Chevron Corporation [CVX] Revenue clocked in at $235.72 billion, down -11.58% YTD: What’s Next?

Chevron Corporation [NYSE: CVX] traded at a low on 03/13/23, posting a -0.60 loss after which it closed the day’ session at $158.71. The company report on March 8, 2023 that Chevron to Host Chevron Exchange Q&A Series for Retail Shareholders.

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Chevron Corporation (NYSE: CVX) announced today the second retail event in the Chevron Exchange Q&A Series, a virtual fireside chat with President of Chevron New Energies (CNE), Jeff Gustavson, on Thursday, March 23, 2023. Chevron will offer a platform to receive and answer questions from verified retail shareholders.

Gustavson plans to address a selection of top-voted questions from shareholders related to Chevron’s strategy, business and financial performance. The discussion will be moderated by Jeanine Wai, Senior U.S. Integrated Oil and E&P Research Analyst at Barclays, and will begin at 11:00 a.m. ET / 8:00 a.m. PT.

The results of the trading session contributed to over 10089770 shares changing hands. Over the past one week, the price volatility of Chevron Corporation stands at 3.20% while the volatility over the past one month is 2.08%.

The market cap for CVX stock reached $304.20 billion, with 1.91 billion shares outstanding and 1.90 billion shares in the current float. Compared to the average trading volume of 8.28M shares, CVX reached a trading volume of 10089770 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 $192.96 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 4.08, with the Price to Sales ratio for CVX stock in the period of the last 12 months amounting to 1.29. The Price to Book ratio for the last quarter was 1.90, with the Price to Cash per share for the same quarter was set at 9.34. Price to Free Cash Flow for CVX in the course of the last twelve months was 11.41 with Quick ratio for the last quarter at 1.20.

How has CVX stock performed recently?

Chevron Corporation [CVX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.49. With this latest performance, CVX shares dropped by -5.78% in over the last four-week period, additionally sinking by -0.79% over the last 6 months – not to mention a drop of -7.09% 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 35.31, with the RSI for the last a single of trading hit 31.40, and the three-weeks RSI is set at 38.18 for Chevron Corporation [CVX]. The present Moving Average for the last 50 days of trading for this stock 170.94, while it was recorded at 161.18 for the last single week of trading, and 165.26 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 $217,898 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 $25.24 billion in CVX stocks shares; and BLACKROCK INC., currently with $21.48 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 1,649 institutional holders increased their position in Chevron Corporation [NYSE:CVX] by around 50,130,725 shares. Additionally, 1,446 investors decreased positions by around 55,253,681 shares, while 315 investors held positions by with 1,267,546,987 shares. The mentioned changes placed institutional holdings at 1,372,931,393 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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