Chevron Corporation [CVX] is -7.42% lower this YTD. Is it still time to buy?

Chevron Corporation [NYSE: CVX] jumped around 1.21 points on Monday, while shares priced at $166.17 at the close of the session, up 0.73%. The company report on March 6, 2023 that Bayou Bend Expands Carbon Capture Project to Onshore Southeast Texas.

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Bayou Bend CCS LLC (“Bayou Bend”), a carbon capture and sequestration project located along the Texas Gulf Coast, announced today an expansion of its carbon dioxide (“CO2”) storage footprint through the acquisition of nearly 100,000 acres onshore in Chambers and Jefferson Counties, Texas. The increased acreage positions Bayou Bend to be one of the largest carbon storage projects in the United States.

This press release features multimedia. View the full release here:

Chevron Corporation stock is now -7.42% down from its year-to-date (YTD) trading value. CVX Stock saw the intraday high of $166.80 and lowest of $163.81 per share. The company’s 52-week high price is 189.68, which means current price is +4.57% above from all time high which was touched on 01/26/23.

Compared to the average trading volume of 8.42M shares, CVX reached a trading volume of 7699233 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 $192.63 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 2.60. 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 3.57, with the Price to Sales ratio for CVX stock in the period of the last 12 months amounting to 1.32. The Price to Book ratio for the last quarter was 1.99, with the Price to Cash per share for the same quarter was set at 9.53. Price to Free Cash Flow for CVX in the course of the last twelve months was 11.71 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 2.06. With this latest performance, CVX shares dropped by -1.68% in over the last four-week period, additionally plugging by 6.83% over the last 6 months – not to mention a rise of 6.37% 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 47.47, with the RSI for the last a single of trading hit 52.67, and the three-weeks RSI is set at 46.24 for Chevron Corporation [CVX]. The present Moving Average for the last 50 days of trading for this stock 172.44, while it was recorded at 163.30 for the last single week of trading, and 165.46 for the last 200 days.

Chevron Corporation [CVX]: Deeper insight into the fundamentals

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.

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 -8.19%.

Insider trade positions for Chevron Corporation [CVX]

There are presently around $228,130 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 $26.43 billion in CVX stocks shares; and BLACKROCK INC., currently with $22.49 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 1,650 institutional holders increased their position in Chevron Corporation [NYSE:CVX] by around 50,273,720 shares. Additionally, 1,445 investors decreased positions by around 55,253,641 shares, while 315 investors held positions by with 1,267,346,098 shares. The mentioned changes placed institutional holdings at 1,372,873,459 shares, according to the latest SEC report filing. CVX stock had 354 new institutional investments in for a total of 6,586,219 shares, while 104 institutional investors sold positions of 4,785,448 shares during the same period.


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