Chevron Corp. (NYSE: CVX) Loses -10.02% From High. Why That Could Change?

Currently, there are 1.87B common shares owned by the public and among those 1.86B shares have been available to trade.

The company’s stock has a 5-day price change of 3.78% and 7.57% over the past three months. CVX shares are trading 4.28% year to date (YTD), with the 12-month market performance up to 1.14% higher. It has a 12-month low price of $139.62 and touched a high of $172.88 over the same period. CVX has an average intraday trading volume of 9.01 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.94%, 3.73%, and 0.58% respectively.

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Institutional ownership of Chevron Corp. (NYSE: CVX) shares accounts for 73.36% of the company’s 1.87B shares outstanding.

It has a market capitalization of $288.90B and a beta (3y monthly) value of 1.12. The stock’s trailing 12-month PE ratio is 13.71, while the earnings-per-share (ttm) stands at $11.35. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.52% over the week and 1.69% over the month.

Analysts forecast that Chevron Corp. (CVX) will achieve an EPS of $2.94 for the current quarter, $2.97 for the next quarter and $14.83 for 2025. The lowest estimate earnings-per-share for the quarter is $2.54 while analysts give the company a high EPS estimate of $3.53. Comparatively, EPS for the current quarter was $3.55 a year ago. Earnings per share for the fiscal year are expected to decrease by -4.88%, and 10.37% over the next financial year. EPS should shrink at an annualized rate of -5.00% over the next five years, compared to 7.97% over the past 5-year period.

Looking at the support for the CVX, a number of firms have released research notes about the stock. DZ Bank stated their Hold rating for the stock in a research note on February 06, 2024, with the firm’s price target at $160. TD Cowen coverage for the Chevron Corp. (CVX) stock in a research note released on January 23, 2024 offered a Market Perform rating with a price target of $150. Scotiabank was of a view on January 16, 2024 that the stock is Sector Perform, while Jefferies gave the stock Buy rating on January 08, 2024, issuing a price target of $184. Bernstein on their part issued Outperform rating on November 02, 2023.

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