The stock of Chevron Corporation (NYSE:CVX) hit a new 52-week high and has $149.31 target or 36.00% above today’s $109.79 share price. The 8 months bullish chart indicates low risk for the $210.68 billion company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $149.31 price target is reached, the company will be worth $75.84B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.50M shares traded hands. Chevron Corporation (NYSE:CVX) has risen 11.44% since April 15, 2016 and is uptrending. It has outperformed by 6.81% the S&P500.
Chevron Corporation (NYSE:CVX) Ratings Coverage
Out of 29 analysts covering Chevron Corporation (NYSE:CVX), 19 rate it a “Buy”, 0 “Sell”, while 10 “Hold”. This means 66% are positive. $122 is the highest target while $65 is the lowest. The $96.55 average target is -12.06% below today’s ($109.79) stock price. Chevron Corporation has been the topic of 52 analyst reports since August 4, 2015 according to StockzIntelligence Inc. On Friday, March 18 the stock rating was maintained by Goldman Sachs with “Neutral”. On Wednesday, December 16 the stock rating was upgraded by Argus Research to “Buy”. As per Friday, March 18, the company rating was initiated by Nomura. The company was upgraded on Tuesday, August 9 by PiperJaffray. Jefferies maintained the shares of CVX in a report on Monday, July 11 with “Buy” rating. The company was maintained on Wednesday, March 9 by Credit Suisse. The firm has “Hold” rating by S&P Research given on Tuesday, August 4. The rating was upgraded by Howard Weil on Monday, December 14 to “Sector Outperform”. The firm has “Neutral” rating given on Thursday, January 21 by Simmons & Co. The stock of Chevron Corporation (NYSE:CVX) has “Accumulate” rating given on Monday, September 21 by Tudor Pickering.
According to Zacks Investment Research, “Chevron is the fifth-largest integrated energy company in the world. Headquartered in San Ramon, California, and conducting business in approximately 180 countries, this highly competitive corporation is engaged in every aspect of the oil and natural gas industry, including exploration and production; refining, marketing and transportation; chemicals manufacturing and sales; and power generation.”
Insitutional Activity: The institutional sentiment decreased to 0.95 in 2016 Q2. Its down 0.27, from 1.22 in 2016Q1. The ratio is negative, as 51 funds sold all Chevron Corporation shares owned while 677 reduced positions. 71 funds bought stakes while 624 increased positions. They now own 1.15 billion shares or 3.23% less from 1.18 billion shares in 2016Q1.
Parsec Finance holds 1.54% of its portfolio in Chevron Corporation (NYSE:CVX) for 152,641 shares. Cleararc Incorporated last reported 0.93% of its portfolio in the stock. Meiji Yasuda Asset reported 44,329 shares or 0.67% of all its holdings. Dumont & Blake Invest Advsrs Limited Liability Corp accumulated 0.64% or 12,967 shares. Moreover, Spectrum has 0.21% invested in Chevron Corporation (NYSE:CVX) for 4,850 shares. Athena Global Investors accumulated 5.46% or 33,813 shares. South Texas Money Mngmt Ltd holds 1.86% or 315,864 shares in its portfolio. Old Mutual Global Invsts (Uk) accumulated 424,003 shares or 0.83% of the stock. Hartford Invest Com has 465,154 shares for 1.03% of their US portfolio. South Street Advsr Ltd Liability last reported 10,820 shares in the company. Tph Asset Mgmt Ltd Liability Corporation, a Texas-based fund reported 253,500 shares. Moreover, Cetera Advsr Lc has 0.51% invested in Chevron Corporation (NYSE:CVX) for 62,574 shares. Moreover, Diker Management Lc has 0.09% invested in Chevron Corporation (NYSE:CVX) for 2,156 shares. Salem Capital Management Incorporated reported 10,550 shares or 0.64% of all its holdings. Halbert Hargrove Russell Limited accumulated 0.15% or 4,936 shares.
Insider Transactions: Since August 1, 2016, the stock had 1 buying transaction, and 7 insider sales for $19.98 million net activity. Shares for $12.56 million were sold by Wirth Michael K. Breber Pierre R sold $315,750 worth of Chevron Corporation (NYSE:CVX) on Friday, November 4. The insider Deily Linnet F sold $593,387. Another trade for 10,945 shares valued at $1.11M was sold by JOHNSON JAMES WILLIAM. $711,893 worth of shares were sold by Ourada Jeanette L on Thursday, August 25. THULIN INGE G bought $50,096 worth of stock. On Friday, August 12 Geagea Joseph C sold $2.67M worth of the stock or 26,000 shares.
More important recent Chevron Corporation (NYSE:CVX) news were published by: Seekingalpha.com which released: “Why Chevron Is A Dangerous Investment” on November 15, 2016, also Forbes.com published article titled: “Chevron (CVX) Shares Cross 4% Yield Mark”, Fool.com published: “Chevron Corporation Upgraded: 3 Things You Need to Know” on October 31, 2016. More interesting news about Chevron Corporation (NYSE:CVX) was released by: Seekingalpha.com and their article: “Can Chevron Break Even In 2017?” with publication date: November 16, 2016.
CVX Company Profile
Chevron Corporation (Chevron), incorporated on January 27, 1926, manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in fully integrated petroleum operations, chemicals operations, mining activities, power generation and energy services. Upstream activities consist primarily of exploring for, developing and producing natural gas and crude oil; processing, liquefaction, transportation and regasification associated with liquefied natural gas; transporting crude oil by international oil export pipelines; transporting, storage and marketing of natural gas, and a gas-to-liquids project. Downstream activities consist primarily of refining crude oil into petroleum products; marketing of crude oil and refined products; transporting crude oil and refined products by pipeline, marine vessel, motor equipment and rail car, and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses and fuel and lubricant additives.
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