Chevron Corporation (NYSE: CVX) stock fell -0.08% on Friday to $154.89 against a previous-day closing price of $155.01. With 6.96 million shares changed hands, the volume of the stock remained lighter than its average volume of 9.32 million shares. During the session, the Oil & Gas Integrated company that operates in wider Energy sector, reached to the highest price of $158.28 whereas the lowest price it dropped to was $154.74. The 52-week range on CVX shows that it touched its highest point at $182.40 and its lowest point at $96.24 during that stretch. It currently has a 1-year price target of $182.13. With its current market cap of 311.27 billion, CVX has annualized dividend of $5.68 while the current yield stands at 3.67%. Beta for the stock currently stands at 1.13.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CVX was down-trending over the past week, with a drop of -3.57%, but this was down by -4.38% over a month. Three-month performance surged to 8.75% while six-month performance fell -6.61%. The stock gained 58.63% in the past year, while it has gained 31.99% so far this year. A look at the trailing 12-month EPS for CVX yields 14.97 with Next year EPS estimates of 16.99. For the next quarter, that number is 5.16. This implies an EPS growth rate of 374.50% for this year and -10.62% for next year. EPS is expected to grow by 13.82% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 100.80%.
Float and Shares Shorts:
At present, 1.96 billion CVX shares are outstanding with a float of 1.96 billion shares on hand for trading. On Jul 14, 2022, short shares totaled 19.9 million, which was 1.01% higher than short shares on Jun 14, 2022. In addition to Mr. Michael K. Wirth as the firm’s Chairman & CEO, Mr. Pierre R. Breber serves as its VP & CFO.
Through their ownership of 71.86% of CVX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 38.20% of CVX, in contrast to 33.43% held by mutual funds. Shares owned by individuals account for 0.09%. As the largest shareholder in CVX with 8.25% of the stake, Berkshire Hathaway, Inc. holds 161,440,149 shares worth 161,440,149. A second-largest stockholder of CVX, The Vanguard Group, Inc., holds 156,107,076 shares, controlling over 7.98% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in CVX, holding 137,216,495 shares or 7.01% stake. With a 2.68% stake in CVX, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 52,352,474 shares are owned by the mutual fund manager. The SPDR Series – Energy Select Secto, which owns about 2.48% of CVX stock, is the second-largest Mutual Fund holder. It holds 48,495,119 shares valued at 7.67 billion. Vanguard 500 Index Fund holds 2.24% of the stake in CVX, owning 43,849,234 shares worth 6.93 billion.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CVX since 29 analysts follow the stock currently. There are 14 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 12 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CVX analysts setting a high price target of $202.00 and a low target of $150.00, the average target price over the next 12 months is $180.30. Based on these targets, CVX could surge 30.42% to reach the target high and fall by -3.16% to reach the target low. Reaching the average price target will result in a growth of 16.41% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CVX will report FY 2022 earnings on 01/27/2023. Analysts have provided yearly estimates in a range of $21.21 being high and $14.57 being low. For CVX, this leads to a yearly average estimate of $18.73. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Chevron Corporation surprised analysts by $0.73 when it reported $5.82 EPS against a consensus estimate of $5.09. The surprise factor in the prior quarter was -$0.04. Based on analyst estimates, the high estimate for the next quarter is $5.97 and the low estimate is $3.43. The average estimate for the next quarter is thus $4.95.
Summary of Insider Activity:
Insiders traded CVX stock several times over the past three months with 3 Buys and 3 Sells. In these transactions, 56,432 shares were bought while 56,432 shares were sold. The number of buy transactions has increased to 158 while that of sell transactions has risen to 119 over the past year. The total number of shares bought during that period was 2,619,959 while 2,612,752 shares were sold.