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 $3,343,281 were sold by MORRIS RHONDA J on Feb 07. At $170.00 per share, MORRIS RHONDA J sold 19,666 shares. The insider’s holdings dropped to 3,967 shares worth approximately $0.61 million following the completion of this transaction.
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Also, JOHNSON JAMES WILLIAM sold 37,300 shares, netting a total of over 6,800,230 in proceeds. Following the sale of shares at $182.31 each, the insider now holds 0 shares.
Before that, JOHNSON JAMES WILLIAM had sold 2,900 shares from its account. In a trade valued at $527,146, the Executive Vice President traded Chevron Corporation shares for $181.77 each. Upon closing the transaction, the insider’s holdings decreased to 2,900 shares, worth approximately $0.0.
As published in a research note from Mizuho on January 10, 2023, Chevron Corporation [CVX] has been rated down from a Buy to a Neutral and the price target has been revised to $200 from $185. This represents a 22.86% premium over Thursday’s closing price. Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early January. As of December 14, 2022, Exane BNP Paribas has decreased its “Neutral” rating to a “an Underperform” for CVX. Earlier on October 24, 2022, HSBC Securities downgraded its rating. Their new recommendation was “a Hold” for CVX stock which previously was a “a Buy”.
Analyzing CVX Stock Performance
On Thursday, Chevron Corporation [NYSE: CVX] rose 0.32% to $154.29. The stock’s lowest price that day was $149.91, but it reached a high of $155.465 in the same session. During the last five days, there has been a drop of approximately -3.88%. Over the course of the year, Chevron Corporation shares have dropped approximately -14.04%. Shares of the company reached a 52-week high of $187.81 on 01/26/23 and a 52-week low of $149.91 on 03/16/23. A 50-day SMA is recorded $169.68, while a 200-day SMA reached $164.95. Nevertheless, trading volume fell to 12.8 million shares from 14.06 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 150.98, which, if violated, would cause prices to drop to 147.67. In the upper region, resistance lies at 156.53. The next price resistance is at 158.78. RSI (Relative Strength Index) is 32.42 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.72, which suggests the price will decrease in the coming days. Percent R is at 74.07%, 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 steep in short interest on Jan 12, 2023 dropping by -3.2 million shares to 15.34 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 18.54 million shares. A decline of -20.86% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.11 of the overall float, the days-to-cover ratio (short ratio) decline to 2.11.
Which companies own the most shares of Chevron Corporation (CVX)?
According to Berkshire Hathaway, Inc. filings, the company currently owns 162,975,771 shares, which is about 8.55% of the total CVX shares outstanding. The investor’s shares have plunged by -2,383,547 from its previous 13-F filing of 165359318.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $24,379,550,899. SSgA Funds Management, Inc. reduced a -1.45% interest valued at $20.53 billion while BlackRock Fund Advisors purchased a 343,233 stake. A total of -344,388 shares of Chevron Corporation were bought by Geode Capital Management LLC during the quarter, and -693,432 were sold by Capital Research & Management Co. In its current portfolio, Northern Trust Investments, Inc. holds 21,522,441 shares valued at $3.46 billion.
In terms of Chevron Corporation share price expectations, FactSet research, analysts set an average price target of $190.79 in the next 12 months, up nearly 23.86% from the previous closing price of $153.80. Analysts anticipate Chevron Corporation stock to reach $215.00 by 2023, with the lowest price target being $161.00. In spite of this, 27 analysts ranked Chevron Corporation stock as an Overweight at the end of 2023.