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 $45617.28 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 Scotiabank on April 11, 2024, Chevron Corp. [CVX] has been rated up from a Sector perform to a Sector outperform and the price target has been revised to $195. Analysts at Barclays started covering the stock with ‘”an Overweight”‘ outlook in a report released in early April. As of February 06, 2024, DZ Bank has decreased its “Buy” rating to a “Hold” for CVX. Earlier on January 23, 2024, TD Cowen downgraded its rating. Their new recommendation was “a Market perform” for CVX stock which previously was a “an Outperform”.
Analyzing CVX Stock Performance
During the last five days, there has been a surge of approximately 4.89%. Over the course of the year, Chevron Corp. shares have jumped approximately 10.81%. Shares of the company reached a 52-week high of $165.60 on 04/25/24 and a 52-week low of $139.62 on 01/18/24. A 50-day SMA is recorded $156.21, while a 200-day SMA reached $155.12. Nevertheless, trading volume fell to 9.68 million shares from 7.61 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 163.43, which, if violated, would cause prices to drop to 161.59. In the upper region, resistance lies at 166.36. The next price resistance is at 167.45. RSI (Relative Strength Index) is 70.06 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.31, which suggests the price will increase in the coming days. Percent R is at 3.14%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
