Chevron Corporation [NYSE: CVX] gained 1.58% on the last trading session, reaching $162.50 price per share at the time. The company report on September 8, 2022 that Chevron Granted Interest in Three Permits to Assess Carbon Storage Offshore Australia.
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Chevron Corporation (NYSE: CVX), through its affiliate Chevron Australia Pty Ltd, is part of three joint ventures that have been granted an interest in three greenhouse gas assessment permits offshore Australia.
The blocks, including two in the Carnarvon Basin off the north-western coast of Western Australia and one in the Bonaparte Basin offshore Northern Territory, total more than 31,500 km2 or nearly 7.8 million acres – an area larger than Belgium.
Chevron Corporation represents 1.96 billion in outstanding shares, while the company has a total market value of $310.09 billion with the latest information. CVX stock price has been found in the range of $161.25 to $164.53.
If compared to the average trading volume of 9.58M shares, CVX reached a trading volume of 8904433 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 $181.48 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.
Credit Suisse have made an estimate for Chevron Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 11, 2022. The new note on the price target was released on August 04, 2022, representing the official price target for Chevron Corporation stock. Previously, the target price had yet another drop from $183 to $167, while HSBC Securities kept a Buy rating on CVX stock.
The Average True Range (ATR) for Chevron Corporation is set at 4.09, with the Price to Sales ratio for CVX stock in the period of the last 12 months amounting to 1.50. The Price to Book ratio for the last quarter was 2.06, with the Price to Cash per share for the same quarter was set at 6.48. Price to Free Cash Flow for CVX in the course of the last twelve months was 15.85 with Quick ratio for the last quarter at 1.10.
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 2.95. With this latest performance, CVX shares gained by 1.80% in over the last four-week period, additionally sinking by -4.92% over the last 6 months – not to mention a rise of 69.15% 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 58.21, with the RSI for the last a single of trading hit 61.06, and the three-weeks RSI is set at 56.22 for Chevron Corporation [CVX]. The present Moving Average for the last 50 days of trading for this stock 152.74, while it was recorded at 158.13 for the last single week of trading, and 148.98 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 1.10 and a Current Ratio set at 1.30.
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 13.60%.
An analysis of insider ownership at Chevron Corporation [CVX]
There are presently around $226,149 million, or 71.70% of CVX stock, in the hands of institutional investors. The top three institutional holders of CVX stocks are: VANGUARD GROUP INC with ownership of 163,915,625, which is approximately -2.296% of the company’s market cap and around 0.07% of the total institutional ownership; BERKSHIRE HATHAWAY INC, holding 161,440,149 shares of the stock with an approximate value of $26.23 billion in CVX stocks shares; and STATE STREET CORP, currently with $22.3 billion in CVX stock with ownership of nearly -0.495% of the company’s market capitalization.
1,459 institutional holders increased their position in Chevron Corporation [NYSE:CVX] by around 68,149,536 shares. Additionally, 1,419 investors decreased positions by around 54,355,341 shares, while 324 investors held positions by with 1,269,178,508 shares. The mentioned changes placed institutional holdings at 1,391,683,385 shares, according to the latest SEC report filing. CVX stock had 168 new institutional investments in for a total of 5,667,506 shares, while 134 institutional investors sold positions of 2,722,839 shares during the same period.