Stock Mover of The Day: Is Chevron Corporation a Buy? The Stock Reaches 52-Week High Today

Stock Mover of The Day: Is Chevron Corporation a Buy? The Stock Reaches 52 Week High Today

The stock of Chevron Corporation (NYSE:CVX) hit a new 52-week high and has $121.23 target or 9.00% above today’s $111.22 share price. The 9 months bullish chart indicates low risk for the $209.96 billion company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $121.23 price target is reached, the company will be worth $18.90B 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 3.27 million shares traded hands. Chevron Corporation (NYSE:CVX) has risen 9.35% since April 25, 2016 and is uptrending. It has outperformed by 3.33% the S&P500.

Analysts await Chevron Corporation (NYSE:CVX) to report earnings on February, 3. They expect $0.71 EPS, up 329.03% or $1.02 from last year’s $-0.31 per share. CVX’s profit will be $1.34B for 39.18 P/E if the $0.71 EPS becomes a reality. After $0.68 actual EPS reported by Chevron Corporation for the previous quarter, Wall Street now forecasts 4.41% EPS growth.

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. Chevron Corporation has been the topic of 52 analyst reports since August 4, 2015 according to StockzIntelligence Inc. PiperJaffray upgraded the stock to “Overweight” rating in Tuesday, August 9 report. The stock of Chevron Corporation (NYSE:CVX) has “Neutral” rating given on Monday, August 24 by Bank of America. Credit Suisse maintained it with “Neutral” rating and $100 target price in Monday, November 2 report. Wolfe Research upgraded the shares of CVX in a report on Tuesday, September 29 to “Peer Perform” rating. Argus Research upgraded it to “Buy” rating and $100 target price in Wednesday, December 16 report. The stock has “Outperform” rating given by Credit Agricole on Tuesday, December 15. The firm has “Buy” rating given on Wednesday, December 2 by Citigroup. The rating was initiated by Nomura with “Neutral” on Friday, March 18. The rating was maintained by Barclays Capital on Monday, October 12 with “Equal-Weight”. The firm has “Overweight” rating by Morgan Stanley given on Tuesday, November 1.

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 increased to 1.07 in Q2 2016. Its up 0.12, from 0.95 in 2016Q1. The ratio is positive, 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.
Moreover, Ontario Teachers Pension Plan Board has 0.16% invested in Chevron Corporation (NYSE:CVX) for 132,738 shares. Blb&B Ltd Liability owns 70,979 shares or 1.4% of their US portfolio. Nomura Hldg accumulated 74,323 shares or 0.03% of the stock. Monarch Capital Mgmt Inc reported 23,952 shares or 0.93% of all its holdings. Financial Bank Of Hawaii last reported 70,035 shares in the company. Bryn Mawr Trust Co accumulated 0.5% or 74,931 shares. Wendell David Associate last reported 5,770 shares in the company. Pacad Ltd accumulated 17,901 shares or 0.26% of the stock. Mountain Pacific Invest Advisers Id has invested 0.19% of its portfolio in Chevron Corporation (NYSE:CVX). Logan Capital Mgmt Inc accumulated 201,298 shares or 1.78% of the stock. Foster Dykema Cabot & Commerce Ma holds 5,598 shares or 0.14% of its portfolio. The Tennessee-based Delta Asset Mngmt Ltd Liability Co Tn has invested 0.15% in Chevron Corporation (NYSE:CVX). Atalanta Sosnoff Capital Limited Liability holds 96,990 shares or 0.34% of its portfolio. Legal & General Group Incorporated Public Limited accumulated 1.11% or 10.04 million shares. Davidson Advisors last reported 151,104 shares in the company.

Insider Transactions: Since August 1, 2016, the stock had 1 insider purchase, and 9 selling transactions for $23.84 million net activity. Shares for $2.07M were sold by Breber Pierre R. JOHNSON JAMES WILLIAM had sold 10,945 shares worth $1.11M on Wednesday, August 10. THULIN INGE G also bought $50,096 worth of Chevron Corporation (NYSE:CVX) shares. Geagea Joseph C sold $2.67M worth of stock. $593,387 worth of shares were sold by Deily Linnet F on Thursday, November 3. $711,893 worth of shares were sold by Ourada Jeanette L on Thursday, August 25. Pate R. Hewitt sold $2.76M worth of stock.

Another recent and important Chevron Corporation (NYSE:CVX) news was published by Fool.com which published an article titled: “Chevron Corporation Upgraded: 3 Things You Need to Know” on October 31, 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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