Chevron Corp. (NYSE:CVX) finished Wednesday with an addition of $3.24 to close at $171.04, an upside of 1.93 percent. An average of 6,681,840 shares of common stock have been traded in the last five days. There was a gain of $4.35 in the past week, and it reached a new high 21 times over the past 12 months. The last 20 days have seen an average of 7,560,410 shares traded, while the 50-day average volume stands at 7,457,070.
CVX stock has increased by 6.76% in the last month. The company shares reached their 1-month lowest point of $159.10 on 08/29/23. With the stock rallying to its 52-week high on 01/26/23, shares of the company touched a low of $140.46 and a high of $189.68 in 52 weeks. It has reached a new high 6 times so far this year and lost -4.71% or -$8.45 in price. In spite of this, the price is down -9.83% from the 52-week high.
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Insider Transactions
CVX stock investors should be aware that Chevron Corp. (CVX) stock had its last reported insider trading activity 48 days ago on Aug 11. In this transaction, the insider spent $4,100,000. Vice President, GUSTAVSON JEFF B, disposed of 3,750 shares at a price of $160.88 on Aug 03. The insider now owns more than $603,300 worth of shares. Prior to that, Vice President MORRIS RHONDA J went on to Sale 19,666 shares at $170.00 each on Feb 07. An amount of $3,343,281 was transacted.
Valuation Metrics
Chevron Corp. (CVX) has a trailing price-to-earnings (P/E) ratio of 10.85. The stock’s beta is 1.14. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.53, the price-to-book (PB) ratio at 2.02, and the price-to-cash flow ratio at 11.60.
The company has a payout ratio of 31.07%. The company’s most recent quarterly dividend payment was $1.51 a share, without any change from last year. Its latest increase dividend $0.09 reported on Wednesday January 25 2023.
Financial Health
The quick ratio of Chevron Corp. for the three months ended June 29 was 1.13, and the current ratio was 1.43, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.13 and a total debt to equity ratio of 0.14 for the quarter ending June 29. Chevron Corp.’s EBITDA margin for the year ending June 29 is 24.26%, while its operating margin for the same period stands at 15.64%. Its gross profit as reported stood at $96.8 billion compared to revenue of $246.25 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Chevron Corp.’s return on assets was 11.84%.
Earnings Surprise
In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $6.01 billion in the quarter, while revenues of $6.57 billion were shrunk -93.38%. The analyst consensus anticipated Chevron Corp.’s latest quarter earnings to come in at $2.81 per share, but it turned out to be $2.91, a 3.60% surprise. For the quarter, EBITDA amounted to $11.48 billion. Shareholders own equity worth $1.87 billion.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Chevron Corp. (CVX) price momentum. RSI 9-day as of the close on 27 September was 70.16%, suggesting the stock is Overbought, with historical volatility in this time frame at 14.06%.
As of today, CVX’s price is $167.80 +2.61% or $4.35 from its 5-day moving average. CVX is currently trading +6.93% higher than its 20-day SMA and +9.49% higher than its 100-day SMA. However, the stock’s current price level is +11.25% above the SMA50 and -1.44% below the SMA200.
The stochastic %K and %D were 91.52% and 77.74%, respectively, and the average true range (ATR) was 2.57. With the 14-day stochastic at 97.73% and the average true range at 2.62, the RSI (14) stands at 66.65%. The stock has reached 1.78 on the 9-day MACD Oscillator while the 14-day reading was at 2.19.
Analyst Ratings
Mizuho upgraded Chevron Corp. (NYSE: CVX) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Neutral.
