Market Analysts see Chevron Corporation [CVX] gaining to $200. Time to buy?

Chevron Corporation [NYSE: CVX] gained 0.25% on the last trading session, reaching $162.82 price per share at the time. The company report on February 26, 2023 that Chevron Announces Lower Carbon LNG Fleet Modification Project With Sembcorp Marine.

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Chevron Corporation (NYSE: CVX), through its subsidiary Chevron Shipping Company LLC, announced entrance into an agreement with Sembcorp Marine Repairs & Upgrades Pte. Ltd, a wholly owned subsidiary of Sembcorp Marine Ltd. (Sembcorp Marine), intending to reduce the carbon intensity of their LNG fleet operations. Under the agreement, with Sembcorp Marine’s support, Chevron will install new technologies aboard Chevron vessels to support their energy transition goals. The changes are also in alignment with decarbonization targets set by the International Maritime Organization (IMO).

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Chevron Corporation represents 1.91 billion in outstanding shares, while the company has a total market value of $313.90 billion with the latest information. CVX stock price has been found in the range of $161.92 to $163.37.

If compared to the average trading volume of 8.38M shares, CVX reached a trading volume of 6384823 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 $193.70 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 2.50. 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.

Mizuho have made an estimate for Chevron Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 10, 2023. While these analysts kept the previous recommendation, BofA Securities raised their target price from $190 to $191. The new note on the price target was released on January 06, 2023, representing the official price target for Chevron Corporation stock. Previously, the target price had yet another raise to $190, while Exane BNP Paribas analysts kept a Underperform rating on CVX stock.

The Average True Range (ATR) for Chevron Corporation is set at 3.63, with the Price to Sales ratio for CVX stock in the period of the last 12 months amounting to 1.33. 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 9.29. Price to Free Cash Flow for CVX in the course of the last twelve months was 11.77 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 -0.02. With this latest performance, CVX shares dropped by -13.30% in over the last four-week period, additionally sinking by -1.09% over the last 6 months – not to mention a rise of 20.74% 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 38.25, with the RSI for the last a single of trading hit 36.32, and the three-weeks RSI is set at 40.51 for Chevron Corporation [CVX]. The present Moving Average for the last 50 days of trading for this stock 173.20, while it was recorded at 161.70 for the last single week of trading, and 165.60 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 +17.55 and a Gross Margin at +21.20. Chevron Corporation’s Net Margin is presently recorded at +15.00.

Return on Equity for this stock inclined to 23.77, with Return on Assets sitting at 14.26.

Chevron Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.50.

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 -8.19%.

An analysis of insider ownership at Chevron Corporation [CVX]

There are presently around $223,577 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 162,975,771, which is approximately -1.441% of the company’s market cap and around 0.08% of the total institutional ownership; VANGUARD GROUP INC, holding 159,036,903 shares of the stock with an approximate value of $25.9 billion in CVX stocks shares; and BLACKROCK INC., currently with $22.04 billion in CVX stock with ownership of nearly 4.167% of the company’s market capitalization.

Positions in Chevron Corporation stocks held by institutional investors increased at the end of Friday and at the time of the Friday reporting period, where 1,642 institutional holders increased their position in Chevron Corporation [NYSE:CVX] by around 50,557,963 shares. Additionally, 1,443 investors decreased positions by around 55,390,850 shares, while 314 investors held positions by with 1,266,953,087 shares. The mentioned changes placed institutional holdings at 1,372,901,900 shares, according to the latest SEC report filing. CVX stock had 342 new institutional investments in for a total of 6,474,918 shares, while 105 institutional investors sold positions of 4,787,132 shares during the same period.


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