Chevron stock: buy or sell

CVX stock price: $102.73 1.38% At close on Apr 21st, 2021

Updated on:
Apr 22nd, 2021

1

Chevron stock brief

  • Chevron closed on Wednesday at $102.73 after inching a 1.38%.
  • From the chart point view, price is drawing a scaled uptrend since October 2020 with higher tops and higher bottoms. This uptrend marked a 62.24% gain
  • Raymond James published a buy rating for Chevron on Tuesday, with a target of $120.00
  • Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream.

Should I buy Chevron stock?

Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best

Is $CVX stock a buy?

Currently, Chevron stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean we expect a selloff for $CVX in the next few days, or that it may not climb higher. Simply, it doesn't match our recommended trading systems

Should I sell Chevron stock?

"To sell or not to sell", if you are holding Chevron stock?. In the same way as when we have to buy shares, deciding when is appropiate to sell is not a whimsical decision, and we must adhere our own trading style. When selling, as well as buying, detailed strategies are very easy to use but are only applicable for selling shares you already own, not for selling short Chevron stock

As a golden rule, you should not mantain a trade that leads to greater losses than those expected by the time of the buy. When to sell your stock should always be dictated by the stop-loss (automatic or manual)

Is it time to sell Chevron stock?

Currently, Chevron stock doesn't match any of our preferred sell setups, so if you hold Chevron shares and your operation is in profit probably is not time to sell now

Chevron ratings

In the last month, 7 ratings were published for Chevron. General sentiment is bullish, with 5 out of 7 posting positive outlooks

Chevron analysts' ratings - Last month
Brokerage firmRating
Mar 23rd, 2021
Evercore ISI Buy
Raymond James Buy
Apr 1st, 2021
Piper Sandler Buy
Apr 6th, 2021
The Goldman Sachs Group Strong buyNeutral
Apr 13th, 2021
The Goldman Sachs Group Strong buyNeutral
Apr 14th, 2021
Raymond James Buy
Apr 20th, 2021
Raymond James Buy

Chevron stock analysis

Since in October 2020, Chevron has been drawing an uptrend that by now marked an amazing 62.24%. During this uptrend, the price provided some buy points on the breakouts. Latest low was last February, when price bounced at $83.39. Now, it swings in a consolidation between its last top ($112.70) and its last bottom ($83.39)

SMAs overview

CVX stock SMAs chart

Supports and resistances

The current resistances are:

  • R1: $103.21 (0.47% above)
  • R2: $103.30 (0.55% above)
  • R3: $103.41 (0.66% above)
  • The current support levels are:

  • S1: $102.47 (-0.25% below)
  • S2: $102.04 (-0.67% below)
  • S3: $100.95 (-1.73% below)
  • Bollinger bands

    The price is trading very close to the lower Bollinger band, signaling some level of oversold in recent sessions. This is not a buy point, as price can move in these levels for many days and weeks

    CVX stock Bollinger Bands chart

    Relative strength index

    The RSI dropped below the overbought level of 70 in mid-March after just crossing to the overbough zone for a single day (weak signal). The RSI value on Wednesday was 47.84. Since RSI lost the overbought zone, Chevron shares dropped a 6.82%

    CVX stock RSI chart

    Chevron stock price history

    Chevron IPO was on Jan 2nd, 1962 priced at $0.00 per share1. Since then, CVX stock surged by -, with an average of 0.00% per year. If you had invested thousand dollars in Chevron stock on Jan 1962, it would worth $inf today.

    1: Adjusted price after possible price splits or reverse-splits

    CVX stock price history chart

    Price target for Chevron stock

    How much a stock will be priced tomorrow or next week is quite unpredictable. However, many stock price forecasts are issued every day by banks, financial institutions and independent analysts.

    The following table shows the price predictions posted by brokerage institutions over the last 30 days. If you are a small trader you shouldn't invest based on these predictions.

    Averaging all price targets exposed below, the forecasted price for Chevron stock is $120.57. That is a 17.37% than the current price ($102.73).

    Chevron stock price predictions
    Brokerage firmPrice target
    Mar 23rd, 2021
    Evercore ISI $98.00$130.00
    Raymond James $112.00$122.00
    Apr 1st, 2021
    Piper Sandler $113.00$126.00
    Apr 6th, 2021
    The Goldman Sachs Group $117.00$113.00
    Apr 13th, 2021
    The Goldman Sachs Group $117.00$113.00
    Apr 14th, 2021
    Raymond James $122.00$120.00
    Apr 20th, 2021
    Raymond James $122.00$120.00

    Earnings and financials

    Chevron Corporation ($CVX) published earnings of $-0.01 per share last January, seriuosly worsening the Wall St consensus estimate of $0.07 per share. This Q4 report means an earnings surprise of -114.29%. Company's turnover resulted of $25.2 billion in contrast to $26.2 billion forecasted by analysts.

    In contrast, the EPS for the same quarter last year was $1.49, so reported EPS means a reduction of -100.67%. Looking at revenues, figures tanked a -28.15% compared to $345.7B same quarter a year ago.

    Chevron ($CVX) is hosting the earnings call on Friday next week. Wall Street expects of $0.95, compared to Q4 that was $-0.01.

    Chevron performance

    CVX performance compared
    Company1m3m6m
    Chevron ($CVX) 1.30% 11.00% 47.00%

    Disclaimer:
    The opinions expressed in this article are personal and not recommendations for you to buy or sell stocks. The author of this paper does not have any knowledge of the individual situations of the reader, his or her financial statements or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Thoughts are expressed for general educational motives only

    Chevron summary

    Wednesday, April 21st, 2021
    Open$100.33
    Close$102.73
    Day range$100.14 - $102.99
    Previous close$101.33
    Session gain1.38%
    Average true range$2.02
    50d mov avg$102.81
    100d mov avg$95.41
    200d mov avg$86.81
    Earnings dateApril 30th, 2021

    Frequently asked questions

    What is Chevron stock symbol?

    Chevron Corporation is a public company trading in the US stock market with the CVX symbol

    Is Chevron stock a buy or sell?

    Chevron received 7 ratings in the last 30 days: 5 bullish, 0 bearish and 2 neutral.

    Will CVX go up?

    Chevron had different price predictions issued by analysts in the last 4 weeks forecasting the target price to $120.57. That is a 17.37% than the current price ($102.73).