Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Chevron Corp shares valued at $26,356,838 were sold by Wirth Michael K on Nov 14 ’24. At $160.13 per share, Wirth Michael K sold 164,600 shares. The insider’s holdings dropped to 4,280 shares worth approximately $0.6 million following the completion of this transaction.
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Also, MICHAEL K WIRTH purchased 164,600 shares, netting a total of over 26,125,312 in proceeds.
Before that, GUSTAVSON JEFF B had sold 3,750 shares from its account. In a trade valued at $600,878, the Vice President traded Chevron Corp shares for $160.23 each. Upon closing the transaction, the insider’s holdings decreased to 3,750 shares, worth approximately $67328.55.
As published in a research note from Citigroup on November 26, 2024, Chevron Corp [CVX] has been rated up from a Neutral to a Buy and the price target has been revised to $185 from $145. Analysts at DZ Bank upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early November.
Analyzing CVX Stock Performance
During the last five days, there has been a drop of approximately -8.76%. Over the course of the year, Chevron Corp shares have dropped approximately -5.37%. 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 $154.77, while a 200-day SMA reached $154.16. Nevertheless, trading volume fell to 16.43 million shares from 9.85 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 139.81, which, if violated, would cause prices to drop to 138.48. In the upper region, resistance lies at 143.62. The next price resistance is at 146.10. RSI (Relative Strength Index) is 21.89 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -9.74, which suggests the price will decrease in the coming days. Percent R is at 99.10%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
