Stock Worth Mentioning: Could Chevron Corporation See a Reversal After Breaking Its 52-Week High?

Stock Worth Mentioning: Could Chevron Corporation See a Reversal After Breaking Its 52 Week High?

The stock of Chevron Corporation (NYSE:CVX) hit a new 52-week high and has $176.53 target or 64.00% above today’s $107.64 share price. The 7 months bullish chart indicates low risk for the $204.04B company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $176.53 price target is reached, the company will be worth $130.59 billion 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. The stock increased 0.33% or $0.35 during the last trading session, hitting $107.64. About 8.47M shares traded hands or 17.80% up from the average. Chevron Corporation (NYSE:CVX) has risen 13.19% since April 7, 2016 and is uptrending. It has outperformed by 8.40% the S&P500.

Chevron Corporation (NYSE:CVX) Ratings Coverage

Out of 28 analysts covering Chevron Corporation (NYSE:CVX), 18 rate it a “Buy”, 0 “Sell”, while 10 “Hold”. This means 64% are positive. Chevron Corporation has been the topic of 51 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The stock of Chevron Corporation (NYSE:CVX) earned “Outperform” rating by Credit Agricole on Tuesday, December 15. Macquarie Research initiated it with “Underperform” rating and $65 target price in Wednesday, September 23 report. The stock of Chevron Corporation (NYSE:CVX) earned “Hold” rating by S&P Research on Tuesday, August 4. UBS maintained the shares of CVX in a report on Monday, August 3 with “Neutral” rating. On Monday, September 21 the stock rating was upgraded by Tudor Pickering to “Accumulate”. The company was maintained on Monday, May 2 by UBS. Credit Suisse maintained Chevron Corporation (NYSE:CVX) on Monday, November 2 with “Neutral” rating. As per Tuesday, March 22, the company rating was downgraded by Raymond James. The stock of Chevron Corporation (NYSE:CVX) earned “Buy” rating by Citigroup on Wednesday, December 2. Cowen & Co maintained Chevron Corporation (NYSE:CVX) rating on Tuesday, December 15. Cowen & Co has “Outperform” rating and $122 price target.

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 turned 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.
Sta Wealth Llc holds 0.1% of its portfolio in Chevron Corporation (NYSE:CVX) for 2,721 shares. The Texas-based American Retail Bank has invested 2.08% in Chevron Corporation (NYSE:CVX). Moreover, Kanaly Trust Co has 0.76% invested in Chevron Corporation (NYSE:CVX) for 35,760 shares. Chatham last reported 5,682 shares in the company. Levin Capital Strategies Lp holds 410,312 shares or 0.78% of its portfolio. Mercer Cap Advisers Incorporated has invested 1.31% of its portfolio in Chevron Corporation (NYSE:CVX). Moreover, Somerset Tru has 0.72% invested in Chevron Corporation (NYSE:CVX) for 11,139 shares. Credit Suisse Ag reported 6.52 million shares or 0.76% of all its holdings. Old Mutual Investors (Uk) Limited reported 424,003 shares or 0.83% of all its holdings. Sawtooth Asset Mngmt Inc has 0.22% invested in the company for 3,813 shares. Gateway Advisory Limited Liability Corp holds 0.14% of its portfolio in Chevron Corporation (NYSE:CVX) for 3,327 shares. Utd Fire Group Incorporated has 0.21% invested in the company for 5,000 shares. First Republic Investment Mgmt accumulated 1.49 million shares or 1.52% of the stock. The Nebraska-based First Financial Bank Of Omaha has invested 1.49% in Chevron Corporation (NYSE:CVX). Arcadia Invest Mgmt Mi holds 0.14% of its portfolio in Chevron Corporation (NYSE:CVX) for 4,128 shares.

Insider Transactions: Since August 1, 2016, the stock had 1 buy, and 7 insider sales for $19.98 million net activity. Shares for $12.56M were sold by Wirth Michael K. Breber Pierre R also sold $2.07 million worth of Chevron Corporation (NYSE:CVX) on Tuesday, August 2. Another trade for 5,637 shares valued at $593,387 was made by Deily Linnet F on Thursday, November 3. Geagea Joseph C sold $2.67M worth of Chevron Corporation (NYSE:CVX) on Friday, August 12. $711,893 worth of shares were sold by Ourada Jeanette L on Thursday, August 25. The insider THULIN INGE G bought 487 shares worth $50,096. 10,945 Chevron Corporation (NYSE:CVX) shares with value of $1.11 million were sold by JOHNSON JAMES WILLIAM.

More recent Chevron Corporation (NYSE:CVX) news were published by: Fool.com which released: “Chevron Corporation Upgraded: 3 Things You Need to Know” on October 31, 2016. Also Zacks.com published the news titled: “Chevron Corporation (CVX) Produces First Gas from Alder” on November 08, 2016. Investorplace.com‘s news article titled: “Chevron Corporation (CVX) Stock Is a Clear-Cut Dividend Buy” with publication date: October 24, 2016 was also an interesting one.

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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