Sunday, June 26, 2022

Selling Buzz: Chevron Corporation [CVX] Director Austin Wanda M sells 12,039 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Chevron Corporation shares valued at $2,134,446 were sold by Austin Wanda M on May 27. At $177.29 per share, Austin Wanda M sold 12,039 shares. The insider’s holdings dropped to 3,543 shares worth approximately $0.52 million following the completion of this transaction.


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Also, JOHNSON JAMES WILLIAM sold 270,000 shares, netting a total of over 47,637,852 in proceeds. Following the sale of shares at $176.44 each, the insider now holds 0 shares.

Before that, Geagea Joseph C had sold 10,000 shares from its account. In a trade valued at $1,775,000, the Executive Vice President traded Chevron Corporation shares for $177.50 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $0.18 million.

As published in a research note from Societe Generale on May 20, 2022, Chevron Corporation [CVX] has been rated down from a Buy to a Hold. Analysts at RBC Capital Mkts downgraded the stock from ‘”an Outperform”‘ to ‘”a Sector perform”‘ outlook in a report released in late April. As of March 14, 2022, Morgan Stanley has decreased its “an Overweight” rating to a “an Equal-weight” for CVX. Earlier on March 11, 2022, JP Morgan downgraded its rating. Their new recommendation was “an Underweight” for CVX stock which previously was a “a Neutral”.

Analyzing CVX’s Price Performance

On Wednesday, Chevron Corporation [NYSE: CVX] plunged -4.35% to $147.87. The stock’s lowest price that day was $146.33, but it reached a high of $150.80 in the same session. During the last five days, there has been a drop of approximately -11.75%. Over the course of the year, Chevron Corporation shares have jumped approximately 26.01%. Shares of the company reached a 52-week high of $182.40 on 06/08/22 and a 52-week low of $117.29 on 01/03/22. A 50-day SMA is recorded $167.57, while a 200-day SMA reached $136.52. Nevertheless, trading volume fell to 13.73 million shares from 13.77 million shares the previous day.

Support And Resistance Levels for Chevron Corporation (CVX)

According to the 24-hour chart, there is a support level at 145.87, which, if violated, would cause prices to drop to 143.86. In the upper region, resistance lies at 150.34. The next price resistance is at 152.80. RSI (Relative Strength Index) is 31.34 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -17.59, which suggests the price will decrease in the coming days. Percent R is at 94.32%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Which companies own the most shares of Chevron Corporation (CVX)?

According to The Vanguard Group, Inc. filings, the company currently owns 160,262,353 shares, which is about 8.16% of the total CVX shares outstanding. The investor’s shares have appreciated by 4,516,133 from its previous 13-F filing of 155746220.0 shares. With the completion of the buy, Berkshire Hathaway, Inc.’s stake is now worth $27,802,049,915. SSgA Funds Management, Inc. reduced a -0.72% interest valued at $24.09 billion while BlackRock Fund Advisors sold a -193,820 stake. A total of 848,574 shares of Chevron Corporation were sold by Geode Capital Management LLC during the quarter, and 5,522,935 were bought by Norges Bank Investment Management. In its current portfolio, Northern Trust Investments, Inc. holds 24,848,259 shares valued at $4.34 billion.

In terms of Chevron Corporation share price expectations, FactSet research, analysts set an average price target of $184.38 in the next 12 months, up nearly 17.73% from the previous closing price of $154.59. Analysts anticipate Chevron Corporation stock to reach $213.00 by 2022, with the lowest price target being $147.00. In spite of this, 30 analysts ranked Chevron Corporation stock as an Overweight at the end of 2022. On March 03, 2022, Cowen assigned a price target of “an Outperform” to the stock and reiterated coverage with a $160.

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