) with a 9.8 percent interest.


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“We are pleased with the opportunity to continue to partner with the government of Angola and our Block 0 associates to apply our industry-leading exploration and production capabilities in Angola, where we have had a presence for more than 60 years,” said Billy Lacobie, managing director of Chevron’s Southern Africa Strategic Business Unit. “We are proud to have played a significant role in the development of the country’s oil and gas industry, and we look forward to continuing to help provide reliable, affordable, ever-cleaner energy that enables human progress and powers Angola forward.”.

It opened the trading session at $117.235, the shares rose to $118.66 and dropped to $117.235, the range by which the price of stock traded the whole day. The daily chart for CVX points out that the company has recorded 9.41% gains over the past six months. However, it is still -41.17% lower than its most recent low trading price.

If we look at the average trading volume of 10.93M shares, CVX reached to a volume of 11367619 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 $128.99 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.

Tudor Pickering Holt & Co. have made an estimate for Chevron Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 30, 2021. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price from $130 to $145. The new note on the price target was released on November 24, 2021, representing the official price target for Chevron Corporation stock. Previously, the target price had yet another raise to $125, while UBS analysts kept a Buy rating on CVX stock.

The Average True Range (ATR) for Chevron Corporation is set at 2.59, with the Price to Sales ratio for CVX stock in the period of the last 12 months amounting to 1.70. The Price to Book ratio for the last quarter was 1.66, with the Price to Cash per share for the same quarter was set at 3.11. Price to Free Cash Flow for CVX in the course of the last twelve months was 52.31 with Quick ratio for the last quarter at 1.00.

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 4.47. With this latest performance, CVX shares gained by 2.77% in over the last four-week period, additionally plugging by 9.41% over the last 6 months – not to mention a rise of 29.93% 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 60.57, with the RSI for the last a single of trading hit 62.58, and the three-weeks RSI is set at 60.09 for Chevron Corporation [CVX]. The present Moving Average for the last 50 days of trading for this stock 111.87, while it was recorded at 115.15 for the last single week of trading, and 105.36 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 -3.56 and a Gross Margin at +6.42. Chevron Corporation’s Net Margin is presently recorded at -5.87.

Return on Total Capital for CVX is now -1.88, 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 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 -0.01/share EPS, while the average EPS was predicted by analysts to be reported at 0.07/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -114.30%. 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 -4.90%.

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An analysis of insider ownership at Chevron Corporation [CVX]

There are presently around $151,865 million, or 67.40% of CVX stock, in the hands of institutional investors. The top three institutional holders of CVX stocks are: VANGUARD GROUP INC with ownership of 161,747,748, which is approximately 0.152% of the company’s market cap and around 0.04% of the total institutional ownership; STATE STREET CORP, holding 140,231,778 shares of the stock with an approximate value of $16.54 billion in CVX stocks shares; and BLACKROCK INC., currently with $15.17 billion in CVX stock with ownership of nearly -5.631% of the company’s market capitalization.

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 1,333 institutional holders increased their position in Chevron Corporation [NYSE:CVX] by around 45,011,012 shares. Additionally, 1,077 investors decreased positions by around 58,433,730 shares, while 276 investors held positions by with 1,184,421,484 shares. The mentioned changes placed institutional holdings at 1,287,866,226 shares, according to the latest SEC report filing. CVX stock had 123 new institutional investments in for a total of 5,551,502 shares, while 108 institutional investors sold positions of 6,104,968 shares during the same period.