Chevron Corporation (NYSE:CVX) shares, rose in value on Thursday, May 25, with the stock price down by -1.25% to the previous day’s close as strong demand from buyers drove the stock to $155.31.
Actively observing the price movement in the recent trading, the stock is buoying the session at $157.27, falling within a range of $156.29 and $158.57. The value of beta (5-year monthly) is 1.16 whereas the PE ratio is 8.50 over 12-month period. Referring to stock’s 52-week performance, its high was $189.68, and the low was $132.54. On the whole, CVX has fluctuated by -6.43% over the past month.
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With the market capitalization of Chevron Corporation currently standing at about $295.56 billion, investors are eagerly awaiting this quarter’s results, scheduled for Jul 27, 2023 – Jul 31, 2023. The company’s Forward Dividend Ratio is 6.04, with its dividend yield at 3.84%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $3.21, which is expected to increase to $4.99 for fiscal year $13.95 and then to about $14.65 by fiscal year 2024. Data indicates that the EPS growth is expected to be -25.90% in 2024, while the next year’s EPS growth is forecast to be 5.00%.
Analysts have estimated the company’s revenue for the quarter at $51.29 billion, with a low estimate of $41.6 billion and a high estimate of $56.85 billion. According to the average forecast, sales growth in current quarter could jump down -25.40%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $207.3 billion, representing a decrease of -15.80% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 3 upward and no downward review(s) in last seven days. We see that CVX’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CVX currently trading nearly -1.92% and -4.10% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 42.41, while the 7-day volatility ratio is showing 1.83% which for the 30-day chart, stands at 1.96%. Furthermore, Chevron Corporation (CVX)’s beta value is 1.17, and its average true range (ATR) is 3.39.
A comparison of Chevron Corporation (CVX) with its peers suggests the former has fared considerably weaker in the market. CVX showed an intraday change of -1.25% in today’s session so far, and over the past year, it shrunk by -10.04%%. On the other hand, the price of Exxon Mobil Corporation (XOM) has fallen -1.40% today. The stock, however, is off 12.38% from where it was a year ago. Additionally, there is a loss of -1.69% for Shell plc (SHEL) in recent trading while the stock has seen an overall depriciation of -2.34%% over the past year. The PE ratio stands at 8.50 for Chevron Corporation, and 7.28 for Exxon Mobil Corporation. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 0.69%. Meanwhile, the Dow Jones Industrial Slipped by -0.32%.
Data on historical trading for Chevron Corporation (NYSE:CVX) indicates that the trading volumes over the past 10 days have averaged 7.46 million and over the past 3 months, they’ve averaged 7.78 million. According to company’s latest data on outstanding shares, there are 1.89 billion shares outstanding.
Nearly 0.04% of Chevron Corporation’s shares belong to company insiders and institutional investors own 72.00% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 14.21 million shares as on Apr 27, 2023, resulting in a short ratio of 2.07. According to the data, the short interest in Chevron Corporation (CVX) stood at 0.75% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 13.99 million. The stock has fallen by -13.47% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CVX stock heading into the next quarter.