Chevron Corporation [NYSE: CVX] loss -0.88% on the last trading session, reaching $170.92 price per share at the time. The company report on April 17, 2023 that Chevron Road Trip Demonstrates Renewable Gasoline Blend.
Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE: CVX), kicked off a road trip today across the U.S. Gulf Coast to showcase an innovative new gasoline blend with more than 50 percent renewable content. People from Chevron and Toyota will be driving Toyota’s Tundra, RAV4 and Camry on this road trip with the objective of demonstrating the fuel, which is more than 40 percent less carbon intensive than traditional gasoline on a lifecycle basis.
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The road trip will run from Mississippi through Louisiana before concluding in Texas. During the tour, Chevron representatives will talk with members of the public about the benefits of lower carbon fuels like biofuels and renewable gasoline blend. Renewable gasoline blend can notably reduce lifecycle emissions and be used in the existing automotive fleet and with the existing fueling network. People can follow the tour on Twitter and LinkedIn using the hashtag #futurefuelsshowcase.
Chevron Corporation represents 1.91 billion in outstanding shares, while the company has a total market value of $325.23 billion with the latest information. CVX stock price has been found in the range of $170.22 to $172.54.
If compared to the average trading volume of 8.87M shares, CVX reached a trading volume of 6999695 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 $191.92 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.
Scotiabank have made an estimate for Chevron Corporation shares, keeping their opinion on the stock as Sector Outperform, with their previous recommendation back on April 13, 2023. The new note on the price target was released on April 04, 2023, representing the official price target for Chevron Corporation stock. Previously, the target price had yet another raise from $185 to $200, while Mizuho kept a Neutral rating on CVX stock. On January 06, 2023, analysts increased their price target for CVX shares from 190 to 191.
The Average True Range (ATR) for Chevron Corporation is set at 3.34, with the Price to Sales ratio for CVX stock in the period of the last 12 months amounting to 1.38. The Price to Book ratio for the last quarter was 2.05, with the Price to Cash per share for the same quarter was set at 9.41. Price to Free Cash Flow for CVX in the course of the last twelve months was 12.20 with Quick ratio for the last quarter at 1.20.
Trading performance analysis for CVX stock
Chevron Corporation [CVX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.56. With this latest performance, CVX shares gained by 10.78% in over the last four-week period, additionally plugging by 3.41% over the last 6 months – not to mention a drop of -0.44% 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 61.63, with the RSI for the last a single of trading hit 65.56, and the three-weeks RSI is set at 57.67 for Chevron Corporation [CVX]. The present Moving Average for the last 50 days of trading for this stock 164.02, while it was recorded at 170.90 for the last single week of trading, and 164.97 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 Total Capital for CVX is now 22.89, given the latest momentum, and Return on Invested Capital for the company is 19.91. Return on Equity for this stock inclined to 23.77, with Return on Assets sitting at 14.26. When it comes to the capital structure of this company, Chevron Corporation [CVX] has a Total Debt to Total Equity ratio set at 17.18. Additionally, CVX Total Debt to Total Capital is recorded at 14.66, with Total Debt to Total Assets ending up at 10.62. Long-Term Debt to Equity for the company is recorded at 15.25, with the Long-Term Debt to Total Capital now at 13.02.
Reflecting on the efficiency of the workforce at the company, Chevron Corporation [CVX] managed to generate an average of $808,854 per employee. Receivables Turnover for the company is 12.16 with a Total Asset Turnover recorded at a value of 0.95.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 -7.68%.
An analysis of insider ownership at Chevron Corporation [CVX]
There are presently around $235,434 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 0.04% of the total institutional ownership; VANGUARD GROUP INC, holding 159,036,903 shares of the stock with an approximate value of $27.42 billion in CVX stocks shares; and BLACKROCK INC., currently with $23.34 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 1,624 institutional holders increased their position in Chevron Corporation [NYSE:CVX] by around 49,347,586 shares. Additionally, 1,450 investors decreased positions by around 54,373,977 shares, while 315 investors held positions by with 1,261,589,052 shares. The mentioned changes placed institutional holdings at 1,365,310,615 shares, according to the latest SEC report filing. CVX stock had 323 new institutional investments in for a total of 6,385,265 shares, while 111 institutional investors sold positions of 4,488,938 shares during the same period.