Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Chevron Corp shares valued at $26,125,312 were purchased by MICHAEL K WIRTH on Nov 14 ’24. At $158.72 per share, MICHAEL K WIRTH acquired 164,600 shares.
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Also, GUSTAVSON JEFF B sold 3,750 shares, netting a total of over 600,878 in proceeds. Following the sale of shares at $160.23 each, the insider now holds 477 shares.
Before that, HERNANDEZ ENRIQUE JR had sold 2,549 shares from its account. In a trade valued at $421,207, the Director traded Chevron Corp shares for $165.24 each. Upon closing the transaction, the insider’s holdings decreased to 2,549 shares, worth approximately $0.0.
As published in a research note from DZ Bank on November 05, 2024, Chevron Corp [CVX] has been rated up from a Hold to a Buy and the price target has been revised to $170. Earlier on July 17, 2024, Bernstein downgraded its rating. Their new recommendation was “a Mkt 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 3.21%. Over the course of the year, Chevron Corp shares have jumped approximately 8.47%. Shares of the company reached a 52-week high of $167.11 on 04/29/24 and a 52-week low of $135.37 on 09/11/24. A 50-day SMA is recorded $148.93, while a 200-day SMA reached $153.58. Nevertheless, trading volume fell to 9.97 million shares from 8.82 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 160.38, which, if violated, would cause prices to drop to 158.95. In the upper region, resistance lies at 162.53. The next price resistance is at 163.25. RSI (Relative Strength Index) is 72.25 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.31, which suggests the price will increase in the coming days. Percent R is at 0.21%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
