Chevron Corporation [CVX] Stock trading around $181.24 per share: What’s Next?

Chevron Corporation [NYSE: CVX] loss -0.96% or -1.75 points to close at $181.24 with a heavy trading volume of 8429595 shares. The company report on November 17, 2022 that Chevron to Acquire Full Ownership of Beyond6 CNG Fueling Network.


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Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE: CVX), announced today it signed a definitive agreement to acquire full ownership of Beyond6, LLC (B6) and its network of 55 compressed natural gas (CNG) stations across the United States from Chevron’s current B6 co-owners, a subsidiary of Mercuria Energy Trading (Mercuria) and B6 CEO Andrew West.

Chevron is complementing the strength of its traditional products business with new offerings that help customers support a lower carbon future, and renewable natural gas is an essential part of its portfolio of solutions. Through collaborations with Brightmark LLC and California Bioenergy LLC, Chevron is developing projects across the United States designed to convert fugitive methane emissions from dairies to a beneficial use as renewable natural gas, which can be considered carbon negative on a lifecycle basis under California’s Low Carbon Fuel Standard. With this acquisition, Chevron can market the RNG it either produces or procures through a nationwide network of CNG locations.

It opened the trading session at $179.73, the shares rose to $181.70 and dropped to $175.82, the range by which the price of stock traded the whole day. The daily chart for CVX points out that the company has recorded 5.54% gains over the past six months. However, it is still -63.68% lower than its most recent low trading price.

If we look at the average trading volume of 9.12M shares, CVX reached to a volume of 8429595 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 $191.00 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 2.40. 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 4.86, with the Price to Sales ratio for CVX stock in the period of the last 12 months amounting to 1.55. The Price to Book ratio for the last quarter was 2.21, with the Price to Cash per share for the same quarter was set at 7.93. Price to Free Cash Flow for CVX in the course of the last twelve months was 14.11 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 -2.85. With this latest performance, CVX shares gained by 4.65% in over the last four-week period, additionally plugging by 5.54% over the last 6 months – not to mention a rise of 61.95% 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 55.73, with the RSI for the last a single of trading hit 49.92, and the three-weeks RSI is set at 57.75 for Chevron Corporation [CVX]. The present Moving Average for the last 50 days of trading for this stock 167.17, while it was recorded at 184.27 for the last single week of trading, and 160.22 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 14.67%.

An analysis of insider ownership at Chevron Corporation [CVX]

There are presently around $250,034 million, or 72.00% 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 $28.88 billion in CVX stocks shares; and BLACKROCK INC., currently with $23.55 billion in CVX stock with ownership of nearly -4.988% of the company’s market capitalization.

Positions in Chevron Corporation stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 1,600 institutional holders increased their position in Chevron Corporation [NYSE:CVX] by around 48,656,788 shares. Additionally, 1,237 investors decreased positions by around 56,727,837 shares, while 323 investors held positions by with 1,274,192,087 shares. The mentioned changes placed institutional holdings at 1,379,576,712 shares, according to the latest SEC report filing. CVX stock had 119 new institutional investments in for a total of 4,201,946 shares, while 88 institutional investors sold positions of 2,570,868 shares during the same period.

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