Chevron Corporation [CVX] Stock trading around $175.18 per share: What’s Next?

Chevron Corporation [NYSE: CVX] plunged by -$1.38 during the normal trading session on Monday and reaching a high of $178.33 during the day while it closed the day at $175.18. The company report on January 9, 2023 that Raven SR, Chevron and Hyzon Motors Collaborate to Produce Hydrogen from Green Waste in Northern California.

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Hydrogen to be produced from green waste and food waste with non-combustion reforming process.

Richmond, Calif., production facility to serve local hydrogen transportation fuel market, replacing conventional fuels.

Chevron Corporation stock has also loss -2.40% of its value over the past 7 days. However, CVX stock has inclined by 9.47% in the 3 months of the year. Over the past six months meanwhile, it has gained 23.79% and lost -2.40% year-on date.

The market cap for CVX stock reached $336.20 billion, with 1.93 billion shares outstanding and 1.93 billion shares in the current float. Compared to the average trading volume of 7.75M shares, CVX reached a trading volume of 8376466 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $192.44 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.

BofA Securities have made an estimate for Chevron Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 06, 2023. The new note on the price target was released on December 14, 2022, representing the official price target for Chevron Corporation stock. Previously, the target price had yet another raise to $177, while HSBC Securities analysts kept a Hold rating on CVX stock.

The Average True Range (ATR) for Chevron Corporation is set at 4.29, with the Price to Sales ratio for CVX stock in the period of the last 12 months amounting to 1.48. The Price to Book ratio for the last quarter was 2.13, with the Price to Cash per share for the same quarter was set at 8.04. Price to Free Cash Flow for CVX in the course of the last twelve months was 13.45 with Quick ratio for the last quarter at 1.20.

CVX stock trade performance evaluation

Chevron Corporation [CVX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.40. With this latest performance, CVX shares gained by 1.54% in over the last four-week period, additionally plugging by 23.79% over the last 6 months – not to mention a rise of 42.12% 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 49.50, with the RSI for the last a single of trading hit 49.47, and the three-weeks RSI is set at 50.04 for Chevron Corporation [CVX]. The present Moving Average for the last 50 days of trading for this stock 178.42, while it was recorded at 174.62 for the last single week of trading, and 164.35 for the last 200 days.

Chevron Corporation [CVX]: An insightful look at the core 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 per share (EPS) analysis for Chevron Corporation [CVX] stock

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 14.68%.

Chevron Corporation [CVX]: Insider Ownership positions

There are presently around $236,913 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 $27.91 billion in CVX stocks shares; and BLACKROCK INC., currently with $22.76 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 January and at the time of the January reporting period, where 1,581 institutional holders increased their position in Chevron Corporation [NYSE:CVX] by around 46,601,189 shares. Additionally, 1,236 investors decreased positions by around 56,780,296 shares, while 320 investors held positions by with 1,249,013,653 shares. The mentioned changes placed institutional holdings at 1,352,395,138 shares, according to the latest SEC report filing. CVX stock had 116 new institutional investments in for a total of 4,047,636 shares, while 87 institutional investors sold positions of 2,577,759 shares during the same period.


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