Chevron Corporation [CVX] Is Currently -0.15 below its 200 Period Moving Avg: What Does This Mean?

Chevron Corporation [NYSE: CVX] slipped around -0.23 points on Monday, while shares priced at $153.41 at the close of the session, down -0.15%. The company report on August 3, 2022 that Brightmark, Chevron Announce First Gas at Athena Project.

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Brightmark, Chevron achieve first delivery of renewable natural gas produced at the Athena Project, part of their previously announced partnership to own project companies across the U.S. to produce and market RNG.

Brightmark RNG Holdings LLC – a joint venture partnership between Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE: CVX), and Brightmark Fund Holdings LLC, a subsidiary of Brightmark LLC, the global waste solutions provider – delivered first gas at its Athena Project in Minnehaha County, South Dakota. The project is comprised of three farms located in Minnehaha County: Boadwine Farms, Pioneer Dairy, and Mooody Dairy. The project is part of the previously announced partnership to own project companies across the United States to produce and market dairy biomethane, a renewable natural gas (RNG).

Chevron Corporation stock is now 30.73% up from its year-to-date (YTD) trading value. CVX Stock saw the intraday high of $154.98 and lowest of $153.1524 per share. The company’s 52-week high price is 182.40, which means current price is +30.80% above from all time high which was touched on 06/08/22.

Compared to the average trading volume of 10.52M shares, CVX reached a trading volume of 5963083 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 $178.18 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 Buy, with their previous recommendation back on August 04, 2022. While these analysts kept the previous recommendation, HSBC Securities dropped their target price from $183 to $167. The new note on the price target was released on July 20, 2022, representing the official price target for Chevron Corporation stock. On April 21, 2022, analysts increased their price target for CVX shares from 160 to 165.

The Average True Range (ATR) for Chevron Corporation is set at 4.81, with the Price to Sales ratio for CVX stock in the period of the last 12 months amounting to 1.44. 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 6.40. Price to Free Cash Flow for CVX in the course of the last twelve months was 15.15 with Quick ratio for the last quarter at 1.10.

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 -4.42. With this latest performance, CVX shares gained by 7.45% in over the last four-week period, additionally plugging by 12.90% over the last 6 months – not to mention a rise of 50.48% 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 52.76, with the RSI for the last a single of trading hit 53.84, and the three-weeks RSI is set at 51.04 for Chevron Corporation [CVX]. The present Moving Average for the last 50 days of trading for this stock 155.07, while it was recorded at 154.54 for the last single week of trading, and 143.61 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 1.10 and a Current Ratio set at 1.30.

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 23.20%.

Insider trade positions for Chevron Corporation [CVX]

There are presently around $212,536 million, or 71.80% 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 $24.42 billion in CVX stocks shares; and STATE STREET CORP, currently with $21.16 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 July and at the time of the July reporting period, where 1,380 institutional holders increased their position in Chevron Corporation [NYSE:CVX] by around 172,061,733 shares. Additionally, 1,444 investors decreased positions by around 75,791,684 shares, while 325 investors held positions by with 1,137,555,346 shares. The mentioned changes placed institutional holdings at 1,385,408,763 shares, according to the latest SEC report filing. CVX stock had 161 new institutional investments in for a total of 4,563,693 shares, while 128 institutional investors sold positions of 2,922,294 shares during the same period.


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