A company insider recently sold 85,300 shares of Chevron Corporation [CVX]. Should You Sale?

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 $13,989,993 were sold by JOHNSON JAMES WILLIAM on Aug 25. At $164.01 per share, JOHNSON JAMES WILLIAM sold 85,300 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.


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Also, Breber Pierre R sold 22,500 shares, netting a total of over 3,631,212 in proceeds. Following the sale of shares at $161.39 each, the insider now holds 7 shares.

Before that, Breber Pierre R had sold 22,500 shares from its account. In a trade valued at $3,557,475, the VP & Chief Financial Officer traded Chevron Corporation shares for $158.11 each. Upon closing the transaction, the insider’s holdings decreased to 22,500 shares, worth approximately $1085.07.

Analysts at Societe Generale upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early August. As of July 20, 2022, HSBC Securities has increased its “Hold” rating to a “Buy” for CVX. Earlier on May 20, 2022, Societe Generale downgraded its rating. Their new recommendation was “a Hold” for CVX stock which previously was a “a Buy”.

Analyzing CVX’s Price Performance

On Wednesday, Chevron Corporation [NYSE: CVX] plunged -0.81% to $155.01. The stock’s lowest price that day was $154.95, but it reached a high of $158.78 in the same session. During the last five days, there has been a drop of approximately -5.06%. Over the course of the year, Chevron Corporation shares have jumped approximately 32.09%. 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 $154.96, while a 200-day SMA reached $150.52. Nevertheless, trading volume fell to 6.85 million shares from 8.96 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 153.71, which, if violated, would cause prices to drop to 152.42. In the upper region, resistance lies at 157.54. The next price resistance is at 160.08. RSI (Relative Strength Index) is 44.99 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.94, which suggests the price will decrease in the coming days. Percent R is at 79.93%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Chevron Corporation subject to short interest?

Stocks of Chevron Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.68 million shares to 19.9 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 19.22 million shares. A jump of 3.42% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.66 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.66.

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

According to Berkshire Hathaway, Inc. filings, the company currently owns 161,440,149 shares, which is about 8.25% of the total CVX shares outstanding. The investor’s shares have appreciated by 2,262,032 from its previous 13-F filing of 159178117.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $24,674,284,433. SSgA Funds Management, Inc. reduced a -0.50% interest valued at $21.69 billion while BlackRock Fund Advisors purchased a 6,704,266 stake. A total of 1,862,987 shares of Chevron Corporation were bought by Geode Capital Management LLC during the quarter, and 6,814,103 were bought by Norges Bank Investment Management. In its current portfolio, Northern Trust Investments, Inc. holds 25,219,717 shares valued at $3.99 billion.

In terms of Chevron Corporation share price expectations, FactSet research, analysts set an average price target of $180.30 in the next 12 months, up nearly 15.18% from the previous closing price of $156.28. Analysts anticipate Chevron Corporation stock to reach $202.00 by 2022, with the lowest price target being $150.00. In spite of this, 29 analysts ranked Chevron Corporation stock as an Overweight at the end of 2022. On April 21, 2022, RBC Capital Mkts assigned a price target of “a Sector perform” to the stock and downgraded coverage with a $165.

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