Chevron Corporation (NYSE:CVX) has a beta value of 1.19 and has seen 2.1 million shares traded in the recent trading session. The company, currently valued at $345.66B, closed the recent trade at $179.64 per share which meant it lost -$1.02 on the day or -0.56% during that session. The CVX stock price is -5.59% off its 52-week high price of $189.68 and 31.62% above the 52-week low of $122.84. If we look at the company’s 10-day average daily trading volume, we find that it stood at 8.06 million shares traded. The 3-month trading volume is 7.82 million shares.
The consensus among analysts is that Chevron Corporation (CVX) is an Overweight stock at the moment, with a recommendation rating of 2.50. 2 analysts rate the stock as a Sell, while 2 rate it as Overweight. 14 out of 29 have rated it as a Hold, with 11 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $4.81.
Chevron Corporation (NYSE:CVX) trade information
Sporting -0.56% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Monday, 01/23/23 when the CVX stock price touched $179.64 or saw a rise of 1.59%. Year-to-date, Chevron Corporation shares have moved 0.65%, while the 5-day performance has seen it change 1.75%. Over the past 30 days, the shares of Chevron Corporation (NYSE:CVX) have changed 4.63%. Short interest in the company has seen 17.62 million shares shorted with days to cover at 1.7.
Wall Street analysts have a consensus price target for the stock at $192.69, which means that the shares’ value could jump 6.77% from the levels at last check today. The projected low price target is $161.00 while the price target rests at a high of $215.00. In that case, then, we find that the latest price level in today’s session is -19.68% off the targeted high while a plunge would see the stock lose 10.38% from the levels at last check today.
Chevron Corporation (CVX) estimates and forecasts
Figures show that Chevron Corporation shares have outperformed across the wider relevant industry. The company’s shares have gained 25.29% over the past 6 months, with this year growth rate of 132.60%, compared to 23.10% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 62.50% and 64.50% for the next quarter. Revenue growth from the last financial year stood is estimated to be 44.00%.
5 analysts offering their estimates for the company have set an average revenue estimate of $58.22 billion for the current quarter. 5 have an estimated revenue figure of $53.79 billion for the next quarter concluding in Dec 2022. Year-ago sales stood $40.52 billion and $48.13 billion respectively for this quarter and the next, and analysts expect sales will grow by 43.70% for the current quarter and 11.80% 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 2023 is a modest 374.50% while over the next 5 years, the company’s earnings are expected to increase by 14.68%.
Chevron Corporation is expected to release its next earnings report between January 26 and January 30 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 3.14%. The company’s dividend yield has gone up over the past 12 months.
Chevron Corporation (NYSE:CVX)’s Major holders
Insiders own 0.08% of the company shares, while shares held by institutions stand at 71.60% with a share float percentage of 71.66%. Investors are also buoyed by the number of investors in a company, with Chevron Corporation having a total of 3,637 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 163.92 million shares worth more than $23.73 billion. As of Jun 29, 2022, Vanguard Group, Inc. (The) held 8.34% of shares outstanding.
The other major institutional holder is Berkshire Hathaway, Inc, with the holding of over 161.44 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $23.37 billion and represent 8.22% 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 Jun 29, 2022, the former fund manager holds about 2.65% shares in the company for having 52.07 million shares of worth $7.54 billion while later fund manager owns 45.64 million shares of worth $6.56 billion as of Sep 29, 2022, which makes it owner of about 2.32% of company’s outstanding stock.