Chevron Corporation [CVX] is 25.75% higher this YTD. Is it still time to buy?


Chevron Corporation [NYSE: CVX] traded at a high on 06/27/22, posting a 1.93 gain after which it closed the day’ session at $147.57. The company report on June 21, 2022 that REPEAT — PowerTap Participates in California Hydrogen Leadership Summit.

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PowerTap Hydrogen Capital Corp (NEO: MOVE) (FWB: 2K6B) (OTC: MOTNF) (“PowerTap” or the “Company” or “MOVE”) is pleased to provide an update on its continued efforts in California and recent participation in the California Hydrogen Leadership Summit (CHLS) in Sacramento, California in early June 2022.

In early June 2022, the California Hydrogen Business Council held the CHLS with PowerTap Hydrogen Fueling Corp. sponsoring, participating and moderating an industry panel. Participation was strong with over 550 registrants, including representatives from the transportation, power and heavy industry sectors, utility companies, and vendors from across and beyond the hydrogen industry. A key audience for the summit was California policy makers and regulators and focused on exploring the policies, programs and incentives needed to accelerate production, use, and storage of hydrogen, essential to California’s ability to meet emissions goals and address climate protection, air quality, energy resilience and sustainable economic growth needs. With a primary intent of educating California policy makers and regulators on the accelerating the hydrogen industry in the state, significant takeaway from the summit was that collaboration between market participants will solidify the hydrogen industry toward complete decarbonization in California and state and federal incentives will enable winners with standout cost effective technology and business models to emerge and make significant strides to establishing the industry.

The results of the trading session contributed to over 9230470 shares changing hands. Over the past one week, the price volatility of Chevron Corporation stands at 3.58% while the volatility over the past one month is 2.99%.

The market cap for CVX stock reached $285.26 billion, with 1.94 billion shares outstanding and 1.91 billion shares in the current float. Compared to the average trading volume of 11.18M shares, CVX reached a trading volume of 9230470 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 $179.55 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 5.92, with the Price to Sales ratio for CVX stock in the period of the last 12 months amounting to 1.61. The Price to Book ratio for the last quarter was 1.95, with the Price to Cash per share for the same quarter was set at 6.05. Price to Free Cash Flow for CVX in the course of the last twelve months was 19.92 with Quick ratio for the last quarter at 1.20.

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 -0.55. With this latest performance, CVX shares dropped by -15.87% in over the last four-week period, additionally plugging by 26.77% over the last 6 months – not to mention a rise of 37.53% 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 35.05, with the RSI for the last a single of trading hit 32.83, and the three-weeks RSI is set at 38.13 for Chevron Corporation [CVX]. The present Moving Average for the last 50 days of trading for this stock 166.14, while it was recorded at 147.45 for the last single week of trading, and 137.25 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 +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.

Earnings analysis for Chevron Corporation [CVX]

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%.

Insider trade positions for Chevron Corporation [CVX]

There are presently around $200,810 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 $23.04 billion in CVX stocks shares; and STATE STREET CORP, currently with $19.96 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 1,410 institutional holders increased their position in Chevron Corporation [NYSE:CVX] by around 171,027,226 shares. Additionally, 1,457 investors decreased positions by around 78,662,564 shares, while 285 investors held positions by with 1,137,407,848 shares. The mentioned changes placed institutional holdings at 1,387,097,638 shares, according to the latest SEC report filing. CVX stock had 280 new institutional investments in for a total of 4,194,382 shares, while 100 institutional investors sold positions of 2,692,559 shares during the same period.