Chevron Corp. [NYSE: CVX] gained 2.94% or 4.35 points to close at $152.24 with a heavy trading volume of 12835098 shares. The company report on February 2, 2024 at 6:15 AM that Chevron Reports Fourth Quarter 2023 Results.
Reported earnings of $2.3 billion; adjusted earnings of $6.5 billion.
The daily chart for CVX points out that the company has recorded -4.65% loss over the past six months.
If we look at the average trading volume of 10.42M shares, CVX reached to a volume of 12835098 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 Corp. [CVX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CVX shares is $177.28 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 1.62. 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 2.83, with the Price to Sales ratio for CVX stock in the period of the last 12 months amounting to 1.45. The Price to Book ratio for the last quarter was 1.74, with the Price to Cash per share for the same quarter was set at 4.37. Price to Free Cash Flow for CVX in the course of the last twelve months was 14.47 with Quick ratio for the last quarter at 0.97.
Trading performance analysis for CVX stock
Chevron Corp. [CVX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.08. With this latest performance, CVX shares dropped by -0.06% in over the last four-week period, additionally sinking by -4.65% over the last 6 months – not to mention a drop of -11.16% 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 61.87, with the RSI for the last a single of trading hit 67.47, and the three-weeks RSI is set at 57.96 for Chevron Corp. [CVX]. The present Moving Average for the last 50 days of trading for this stock 146.79, while it was recorded at 149.35 for the last single week of trading, and 155.77 for the last 200 days.
Chevron Corp. [CVX]: A deeper dive into fundamental analysis
Chevron Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.97 and a Current Ratio set at 1.25.
Chevron Corp. [CVX]: An earnings per share (EPS) analysis
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%.
An analysis of Institutional ownership at Chevron Corp. [CVX]
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%.
