What Analysts Say about the Chevron Corporation (CVX) Stock

Chevron Corporation (NYSE:CVX) saw an upside of 2.24% to close Friday at $108.05 after adding $2.37 on the day. The 5-day average trading volume is 11,273,920 shares of the company’s common stock. It has gained $108.43 in the past week. An average of 12,224,315 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 10,869,040.

CVX’s 1-month performance is 12.55% or $11.66 on its low of $93.31 reached on 09/20/21. The company’s shares have touched a 52-week low of $65.16 and high of $113.11, with the stock’s rally to the 52-week high happening on 05/10/21. YTD, CVX has achieved 27.95% or $23.60. However, the current price is down -4.47%% from the 52-week high price.

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Insider Transactions

On May 17, 147 days have gone by since the last insider trading activity for Chevron Corporation (CVX). Pate R. Hewitt (VP and General Counsel) most recently sold 45,650 shares at $110.33 per share on May 17. This transaction cost the insider $5,036,574. Director, HERNANDEZ ENRIQUE JR, sold 5,101 shares at a price of $110.79 on May 10. Then, on Jan 20, VP & Chief Financial Officer Breber Pierre R sold 13,000 shares at a price of $95.00 per share. This transaction amounted to $1,235,000.

Valuation Metrics

The company’s PE ratio for the last five years has touched a high of 80.42 and a low of 13.59. CVX stock has a beta of 1.26. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.76 while the price-to-book (PB) in the most recent quarter is 1.56.

Chevron Corporation pays an annual dividend of $5.36 per share. Its dividend yield is 4.96% and the payout ratio is 279.00%. CVX’s most recent quarterly dividend payment was made on Sep. 10, when it paid $1.34 a share compared with prior rate of $1.34, down 0.0% from last year’s. The company has boosted its dividend for the last 34 consecutive years with the latest dividend increase of $0.05 reported on Wednesday April 28 2021. Measured over the last 3 years, the Dividend has been growing by 19.44% yearly.

It is projected that Chevron Corporation’s next ex-dividend date will be on 17-Nov. CVX is expected to distribute $1.34 as its next dividend.

Chevron Corporation’s quick ratio for the period ended June 29 was 0.90, with the current ratio over the same period at 1.20 meaning that CVX stock is not able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.30, while the total debt to equity was 0.32. In terms of profitability, the gross margin trailing 12 months is 44.10%. The trailing 12-month EBITDA margin is 15.25% while for the period ending June 29; Chevron Corporation’s operating margin was 3.80%. The firm’s gross profit as reported stood at $39.7 billion against revenue of $94.69 billion.

Earnings Surprise

For the quarterly period ending June 29 this year, Chevron Corporation’s cash and short-term investments amounted to $34.0 million against total debt of $43.02 billion. Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected CVX to announce $1.59 per share in earnings in its latest quarter, but it posted $1.71, representing a 7.50% surprise. EBITDA for the quarter stood at more than $9.13 billion. CVX stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 108.89 billion, with total debt at $43.02 billion. Shareholders hold equity totaling $1.93 billion

Technical Picture

Let’s look briefly at Chevron Corporation (CVX) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 October was 75.22% to suggest the stock is trending Overbought, with historical volatility in this time period at 20.90%.

The stock’s 5-day moving average is $105.85, reflecting a +3.57% or $3.72 change from its current price. CVX is currently trading +12.47% above its 20-day SMA, +1.76% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +5.34% and +28.08% respectively.

Stochastic %K and %D was 87.76% and 86.00% and the average true range (ATR) pointed at 2.31. The RSI (14) points at 69.53%, while the 14-day stochastic is at 97.36% with the period’s ATR at 2.28. The stock’s 9-day MACD Oscillator is pointing at 1.59 and 3.52 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Chevron Corporation (NYSE: CVX), JP Morgan downgraded it to a Neutral rating. They previously had an Overweight rating on the stock. Analysts offering their rating for CVX stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate CVX as a “sell,”, while 13 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 16 have offered a “buy” rating.

What is CVX’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $105.00 and a high of $155.00, with their median price target at $124.00. Looking at these predictions, the average price target given by analysts is for Chevron Corporation (CVX) stock is $124.23.


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