CVX (Chevron Corporation) may reap gains as insiders became active recently


Chevron Corporation’s recently made public that its Vice President MORRIS RHONDA J unloaded Company’s shares for reported $3.34 million on Feb 07. In the deal valued at $170.00 per share,19,666 shares were sold. As a result of this transaction, MORRIS RHONDA J now holds 3,967 shares worth roughly $ 0.64 million.

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Then, JOHNSON JAMES WILLIAM sold 37,300 shares, generating $6,800,230 in total proceeds. Upon selling the shares at $182.31, the Executive Vice President now owns 0 shares.

Before that, JOHNSON JAMES WILLIAM sold 2,900 shares. Chevron Corporation shares valued at $527,146 were divested by the Executive Vice President at a price of $181.77 per share. As a result of the transaction, JOHNSON JAMES WILLIAM now holds 0 shares, worth roughly $0.0.

Mizuho downgraded its Chevron Corporation [CVX] rating to a Neutral from a a Buy in a research note published on Friday, January 10, 2023; the price target was increased to $200 from $185. PT values the company’s stock at a premium of 18.8 to its Friday closing price. A number of analysts have revised their coverage, including BofA Securities’s analysts, who decreased its forecast for the stock in early January from “a Buy” to “a Neutral”. Exane BNP Paribas also remained covering CVX and has decreased its forecast on December 14, 2022 with a “an Underperform” recommendation from previously “Neutral” rating. HSBC Securities revised its rating on October 24, 2022. It rated CVX as “a Hold” which previously was an “a Buy”.

Price Performance Review of CVX

On Friday, Chevron Corporation [NYSE:CVX] saw its stock jump 0.30% to $162.41. On the same session, the stock had its day’s lowest price of $159.15, but rose to a high of $162.60. Over the last five days, the stock has lost -2.50%. Chevron Corporation shares have fallen nearly -9.52% since the year began. Nevertheless, the stocks have risen 19.82% over the past one year. While a 52-week high of $189.68 was reached on 01/26/23, a 52-week low of $131.72 was recorded on 02/22/23. SMA at 50 days reached $173.42, while 200 days put it at $165.58. A total of 5.33 million shares were traded, compared to the trading of 6.45 million shares in the previous session.

Levels Of Support And Resistance For CVX Stock

The 24-hour chart illustrates a support level at 160.17, which if violated will result in even more drops to 157.94. On the upside, there is a resistance level at 163.62. A further resistance level may holdings at 164.84. The Relative Strength Index (RSI) on the 14-day chart is 37.36, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -5.69, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 77.39%. Stochastics %K at 17.14% indicates the stock is a buying.

How much short interest is there in Chevron Corporation?

A steep rise in short interest was recorded in Chevron Corporation stocks on Jan 12, 2023, dropping by -3.2 million shares to a total of 15.34 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 18.54 million shares. There was a decline of -20.86%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.79% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.11.

Chevron Corporation [CVX] – Who Are The Largest Shareholders?

In filings from Berkshire Hathaway, Inc., it is revealed that the company now owns 162,975,771 shares, or roughly 8.43% of the outstanding CVX shares. In other words, the investor’s shares have fallen by -2,383,547 from its previous 13-F filing of 165359318.0. Additionally, The Vanguard Group, Inc. decreased -0.23% of its stake after which the total value it holdings stand at $26,388,812,884, while SSgA Funds Management, Inc. reduced -1.45% of its stake to hold $22.22 billion in the firm. Over the last quarter, BlackRock Fund Advisors purchased 343,233 shares of Chevron Corporation, while Geode Capital Management LLC bought -344,388 shares. At present, Capital Research & Management Co is holding 21,749,142 shares valued at $3.78 billion. Northern Trust Investments, Inc. owned 21,522,441 shares of the company at the time of its most recent 13F filing, worth $3.75 billion.

According to FactSet, Chevron Corporation’s share price will average $192.17 in the next year, based on opinions of analysts polled by the firm. This is up nearly 20.42 percent from its previous closing price of $161.93. Analysts expect Chevron Corporation stock to reach the higher price of $215.00, while the lowest price estimate is $161.00. However, 27 analysts have rated CVX stock as an Overweight in their predictions for 2023. The most recent change occurred on October 19, 2022 when Jefferies began covering the stock and recommended ‘”a Hold”‘ rating .


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