Chevron Corporation (CVX): Keep paying attention to its insider activity

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Chevron Corporation (NYSE:CVX) saw a downside of -0.13% to close Monday at $180.66 after subtracting -$0.24 on the day. The 5-day average trading volume is 8,872,620 shares of the company’s common stock. It has gained $182.55 in the past week and touched a new high 3 times within the past 5 days. An average of 6,990,500 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 7,704,122.

CVX’s 1-month performance is 4.63% or $3.26 on its low of $170.85 reached on 01/04/23. The company’s shares have touched a 52-week low of $122.84 and high of $189.68, with the stock’s rally to the 52-week high happening on 01/23/23. YTD, CVX has achieved 0.65% or $1.17 and has reached a new high 5 times. However, the current price is down -4.76% from the 52-week high price.


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Insider Transactions

CVX stock investors last saw insider trading activity on Nov 30.JOHNSON JAMES WILLIAM (Executive Vice President) most recently sold 37,300 shares at $182.31 per share on Nov 30. This transaction cost the insider $6,800,230. Executive Vice President, JOHNSON JAMES WILLIAM, sold 2,900 shares at a price of $181.77 on Nov 29. Then, on Nov 28, VP & Chief Financial Officer Breber Pierre R sold 25,000 shares at a price of $179.64 per share. This transaction amounted to $4,490,889.

Valuation Metrics

CVX stock has a beta of 1.19. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.52 while the price-to-book (PB) in the most recent quarter is 2.20, with the price to cash flow ratio at 13.83.

Chevron Corporation’s quick ratio for the period ended June 29 was 1.20, with the current ratio over the same period at 1.40. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.13, while the total debt to equity was 0.15. In terms of profitability, the gross margin trailing 12 months is 39.20%. The firm’s gross profit as reported stood at $66.25 billion against revenue of $162.47 billion.

Earnings Surprise

For the quarterly period ending June 29 this year, Chevron Corporation’s cash and short-term investments amounted to $267.0 million against total debt of $26.24 billion. Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 45.59% to $11.23 billion, while revenue of $11.62 billion was -3.48% off the previous quarter. Analysts expected CVX to announce $5.1 per share in earnings in its latest quarter, but it posted $5.82, representing a 14.10% surprise. EBITDA for the quarter stood at more than $19.14 billion. CVX stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 100.11 billion, with total debt at $26.24 billion. Shareholders hold equity totaling $1.93 billion.

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 23 January was 60.37% to suggest the stock is trending Neutral, with historical volatility in this time period at 15.40%.

The stock’s 5-day moving average is $179.66, reflecting a +1.75% or $3.10 change from its current price. CVX is currently trading +3.41% above its 20-day SMA, +9.74% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -2.53% and SMA200 by+10.59%.

Stochastic %K and %D was 80.58% and 74.78% and the average true range (ATR) pointed at 3.78. The RSI (14) points at 57.02%, while the 14-day stochastic is at 83.88% with the period’s ATR at 3.92. The stock’s 9-day MACD Oscillator is pointing at 1.95 and 3.24 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Chevron Corporation (NYSE: CVX), Mizuho downgraded it to a Neutral rating. They previously had a Buy rating on the stock. Analysts offering their rating for CVX stock have a consensus rating for the stock as Overweight. Currently, 2 brokerage advisors rate CVX as a “sell,”, while 14 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 2 rates the stock as overweight while 11 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 $161.00 and a high of $215.00, with their median price target at $195.50. Looking at these predictions, the average price target given by analysts is for Chevron Corporation (CVX) stock is $192.54.

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