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Chevron Corp. (CVX) Stock Could Soon Reward Patient Investors

Chevron Corp. (NYSE: CVX) is 6.65% higher on its value in year-to-date trading and has touched a low of $139.62 and a high of $172.88 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 $157.74 in the last trading session, with the day’s gains setting it 1.34%.

Currently trading at $159.08, the stock is 3.64% and 4.89% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.28 million and changing 0.85% at the moment leaves the stock 2.87% off its SMA200. CVX registered -1.11% loss for a year compared to 6-month loss of -6.75%. The firm has a 50-day simple moving average (SMA 50) of $1.55 and a 200-day simple moving average (SMA200) of $6.39.

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The stock witnessed a 4.65% gain in the last 1 month and extending the period to 3 months gives it a 6.22%, and is 2.86% up 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 1.32% over the week and 1.49% over the month.

Chevron Corp. (CVX) has around 45600 employees, a market worth around $295.45B and $197.22B in sales. Current P/E ratio is 14.02 and Fwd P/E is 11.11. Profit margin for the company is 10.84%. Distance from 52-week low is 13.94% and -7.98% from its 52-week high. The company has generated returns on investments over the last 12 months (11.55%).

Chevron Corp. quarterly earnings per share for the current quarter are estimated at $3.03 with sales reaching $50.8B over the same period.The EPS is expected to shrink by -4.15% this year, but quarterly earnings will post 5.70% year-over-year. Quarterly sales are estimated to shrink 0.00% in year-over-year returns.

Chevron Corp. (CVX) Top Institutional Holders

4,108 institutions hold shares in Chevron Corp. (CVX), with institutional investors hold 71.48% of the company’s shares. The shares outstanding are 1.87B, and float is at 1.86B with Short Float at 2.79%. Institutions hold 66.61% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 161.47 million shares valued at $25.41 billion. The investor’s holdings represent 8.65% of the CVX Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 124.71 million shares valued at $19.62 billion to account for 6.68% of the shares outstanding. The other top investors are Berkshire Hathaway, Inc which holds 123.12 million shares representing 6.59% and valued at over $19.37 billion, while State Street Corporation holds 6.47% of the shares totaling 120.79 million with a market value of $19.01 billion.

Chevron Corp. (CVX) Insider Activity

The most recent transaction is an insider sale by Breber Pierre R,the company’sVP & Chief Financial Officer. SEC filings show that Breber Pierre R sold 25,000 shares of the company’s common stock on Aug 11 ’23 at a price of $164.00 per share for a total of $4.1 million. Following the sale, the insider now owns 6021.0 shares.

Chevron Corp. disclosed in a document filed with the SEC on Aug 03 ’23 that GUSTAVSON JEFF B (Vice President) sold a total of 3,750 shares of the company’s common stock. The trade occurred on Aug 03 ’23 and was made at $160.88 per share for $0.6 million. Following the transaction, the insider now directly holds 1718.0 shares of the CVX stock.

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