At the last check on Thursday, Chevron Corporation’s (NYSE:CVX) stock was up $0.93, moving up 0.58 percent to $161.11. The average number of shares traded per day over the past five days has been 4,740,812 shares. 2 times new highs have been achieved over the past 5 days, with a $2.96 gain in that time frame. In the last twenty days, the average volume was 7,005,208, while in the previous 50 days, it was 7,054,435.
Since last month, CVX stock rose 0.86%. Shares of the company fell to $156.22 on 08/08/23, the lowest level in the past month. A 52-week high of $189.68 was reached on 01/26/23 after having rallying from a 52-week low of $140.46. Since the beginning of this year, CVX’s stock price has dropped by -10.24% or -$18.59, and marked a new high 6 times. However, the stock has declined by -15.06% since its 52-week high.
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CVX stock investors should be aware that Chevron Corporation (CVX) stock had its last reported insider trading activity 20 days ago on Aug 11. Breber Pierre R, the VP & Chief Financial Officer of the company, disposed of 25,000 shares for $164.00 on Aug 11. It resulted in a $4,100,000 divestment by the insider. GUSTAVSON JEFF B sold 3,750 shares at an average price of $160.88 on Aug 03. The insider now owns 1,718 shares following the transaction. On Feb 07, Vice President MORRIS RHONDA J sold 19,666 shares at $170.00 apiece. The transaction was valued at $3,343,281.
Valuation Metrics
Right now, Chevron Corporation (CVX) has a P/E ratio of about 10.22. The stock’s beta is 1.17. Besides these, the trailing price-to-sales (P/S) ratio of 1.42, the price-to-book (PB) ratio of 1.90, and the price-to-cash flow ratio of 11.04 may also be considered.
The latest dividend of $1.51 per share was paid out, remained unchanged from last year’s $1.51. On Wednesday January 25 2023, a $0.09 dividend increase was announced.
Financial Health
In the three months ended June 29, Chevron Corporation’s quick ratio stood at 1.10, while its current ratio was 1.40, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.13, and the total debt-to-equity ratio was 0.14. On the profitability front, the trailing twelve-month gross margin is 38.70% percent. In the year ended June 29, EBITDA margin amounted to 24.26%, whereas operating margins totaled 16.80%. Based on annual data, CVX earned $96.8 billion in gross profit and brought in $246.25 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 15.20%. Return on equity (ROE) for the past 12 months was 19.00%.
According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. CVX’s revenue fell -40.63% to $50.79 billion during the quarter, while net income inched up to $48.9 billion. While analysts expected Chevron Corporation to report $2.97 quarterly earnings, the actual figure was $3.08 per share, beating the consensus estimate by 3.70%. During the quarter, the company generated $11.48 billion in EBITDA. The liabilities of Chevron Corporation were 92.48 billion at the end of its most recent quarter ended June 29, and its total debt was $21.51 billion. The value of shareholders’ equity is $1.87 billion.
Technical Picture
This quick technical analysis looks at Chevron Corporation’s (CVX) price momentum. With a historical volatility rate of 8.79%, the RSI 9-day stood at 56.17% on 30 August.
With respect to its five-day moving average, the current Chevron Corporation price is up by +1.87% percent or $2.96. At present, CVX shares trade +0.77% above its 20-day simple moving average and -4.39% percent below its 100-day simple moving average. However, the stock is currently trading approximately +3.89% above its SMA50 and -13.71% below its SMA200.
Stochastic coefficient K was 48.30% and Stochastic coefficient D was 45.16%, while ATR was 2.46. Given the Stochastic reading of 55.63% for the 14-day period, the RSI (14) reading has been calculated as 54.19%. As of today, the MACD Oscillator reading stands at 0.68, while the 14-day reading stands at 0.38.
Analyst Ratings
Mizuho upgraded its rating on Chevron Corporation (NYSE: CVX) to a Buy in a note to investors on August 16, 2023. The analysts firm previously had a Neutral rating on the stock.Chevron Corporation (CVX) has been rated Overweight by analysts. According to 0 brokerage firms, CVX is a sell, and 11 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 2 analysts rate Chevron Corporation stock as buy, with 15 recommending it as overweight.
With a median target price of $180.50, the current consensus forecast for the stock is $165.00 – $209.00. Based on these forecasts, analysts predict Chevron Corporation (CVX) will achieve an average price target of $185.62.
