Chevron Corporation (CVX) 2020 Stock Forecast: Bullish Outlook with 33.91% Upside

Chevron Corporation (NYSE: CVX) is -30.35% lower on its value in year-to-date trading and has touched a low of $51.60 and a high of $125.27 in the current 52-week trading range. The CVX stock was last observed hovering at around $85.63 in the last trading session, with the day’s loss setting it -1.7% off its average median price target of $100.00 for the next 12 months. It is also 33.91% off the consensus price target high of $127.00 offered by 25 analysts, but current levels are -19.9% lower than the price target low of $70.00 for the same period.

Currently trading at $83.93, the stock is -3.88% and -4.47% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 9.31 million and changing -1.99% at the moment leaves the stock -13.30% off its SMA200. CVX registered -28.70% loss for a year compared to 6-month loss of -11.08%. The firm has a 50-day simple moving average (SMA 50) of $87.82 and a 200-day simple moving average (SMA200) of $88.07.

The stock witnessed a -0.01% gain in the last 1 month and extending the period to 3 months gives it a -11.36%, and is -3.75% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.02% over the week and 2.25% over the month.

Chevron Corporation (CVX) has around 48200 employees, a market worth around $155.41B and $114.79B in sales. Fwd P/E is 29.29. Profit margin for the company is -7.60%. Distance from 52-week low is 62.66% and -33.00% from its 52-week high. The company has generated returns on investments over the last 12 months (0.20%).

Chevron Corporation (CVX) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Chevron Corporation (CVX) is a “Overweight”. 25 analysts offering their recommendations for the stock have an average rating of 2.30, where 8 rate it as a Hold and 2 think it is a “Overweight”. 14 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Chevron Corporation is expected to release its quarterly report on 10/30/2020 and quarterly earnings per share for the current quarter are estimated at -$0.09 with sales reaching $26.48B over the same period.The EPS is expected to shrink by -80.00% this year, but quarterly earnings will post -30.50% year-over-year. Quarterly sales are estimated to shrink -26.70% in year-over-year returns.

Chevron Corporation (CVX) Top Institutional Holders

3,029 institutions hold shares in Chevron Corporation (CVX), with 840.27k shares held by insiders accounting for 0.05% while institutional investors hold 68.99% of the company’s shares. The shares outstanding are 1.87B, and float is at 1.87B with Short Float at 0.93%. Institutions hold 68.96% of the Float.

Chevron Corporation (CVX) Insider Activity

A total of 13 insider transactions have happened at Chevron Corporation (CVX) in the last six months, with sales accounting for 2 and purchases happening 11 times. The most recent transaction is an insider sale by INCHAUSTI DAVID A, the company’s Vice Pres. and Comptroller. SEC filings show that INCHAUSTI DAVID A sold 5,750 shares of the company’s common stock on Aug 11 at a price of $92.00 per share for a total of $0.53 million. Following the sale, the insider now owns 0.0 shares.

Chevron Corporation disclosed in a document filed with the SEC on Feb 28 that MOORMAN CHARLES W (Director) bought a total of 6,551 shares of the company’s common stock. The trade occurred on Feb 28 and was made at $91.43 per share for $0.6 million. Following the transaction, the insider now directly holds 29485.0 shares of the CVX stock.

Still, SEC filings show that on Feb 28, Frank John (Director) acquired 500 shares at an average price of $91.79 for $45893.0. The insider now directly holds 2,150 shares of Chevron Corporation (CVX).

Chevron Corporation (CVX): Who are the competitors?

The company’s main competitors (and peers) include TOTAL SE (TOT) that is trading -20.73% down over the past 12 months. Exxon Mobil Corporation (XOM) is -41.68% down on the 1-year trading charts. Short interest in the company’s stock has risen 30.84% from the last report on Jul 14, 2020 to stand at a total of 11.95 million short shares sold with a short interest ratio of 1.98.