For Chevron Corp. [CVX], Analyst sees a drop to $150. What next?

Chevron Corp. [NYSE: CVX] surged by $0.57 during the normal trading session on while it closed the day at $149.14. The company report on January 24, 2024 at 6:00 AM that Mark Ross to Retire as President of Chevron Shipping Company, Succeeded by Barbara Pickering.

After 33 years of distinguished service, Mark Ross, President of Chevron Shipping Company, has elected to retire effective May 1, 2024. Barbara Pickering, currently Vice President of Operations, Chevron Shipping Company, will succeed Mark as President.

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Mark has led Chevron Shipping Company since 2015. Prior to that, he served as Vice President of Operations of the company for four years. He joined Chevron in 1990 and has held positions of increasing responsibility in Chevron’s Midstream, Upstream, and Downstream organizations. He is also a Director of the American Bureau of Shipping and the UK P&I Club and is a past Chairman of the Oil Companies International Marine Forum (OCIMF) and the Society of International Gas Tanker and Terminal Operators (SIGTTO).

Chevron Corp. stock has also gained 4.85% of its value over the past 7 days. However, CVX stock has declined by -4.32% in the 3 months of the year. Over the past six months meanwhile, it has lost -6.59% and lost -0.01% year-on date.

The market cap for CVX stock reached $280.69 billion, with 1.92 billion shares outstanding and 1.88 billion shares in the current float. Compared to the average trading volume of 10.84M shares, CVX reached a trading volume of 9144065 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 Corp. [CVX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CVX shares is $176.82 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 1.58. 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.

TD Cowen have made an estimate for Chevron Corp. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on January 23, 2024.

The Average True Range (ATR) for Chevron Corp. is set at 2.64, 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 1.70, with the Price to Cash per share for the same quarter was set at 3.32. Price to Free Cash Flow for CVX in the course of the last twelve months was 13.21 with Quick ratio for the last quarter at 0.97.

CVX stock trade performance evaluation

Chevron Corp. [CVX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.85. With this latest performance, CVX shares dropped by -2.15% in over the last four-week period, additionally sinking by -6.59% over the last 6 months – not to mention a drop of -16.72% 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 57.08, with the RSI for the last a single of trading hit 63.12, and the three-weeks RSI is set at 53.72 for Chevron Corp. [CVX]. The present Moving Average for the last 50 days of trading for this stock 146.28, while it was recorded at 145.44 for the last single week of trading, and 156.32 for the last 200 days.

Chevron Corp. [CVX]: An insightful look at the core fundamentals

Chevron Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.97 and a Current Ratio set at 1.25.

Earnings per share (EPS) analysis for Chevron Corp. [CVX] stock

With the latest financial reports released by the company, Chevron Corp. posted 4.09/share EPS, while the average EPS was predicted by analysts to be reported at 4.38/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -6.60%. 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 Corp. go to -5.00%.

Chevron Corp. [CVX]: Institutional Ownership

The top three institutional holders of CVX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CVX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CVX stock with ownership which is approximately 5.8325%.