The stock of Chevron Corporation (NYSE:CVX) decreased by -$0.33 on Friday to finish at $163.82, down -0.20 percent. The last five days have seen an average of 6,862,756 shares of common stock traded. 6 times new highs were reached in the current year, with a fall of -$15.97. The average number of shares traded over the last 20 days was 7,770,884, while the average volume over the last 50 days totaled 7,754,733.
CVX stock appreciated 6.67% since last month. On 07/18/23, the company’s shares reached a one-month low of $152.37. The stock touched a high of $189.68 on 01/26/23, after rallying from a low of $140.46 in 52 weeks. The price of CVX stock has declined by -8.73% or -$15.97 this year, reaching a new high 6 times. Still, the stock price is down -13.63% from the 52-week high.
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Insider Transactions
CVX stock investors should be aware that Chevron Corporation (CVX) stock had its last reported insider trading activity 11 days ago on Aug 03. On Aug 03, Vice President GUSTAVSON JEFF B sold 3,750 shares at $160.88 each. This transaction resulted in the insider making $603,300. On Feb 07, MORRIS RHONDA J sold 19,666 shares at a price of US$170.00. After the transaction, the insider now owns 3,967 shares. Executive Vice President JOHNSON JAMES WILLIAM had earlier sold 37,300 shares on Nov 30 for $182.31 a share. The transaction was completed for $6,800,230.
Valuation Metrics
Chevron Corporation (CVX) has a trailing price-to-earnings (P/E) ratio of 10.39. Beta for the stock is 1.17. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.43, the price-to-book (PB) ratio of 1.93, and the price-to-cash flow ratio of 11.08.
Company paid $1.51 per share in dividends, remained unchanged from $1.51 last year.
Financial Health
For the three months ended June 29, Chevron Corporation’s quick ratio was 1.10, while its current ratio was 1.40, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.13, and the total debt to equity ratio is 0.14. As far as profitability goes, gross margin for the trailing twelve months is 38.70% percent. Chevron Corporation’s EBITDA margin for the year ended June 29 was 24.26%, whereas its operating margin stood at 16.80% for the same period. Based on annual data, it had gross profit of $96.8 billion and revenue of $246.25 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. CVX’s return on assets (ROA) during the last 12 months has been 11.80%. There was a 15.20% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 19.00%.
Earnings Surprise
According to Chevron Corporation’s quarterly financial report for the quarter that ended June 29, it had $318.0 million in cash and short-term investments. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $48.9 billion, while revenues fell by -40.63% to $50.79 billion. It was predicted that Chevron Corporation’s quarterly earnings would be $3.08, but it ended up being $2.97, beating the consensus by 3.70%. EBITDA was $11.48 billion for the quarter. At the end of Chevron Corporation’s most recent quarter ended June 29, its liabilities totaled 92.48 billion, while its total debt was $21.51 billion. Equity owned by shareholders amounts to $1.87 billion.
Technical Picture
Here’s a quick look at Chevron Corporation’s (CVX) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 64.65%, suggesting the stock is Neutral, with a 14.38% historical volatility rate.
The stochastic %K and %D were 83.20% and 67.52% respectively, while the average true range (ATR) was 3.05. Based on the 14-day stochastic reading of 90.91%, the RSI (14) reading is 60.84%. On the 9-day MACD Oscillator, the stock is at 2.10, and the 14-day reading is at 1.94.
Analyst Ratings
In its most recent analyst report, Goldman raised its rating on Chevron Corporation (NYSE: CVX) to a Buy. Prior to this, analysts firm rated the stock as a Neutral. Analysts have assigned Chevron Corporation (CVX) an Overweight rating. CVX is a stock that is recommended for selling by 0 brokerage firms, while 12 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 2 rates it overweight and 14 others recommend it as a buy.
What is CVX’s price target for the next 12 months?
The current consensus forecast for the stock is between $165.00 and $209.00, with a median target price of $180.50. In analyzing these forecasts, the average price target given by analysts for Chevron Corporation (CVX) is $185.19.
