Chevron Corporation (NYSE: CVX)’s stock price has increased by 0.32 compared to its previous closing price of 153.80. Despite this, the company has experienced a -3.88% fall in its stock price over the last five trading sessions. MarketWatch.com reported 4 hours ago that Republicans’ pro-drilling energy bill is DOA. It’s still a rebuke of Biden’s climate agenda and a 2024 weapon.
Is It Worth Investing in Chevron Corporation (NYSE: CVX) Right Now?
The price-to-earnings ratio for Chevron Corporation (NYSE: CVX) is above average at 8.45x, while the 36-month beta value is 1.16.Analysts have differing opinions on the stock, with 9 analysts rating it as a “buy,” 2 as “overweight,” 14 as “hold,” and 2 as “sell.”
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The average price point forecasted by analysts for Chevron Corporation (CVX) is $190.79, which is $38.67 above the current market price. The public float for CVX is 1.90B, and currently, short sellers hold a 0.73% ratio of that floaft. The average trading volume of CVX on March 17, 2023 was 8.46M shares.
CVX’s Market Performance
The stock of Chevron Corporation (CVX) has seen a -3.88% decrease in the past week, with a -10.46% drop in the past month, and a -11.09% fall in the past quarter. The volatility ratio for the week is 3.99%, and the volatility levels for the past 30 days are at 2.41% for CVX. The simple moving average for the last 20 days is -4.87% for CVX stock, with a simple moving average of -6.53% for the last 200 days.
Analysts’ Opinion of CVX
Many brokerage firms have already submitted their reports for CVX stocks, with Mizuho repeating the rating for CVX by listing it as a “Neutral.” The predicted price for CVX in the upcoming period, according to Mizuho is $200 based on the research report published on January 10th of the current year 2023.
BofA Securities, on the other hand, stated in their research note that they expect to see CVX reach a price target of $191, previously predicting the price at $190. The rating they have provided for CVX stocks is “Neutral” according to the report published on January 06th, 2023.
Exane BNP Paribas gave a rating of “Underperform” to CVX, setting the target price at $190 in the report published on December 14th of the previous year.
CVX Trading at -9.28% from the 50-Day Moving Average
After a stumble in the market that brought CVX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -18.66% of loss for the given period.
Volatility was left at 2.41%, however, over the last 30 days, the volatility rate increased by 3.99%, as shares sank -8.71% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -11.32% lower at present.
During the last 5 trading sessions, CVX fell by -3.88%, which changed the moving average for the period of 200-days by -13.46% in comparison to the 20-day moving average, which settled at $161.46. In addition, Chevron Corporation saw -14.04% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CVX starting from MORRIS RHONDA J, who sale 19,666 shares at the price of $170.00 back on Feb 07. After this action, MORRIS RHONDA J now owns 3,967 shares of Chevron Corporation, valued at $3,343,281 using the latest closing price.
JOHNSON JAMES WILLIAM, the Executive Vice President of Chevron Corporation, sale 37,300 shares at $182.31 during a trade that took place back on Nov 30, which means that JOHNSON JAMES WILLIAM is holding 0 shares at $6,800,230 based on the most recent closing price.
Stock Fundamentals for CVX
Current profitability levels for the company are sitting at:
- +17.55 for the present operating margin
- +21.20 for the gross margin
The net margin for Chevron Corporation stands at +15.00. Equity return is now at value 23.00, with 13.80 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 1.47.
Conclusion
In a nutshell, Chevron Corporation (CVX) has experienced a bad performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
