Societe Generale slashes price target on Chevron Corporation [CVX] – find out why.


Chevron Corporation [NYSE: CVX] loss -4.60% or -8.07 points to close at $167.33 with a heavy trading volume of 14597464 shares. The company report on June 13, 2022 that National Vision Holdings Set to Join S&P SmallCap 600.

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National Vision Holdings Inc. (NASD: EYE) will replace Renewable Energy Group Inc. (NASD: REGI) in the S&P SmallCap 600 effective prior to the opening of trading on Thursday, June 16. S&P 500 constituent Chevron Corp. (NYSE: CVX) acquired Renewable Energy Group in a deal that closed today, June 13.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:.

It opened the trading session at $171.61, the shares rose to $172.00 and dropped to $164.06, the range by which the price of stock traded the whole day. The daily chart for CVX points out that the company has recorded 41.40% gains over the past six months. However, it is still -80.2% lower than its most recent low trading price.

If we look at the average trading volume of 11.68M shares, CVX reached to a volume of 14597464 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 $180.54 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.

Societe Generale have made an estimate for Chevron Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on May 20, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price from $160 to $165. The new note on the price target was released on April 21, 2022, representing the official price target for Chevron Corporation stock. Previously, the target price had yet another raise to $166, while Morgan Stanley analysts kept a Equal-Weight rating on CVX stock.

The Average True Range (ATR) for Chevron Corporation is set at 5.08, with the Price to Sales ratio for CVX stock in the period of the last 12 months amounting to 1.88. The Price to Book ratio for the last quarter was 2.22, with the Price to Cash per share for the same quarter was set at 5.89. Price to Free Cash Flow for CVX in the course of the last twelve months was 23.24 with Quick ratio for the last quarter at 1.20.

Trading performance analysis for CVX stock

Chevron Corporation [CVX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.37. With this latest performance, CVX shares gained by 1.59% in over the last four-week period, additionally plugging by 41.40% over the last 6 months – not to mention a rise of 54.98% 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 42.99, with the RSI for the last a single of trading hit 35.17, and the three-weeks RSI is set at 47.18 for Chevron Corporation [CVX]. The present Moving Average for the last 50 days of trading for this stock 168.68, while it was recorded at 176.32 for the last single week of trading, and 134.76 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 +10.66 and a Gross Margin at +18.04. Chevron Corporation’s Net Margin is presently recorded at +10.00.

Return on Equity for this stock inclined to 11.54, with Return on Assets sitting at 6.52.

Chevron Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.40.

Chevron Corporation [CVX]: An earnings per share (EPS) analysis

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 24.14%.

An analysis of insider ownership at Chevron Corporation [CVX]

There are presently around $243,298 million, or 71.60% of CVX stock, in the hands of institutional investors. The top three institutional holders of CVX stocks are: VANGUARD GROUP INC with ownership of 167,767,288, which is approximately 2.673% of the company’s market cap and around 0.07% of the total institutional ownership; BERKSHIRE HATHAWAY INC, holding 159,178,117 shares of the stock with an approximate value of $27.92 billion in CVX stocks shares; and STATE STREET CORP, currently with $24.19 billion in CVX stock with ownership of nearly -0.718% of the company’s market capitalization.

Positions in Chevron Corporation stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 1,411 institutional holders increased their position in Chevron Corporation [NYSE:CVX] by around 171,024,254 shares. Additionally, 1,457 investors decreased positions by around 78,663,879 shares, while 285 investors held positions by with 1,137,414,210 shares. The mentioned changes placed institutional holdings at 1,387,102,343 shares, according to the latest SEC report filing. CVX stock had 279 new institutional investments in for a total of 4,190,974 shares, while 100 institutional investors sold positions of 2,693,874 shares during the same period.