In the last trading session, 3,210,000,000 shares of the Chevron Corporation (NYSE:CVX) were traded, and its beta was 1.32. Most recently the company’s share price was $103.58, and it changed around -$0.93 or -0.01% from the last close, which brings the market valuation of the company to $199.7 Billion. CVX currently trades at a discount to its 52-week high of $112.7, offering almost -8.8% off that amount. The share price’s 52-week low was $65.16, which indicates that the current value has risen by an impressive 37.09% since then. We note from Chevron Corporation’s average daily trading volume that its 10-day average is 7.82 Million shares, with the 3-month average coming to 11.51 Million.
Chevron Corporation stock received a consensus recommendation rating of Overweight, based on a mean score of 2.2. If we narrow it down even further, the data shows that none out of 30 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 13 recommended CVX as a Hold, whereas 16 deemed it a Buy, and no one rated it as Underweight. Chevron Corporation is expected to report earnings per share of $0.94 for the current quarter.
Chevron Corporation (NYSE:CVX): Trading Information
Although CVX has showed a red trend with a performance of -0.89% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $106.8 on Tuesday, Mar 30 increased the stock’s daily price by 3.04%. The company’s shares are currently up 0.23% year-to-date, but still down -0.0312 over the last five days. On the other hand, Chevron Corporation (NYSE:CVX) is -0.05% down in the 30-day period. We can see from the shorts that 22.85 Million shares have been sold at a short interest cover period of 1.99 day (s).
The consensus price target as assigned by Wall Street analysts is $119.71, which translates to bears needing to increase their stock price by 15.57% from its current value. Analyst projections state that CVX is forecast to be at a low of $91.5 and a high of $152. In order for the stock price to hit the forecast high, the stock would need to surge +46.75% from its current level, while the stock would need to crash -11.66% from its current level to reach the projected low.
Chevron Corporation (CVX) projections and forecasts
Chevron Corporation share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +45.5 percent over the past six months and at a -2620% annual growth rate that is well below the industry average of 26%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -27.1% in revenue this quarter, and will report an increase of 181.8% in the next quarter. The year-over-year growth rate is expected to be 42.8%, up from the previous year.
Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $30.32 Billion in revenue for the current quarter. 5 analysts expect Chevron Corporation to make $32.21 Billion in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarters a year ago were $31.5 Billion and $22.1 Billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -3.8%. Forecasts for the next quarter put sales growth at 45.8%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -26.2%. Chevron Corporation earnings are expected to decrease by -291.9% in 2021, but the outlook is negative -4.9% per year for the next five years.
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CVX Dividend Yield
Chevron Corporation’s next quarterly earnings report is expected to be released around April 30, 2021. The annual dividend yield of the stock is 4.94 percent and its annual dividend per share was $5.16. It is important to note, however, that the 4.94% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 4.35% per year.
Chevron Corporation (NYSE:CVX)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 0.04% of Chevron Corporation shares, and 67.56% of them are in the hands of institutional investors. The stock currently has a share float of 67.58%. Chevron Corporation stock is held by 3004 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Dec 30, 2020, it held 8.19% of the shares, which is about 157.79 Million shares worth $13.33 Billion.
State Street Corporation, with 6.64% or 127.92 Million shares worth $10.8 Billion as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Select Sector SPDR Fund-Energy Select were the top two Mutual Funds as of Dec 30, 2020. The former held 54236639 shares worth $4.58 Billion, making up 2.82% of all outstanding shares. On the other hand, Select Sector SPDR Fund-Energy Select held roughly 42.87 Million shares worth around $4.29 Billion, which represents about 2.23% of the total shares outstanding.