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Weak Fundamental Momentum Sinks Chevron Corporation

Chevron Corporation (NYSE:CVX) has a beta value of 1.13 and has seen 8.93 million shares traded in the last trading session. The company, currently valued at $314.06B, closed the last trade at $156.28 per share which meant it lost -$0.62 on the day or -0.40% during that session. The CVX stock price is -16.71% off its 52-week high price of $182.40 and 40.29% above the 52-week low of $93.31. If we look at the company’s 10-day average daily trading volume, we find that it stood at 12.65 million shares traded. The 3-month trading volume is 9.43 million shares.

The consensus among analysts is that Chevron Corporation (CVX) is an Overweight stock at the moment, with a recommendation rating of 2.30. 1 analysts rate the stock as a Sell, while 2 rate it as Overweight. 12 out of 29 have rated it as a Hold, with 14 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $5.1.

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Chevron Corporation (NYSE:CVX) trade information

Sporting -0.40% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 09/20/22 when the CVX stock price touched $156.28 or saw a rise of 4.46%. Year-to-date, Chevron Corporation shares have moved 33.17%, while the 5-day performance has seen it change -1.96%. Over the past 30 days, the shares of Chevron Corporation (NYSE:CVX) have changed -0.89%. Short interest in the company has seen 19.9 million shares shorted with days to cover at 1.66.

Wall Street analysts have a consensus price target for the stock at $180.30, which means that the shares’ value could jump 13.32% from current levels. The projected low price target is $150.00 while the price target rests at a high of $202.00. In that case, then, we find that the current price level is -29.26% off the targeted high while a plunge would see the stock lose 4.02% from current levels.

Chevron Corporation (CVX) estimates and forecasts

Figures show that Chevron Corporation shares have outperformed across the wider relevant industry. The company’s shares have lost -5.08% over the past 6 months, with this year growth rate of 125.95%, compared to -2.90% for the industry. Other than that, the company has, however, increased its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are 198.20% and 73.60% for the next quarter. Revenue growth from the last financial year stood is estimated to be 43.60%.

5 analysts offering their estimates for the company have set an average revenue estimate of $59.29 billion for the current quarter. 5 have an estimated revenue figure of $60.85 billion for the next quarter concluding in Sep 2022. Year-ago sales stood $35.94 billion and $40.52 billion respectively for this quarter and the next, and analysts expect sales will grow by 65.00% for the current quarter and 50.20% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 100.80% over the past 5 years. Earnings growth for 2022 is a modest 374.50% while over the next 5 years, the company’s earnings are expected to increase by 13.82%.

CVX Dividends

Chevron Corporation is expected to release its next earnings report between April 28 and May 02 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 5.68 at a share yield of 3.63%. The company’s dividend yield has gone up over the past 12 months.

Chevron Corporation (NYSE:CVX)’s Major holders

Insiders own 0.07% of the company shares, while shares held by institutions stand at 71.86% with a share float percentage of 71.91%. Investors are also buoyed by the number of investors in a company, with Chevron Corporation having a total of 3,589 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 167.77 million shares worth more than $27.32 billion. As of Mar 30, 2022, Vanguard Group, Inc. (The) held 8.54% of shares outstanding.

The other major institutional holder is Berkshire Hathaway, Inc, with the holding of over 159.18 million shares as of Mar 30, 2022. The firm’s total holdings are worth over $25.92 billion and represent 8.10% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Select Sector SPDR Fund-Energy Select. As of Mar 30, 2022, the former fund manager holds about 2.86% shares in the company for having 56.22 million shares of worth $9.15 billion while later fund manager owns 49.58 million shares of worth $7.18 billion as of Jun 29, 2022, which makes it owner of about 2.52% of company’s outstanding stock.

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