In the last trading session, 6.04 million Chevron Corporation (NYSE:CVX) shares changed hands as the company’s beta touched 1.11. With the company’s per share price at $147.32 changed hands at -$1.16 or -0.78% during last session, the market valuation stood at $291.89B. CVX’s last price was a discount, traded about -23.81% off its 52-week high of $182.40. The share price had its 52-week low at $92.86, which suggests the last value was 36.97% up since then. When we look at Chevron Corporation’s average trading volume, we note the 10-day average is 7.65 million shares, with the 3-month average coming to 10.80 million.
Analysts gave the Chevron Corporation (CVX) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.30. If we narrow down to specifics, the data shows that 1 out of 29 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 13 recommended CVX as a Hold, 13 felt it is a Buy and 0 rated the stock as Underweight. Chevron Corporation’s EPS for the current quarter is expected to be $4.51.
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Instantly CVX was in red as seen at the end of in last trading. With action 1.87%, the performance over the past five days has been green. The drop to weekly highs of 150.68 on Tuesday, 07/26/22 subtracted -0.78% to the stock’s daily price. The company’s shares are showing year-to-date upside of 25.54%, with the 5-day performance at 1.87% in the green. However, in the 30-day time frame, Chevron Corporation (NYSE:CVX) is 1.76% up. Looking at the short shares, we see there were 22.39 million shares sold at short interest cover period of 2.19 days.
The consensus price target for the stock as assigned by Wall Street analysts is $177.76, meaning bulls need an upside of 17.12% from its current market value. According to analyst projections, CVX’s forecast low is $150.00 with $210.00 as the target high. To hit the forecast high, the stock’s price needs a -42.55% plunge from its current level, while the stock would need to soar -1.82% for it to hit the projected low.
Chevron Corporation (CVX) estimates and forecasts
Data shows that the Chevron Corporation share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 15.84% over the past 6 months, a 119.93% in annual growth rate that is considerably higher than the industry average of -1.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2022 revenue estimates. The rating firms predict current quarter revenue for Chevron Corporation will rise 163.70%, while the growth in revenue is estimated to hit 53.40% for the next quarter. Year-over-year growth is forecast to reach 34.90% up from the last financial year.
Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $55.23 billion. 4 analysts are of the opinion that Chevron Corporation’s revenue for the quarter ending Sep 2022 will be $56.36 billion. The company’s revenue for the corresponding quarters a year ago was $35.94 billion and $40.52 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 53.70%. The estimates for the next quarter sales put growth at 39.10%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 100.80%. The 2022 estimates are for Chevron Corporation earnings to increase by 374.50%, but the outlook for the next 5-year period is at 24.14% per year.
Chevron Corporation is expected to release its next quarterly earnings report between April 28 and May 02. The 3.86% annual yield figure for the share gives it an annual dividend of 5.68. It is important to note, however, that the 3.86% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Chevron Corporation (NYSE:CVX)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.07% of Chevron Corporation shares while 65.88% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 65.92%. There are 65.88% institutions holding the Chevron Corporation stock share, with Vanguard Group, Inc. (The) the top institutional holder. As of Dec 30, 2021, the company held 8.32% of the shares, roughly 163.4 million CVX shares worth $19.18 billion.
State Street Corporation holds the second largest percentage of outstanding shares, with 7.07% or 138.9 million shares worth $16.3 billion as of Dec 30, 2021.
Among Mutual Funds, the top two as of Dec 30, 2021 were Vanguard Total Stock Market Index Fund and Select Sector SPDR Fund-Energy Select. With 54.78 million shares estimated at $6.43 billion under it, the former controlled 2.79% of total outstanding shares. On the other hand, Select Sector SPDR Fund-Energy Select held about 2.61% of the shares, roughly 51.25 million shares worth around $6.73 billion.