HSBC Securities slashes price target on Chevron Corporation [CVX] – find out why.

Chevron Corporation [NYSE: CVX] jumped around 0.09 points on Monday, while shares priced at $186.55 at the close of the session, up 0.05%. The company report on November 10, 2022 that Pertamina, Keppel Infrastructure, and Chevron Sign Agreement to Explore Development of Green Hydrogen and Ammonia Projects in Indonesia.

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Pertamina Power Indonesia (Pertamina NRE), Keppel Infrastructure, through Keppel New Energy Pte. Ltd., and Chevron Corporation (NYSE: CVX), through Chevron New Energies International Pte. Ltd. (Chevron New Energies), have signed a Joint Study Agreement (JSA) to explore the development of selected green hydrogen and green ammonia projects using renewable energy located primarily in Sumatera, Indonesia.

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Chevron Corporation stock is now 58.97% up from its year-to-date (YTD) trading value. CVX Stock saw the intraday high of $189.68 and lowest of $186.18 per share. The company’s 52-week high price is 187.10, which means current price is +59.05% above from all time high which was touched on 11/14/22.

Compared to the average trading volume of 9.07M shares, CVX reached a trading volume of 9712991 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 $188.78 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.

HSBC Securities have made an estimate for Chevron Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on October 24, 2022. While these analysts kept the previous recommendation, Jefferies raised their target price to Hold. The new note on the price target was released on October 19, 2022, representing the official price target for Chevron Corporation stock. Previously, the target price had yet another raise to $202, while Credit Suisse analysts kept a Outperform rating on CVX stock.

The Average True Range (ATR) for Chevron Corporation is set at 4.82, with the Price to Sales ratio for CVX stock in the period of the last 12 months amounting to 1.54. The Price to Book ratio for the last quarter was 2.27, with the Price to Cash per share for the same quarter was set at 8.21. Price to Free Cash Flow for CVX in the course of the last twelve months was 14.03 with Quick ratio for the last quarter at 1.20.

How has CVX stock performed recently?

Chevron Corporation [CVX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.51. With this latest performance, CVX shares gained by 16.49% in over the last four-week period, additionally plugging by 7.83% over the last 6 months – not to mention a rise of 63.31% 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 66.95, with the RSI for the last a single of trading hit 67.30, and the three-weeks RSI is set at 65.39 for Chevron Corporation [CVX]. The present Moving Average for the last 50 days of trading for this stock 164.55, while it was recorded at 183.52 for the last single week of trading, and 158.97 for the last 200 days.

Chevron Corporation [CVX]: Deeper insight into the fundamentals

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 14.67%.

Insider trade positions for Chevron Corporation [CVX]

There are presently around $258,463 million, or 72.50% of CVX stock, in the hands of institutional investors. The top three institutional holders of CVX stocks are: BERKSHIRE HATHAWAY INC with ownership of 165,359,318, which is approximately 2.428% of the company’s market cap and around 0.08% of the total institutional ownership; VANGUARD GROUP INC, holding 159,334,955 shares of the stock with an approximate value of $29.72 billion in CVX stocks shares; and STATE STREET CORP, currently with $25.6 billion in CVX stock with ownership of nearly -0.495% of the company’s market capitalization.

1,589 institutional holders increased their position in Chevron Corporation [NYSE:CVX] by around 47,320,728 shares. Additionally, 1,250 investors decreased positions by around 49,821,811 shares, while 321 investors held positions by with 1,288,344,550 shares. The mentioned changes placed institutional holdings at 1,385,487,089 shares, according to the latest SEC report filing. CVX stock had 122 new institutional investments in for a total of 4,350,009 shares, while 94 institutional investors sold positions of 2,589,890 shares during the same period.


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