The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Chevron Corp. shares valued at $600,878 were sold by GUSTAVSON JEFF B on May 21 ’24. At $160.23 per share, GUSTAVSON JEFF B sold 3,750 shares. The insider’s holdings dropped to 477 shares worth approximately $74564.64 following the completion of this transaction.
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Also, HERNANDEZ ENRIQUE JR sold 2,549 shares, netting a total of over 421,207 in proceeds. Following the sale of shares at $165.24 each, the insider now holds 0 shares.
Before that, HERNANDEZ ENRIQUE JR had sold 5,098 shares from its account. In a trade valued at $833,523, the Director traded Chevron Corp. shares for $163.50 each. Upon closing the transaction, the insider’s holdings decreased to 5,098 shares, worth approximately $0.4 million.
As published in a research note from TD Cowen on April 29, 2024, Chevron Corp. [CVX] has been retained to a Hold and the price target has been revised to $160. Analysts at Scotiabank upgraded the stock from ‘”a Sector perform”‘ to ‘”a Sector outperform”‘ outlook in a report released in mid April. As of April 10, 2024, Barclays has initiated its “an Overweight” rating for CVX. Earlier on February 06, 2024, DZ Bank downgraded its rating. Their new recommendation was “a Hold” for CVX stock which previously was a “a Buy”.
Analyzing CVX Stock Performance
During the last five days, there has been a drop of approximately -0.20%. Over the course of the year, Chevron Corp. shares have jumped approximately 4.80%. Shares of the company reached a 52-week high of $167.11 on 04/29/24 and a 52-week low of $139.62 on 01/18/24. A 50-day SMA is recorded $159.34, while a 200-day SMA reached $154.84. Nevertheless, trading volume fell to 5.57 million shares from 8.64 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 155.66, which, if violated, would cause prices to drop to 154.99. In the upper region, resistance lies at 156.96. The next price resistance is at 157.60. RSI (Relative Strength Index) is 48.24 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.38, which suggests the price will increase in the coming days. Percent R is at 42.31%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
