Chevron Corporation (CVX) Analysis & Forecast for 2021

Chevron Corporation (NYSE: CVX) is 23.37% higher on its value in year-to-date trading and has touched a low of $65.16 and a high of $112.70 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CVX stock was last observed hovering at around $103.58 in the last trading session, with the day’s gains setting it 0.61% off its average median price target of $122.00 for the next 12 months. It is also 31.45% off the consensus price target high of $152.00 offered by 30 analysts, but current levels are -13.87% lower than the price target low of $91.50 for the same period.

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Currently trading at $104.19, the stock is -2.18% and 4.44% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.18 million and changing 0.59% at the moment leaves the stock 18.75% off its SMA200. CVX registered 29.61% gain for a year compared to 6-month gain of 43.32%. The firm has a 50-day simple moving average (SMA 50) of $104.15 and a 200-day simple moving average (SMA200) of $88.20.

The stock witnessed a -5.07% loss in the last 1 month and extending the period to 3 months gives it a 19.76%, and is -1.64% 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 1.51% over the week and 2.11% over the month.

Chevron Corporation (CVX) has around 47736 employees, a market worth around $198.89B and $94.23B in sales. Fwd P/E is 16.52. Profit margin for the company is -5.90%. Distance from 52-week low is 59.90% and -7.55% from its 52-week high. The company has generated returns on investments over the last 12 months (-2.00%).

Chevron Corporation (CVX) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Chevron Corporation (CVX) is a “Overweight”. 30 analysts offering their recommendations for the stock have an average rating of 2.20, where 13 rate it as a Hold and 1 think it is a “Overweight”. 16 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Chevron Corporation is expected to release its quarterly report on 07/23/2021 and quarterly earnings per share for the current quarter are estimated at $0.93 with sales reaching $30.32B over the same period.The EPS is expected to shrink by -291.90% this year, but quarterly earnings will post 42.80% year-over-year. Quarterly sales are estimated to shrink -3.80% in year-over-year returns.

Chevron Corporation (CVX) Top Institutional Holders

3,005 institutions hold shares in Chevron Corporation (CVX), with 732.02k shares held by insiders accounting for 0.04% while institutional investors hold 67.59% of the company’s shares. The shares outstanding are 1.91B, and float is at 1.88B with Short Float at 1.22%. Institutions hold 67.57% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 157.79 million shares valued at $13.33 billion. The investor’s holdings represent 8.19% of the CVX Shares outstanding. As of Dec 30, 2020, the second largest holder is State Street Corporation with 127.92 million shares valued at $10.8 billion to account for 6.64% of the shares outstanding. The other top investors are Blackrock Inc. which holds 126.82 million shares representing 6.58% and valued at over $10.71 billion, while Berkshire Hathaway, Inc holds 2.52% of the shares totaling 48.5 million with a market value of $4.1 billion.

Chevron Corporation (CVX) Insider Activity

A total of 59 insider transactions have happened at Chevron Corporation (CVX) in the last six months, with sales accounting for 29 and purchases happening 30 times. The most recent transaction is an insider purchase by HEWSON MARILLYN A ,the company’sDirector. SEC filings show that HEWSON MARILLYN A bought 3,200 shares of the company’s common stock on Feb 18 at a price of $95.21 per share for a total of $0.3 million. Following the purchase, the insider now owns 4261.0 shares.

Chevron Corporation disclosed in a document filed with the SEC on Jan 20 that Breber Pierre R (VP & Chief Financial Officer) sold a total of 13,000 shares of the company’s common stock. The trade occurred on Jan 20 and was made at $95.00 per share for $1.24 million. Following the transaction, the insider now directly holds 686.0 shares of the CVX stock.

Still, SEC filings show that on Jan 19, Wirth Michael K (Chairman and CEO) disposed off 132,000 shares at an average price of $94.73 for $12.5 million. The insider now directly holds 0 shares of Chevron Corporation (CVX).

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Chevron Corporation (CVX): Who are the competitors?

The company’s main competitors (and peers) include TOTAL SE (TOT) that is trading 24.43% up over the past 12 months and Hess Corporation (HES) that is 107.83% higher over the same period. Exxon Mobil Corporation (XOM) is 39.83% up on the 1-year trading charts. Short interest in the company’s stock has fallen -54.6% from the last report on Mar 14, 2021 to stand at a total of 22.85 million short shares sold with a short interest ratio of 1.59.

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