Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Chevron Corp. shares valued at $448,252 were sold by Knowles Alana K on Apr 02 ’24. At $160.09 per share, Knowles Alana K sold 2,800 shares. The insider’s holdings dropped to 276 shares worth approximately $44350.44 following the completion of this transaction.
Also, Breber Pierre R sold 25,000 shares, netting a total of over 4,100,000 in proceeds. Following the sale of shares at $164.00 each, the insider now holds 6,021 shares.
Before that, GUSTAVSON JEFF B had sold 3,750 shares from its account. In a trade valued at $603,300, the Vice President traded Chevron Corp. shares for $160.88 each. Upon closing the transaction, the insider’s holdings decreased to 3,750 shares, worth approximately $0.28 million.
As published in a research note from DZ Bank on February 06, 2024, Chevron Corp. [CVX] has been rated down from a Buy to a Hold and the price target has been revised to $160. Analysts at TD Cowen downgraded the stock from ‘”an Outperform”‘ to ‘”a Market perform”‘ outlook in a report released in late January. As of January 16, 2024, Scotiabank has decreased its “Sector outperform” rating to a “Sector perform” for CVX. Earlier on January 08, 2024, Jefferies upgraded its rating. Their new recommendation was “a Buy” for CVX stock which previously was a “a Hold”.
Analyzing CVX Stock Performance
During the last five days, there has been a surge of approximately 2.78%. Over the course of the year, Chevron Corp. shares have jumped approximately 7.73%. Shares of the company reached a 52-week high of $161.95 on 04/04/24 and a 52-week low of $139.62 on 01/18/24. A 50-day SMA is recorded $153.09, while a 200-day SMA reached $154.69. Nevertheless, trading volume fell to 9.26 million shares from 7.82 million shares the previous day.
Support And Resistance Levels for Chevron Corp. (CVX)
According to the 24-hour chart, there is a support level at 159.69, which, if violated, would cause prices to drop to 158.69. In the upper region, resistance lies at 161.82. The next price resistance is at 162.95. RSI (Relative Strength Index) is 69.75 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.34, which suggests the price will increase in the coming days. Percent R is at 16.17%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Chevron Corp. subject to short interest?
Stocks of Chevron Corp. saw a sharp steep in short interest on Mar 15, 2024 dropping by -1.24 million shares to 51.81 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 53.05 million shares. A decline of -2.39% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.64 of the overall float, the days-to-cover ratio (short ratio) decline to 5.64.
