Chevron Corp. (NYSE:CVX) shares, rose in value, with the stock price up by 0.57% to the previous day’s close as strong demand from buyers drove the stock to $161.60.
Actively observing the price movement in the last trading, the stock closed the session at $160.69. The value of beta (5-year monthly) was 1.13 whereas the PE ratio was 14.24 over 12-month period. Referring to stock’s 52-week performance, its high was $172.88, and the low was $139.62. On the whole, CVX has fluctuated by 8.95% over the past month.
With the market capitalization of Chevron Corp. currently standing at about $300.13 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 26, 2024. The company’s Forward Dividend Ratio is 6.16, with its dividend yield at 3.81%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $2.98, which is expected to increase to $3.45 for fiscal year $12.65 and then to about $14.45 by fiscal year 2025. Data indicates that the EPS growth is expected to be -3.70% in 2025, while the next year’s EPS growth is forecast to be 14.20%.
Analysts have estimated the company’s revenue for the quarter at $51.15 billion, with a low estimate of $47.74 billion and a high estimate of $53.53 billion. According to the average forecast, sales growth in current quarter could jump up 0.70%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $197.15 billion, representing a decrease of -1.90% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that CVX’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CVX currently trading nearly 3.92% and 5.56% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 71.68, while the 7-day volatility ratio is showing 1.32% which for the 30-day chart, stands at 1.29%. Furthermore, Chevron Corp. (CVX)’s beta value is 1.12, and its average true range (ATR) is 2.23.
A comparison of Chevron Corp. (CVX) with its peers suggests the former has fared considerably weaker in the market. CVX showed an intraday change of 0.57% in last session, and over the past year, it shrunk by -4.40%%.
Data on historical trading for Chevron Corp. (NYSE:CVX) indicates that the trading volumes over the past 10 days have averaged 7.45 million and over the past 3 months, they’ve averaged 8.72 million. According to company’s latest data on outstanding shares, there are 1.87 billion shares outstanding.
Nearly 0.03% of Chevron Corp.’s shares belong to company insiders and institutional investors own 73.33% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 51.81 million shares as on Mar 15, 2024, resulting in a short ratio of 5.64. According to the data, the short interest in Chevron Corp. (CVX) stood at 2.79% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 53.05 million. The stock has risen by 8.34% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CVX stock heading into the next quarter.
