Wall Street analysts have assigned a consensus price target of $185.52 to the stock, which implies a rise of 10.25% to its current value. Analysts have been projecting $165.00 as a low price target for the stock while placing it at a high target of $209.00. It follows that stock’s current price would drop -25.53% in reaching the projected high whereas dropping to the targeted low would mean a gain of 0.9% for stock’s current value.

Chevron Corporation (CVX) estimates and forecasts

Statistics highlight that Chevron Corporation is scoring comparatively lower than the scores of other players of the relevant industry. The company added 7.91% of value to its shares in past 6 months, showing an annual growth rate of -29.74% while that of industry is -12.30. Apart from that, the company came lowering its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to decrease by -45.00% in the current quarter and calculating -22.70% decrease in the next quarter. This year revenue growth is estimated to fall -26.40% from the last financial year’s standing.

7 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $44.18 billion for the same. And 7 analysts are in estimates of company making revenue of $46.14 billion in the next quarter that will end on Dec 2023. Company posted $58.22 billion and $56.47 billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -24.10% while estimating it to be -18.30% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 37.10% during past 5 years. In 2023, company’s earnings growth rate is likely to be around 124.60% while estimates for its earnings growth in next 5 years are of -7.68%.

CVX Dividends

Chevron Corporation is more likely to be releasing its next quarterly report in October and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Chevron Corporation (NYSE:CVX)’s Major holders

Insiders are in possession of 0.04% of company’s total shares while institution are holding 72.58 percent of that, with stock having share float percentage of 72.61%. Investors also watch the number of corporate investors in a company very closely, which is 72.58% institutions for Chevron Corporation that are currently holding shares of the company. Vanguard Group Inc is the top institutional holder at CVX for having 161.47 million shares of worth $25.41 billion. And as of Jun 29, 2023, it was holding 8.65% of the company’s outstanding shares.

The second largest institutional holder is Blackrock Inc., which was holding about 124.71 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 6.68% of outstanding shares, having a total worth of $19.62 billion.

On the other hand, Vanguard Total Stock Market Index Fund and Select Sector SPDR Fund-Energy Select are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 56.12 million shares of worth $8.83 billion or 3.01% of the total outstanding shares. The later fund manager was in possession of 42.29 million shares on Jul 30, 2023, making its stake of worth around $6.92 billion in the company or a holder of 2.27% of company’s stock.