Chevron Stock Forecast: Things are Good at New Highs

Chevron Stock Forecast: Things are Good at New Highs

Chevron Stock Forecast: The stock is expected to trade between $170and $215. The overall recommendation is Sell.

Chevron Stock Forecast: Latest Price

Chevron Stock Forecast: Performance Chart

Stock Name5 Days1 Month6 Months1 Year
CVX-1.3%+14.3%+10.8%+61.3%

Chevron Stock Forecast: Latest News

  • California county has finally settled with Chevron on the spill issue which happened in 2021. The settlement with Chevron by the Contra Costa District Attorney along with the California Department of Fish and Wildlife includes injunctive relief, civil penalties for wildlife funds, and enforcement costs, as per a release issued by the District Attorney’s Office.It was announced by the Contra Costa County District Attorney that a settlement was reached with Chevron Corp. The case revolved around the diesel spill into the San Francisco Bay. The financial statements of the settlement was not released and Chevron is yet to comment on this matter. The amount includes injunctive relief, civil penalties for wildlife funds, and enforcement costs
  • Joe Biden has informed that meeting with the oil companies has not been arranged yet. U.S. President Joe Biden said on Friday a meeting with oil companies has not been scheduled, after earlier saying he was planning to talk to the firms to complain about their record profits while gas prices remain high.

Chevron Stock Forecast: Today’s Outlook

IndicatorTrend
Overall OutlookNeutral
Market Data
Market CapHigher
TechnicalSell
Trading VolumeLower
Crowd’s Wisdom
Google Search VolumeLower
Social Media SentimentHigher

Also Read: MULN Stock Forecast 2022

Chevron Stock Forecast: Technical Analysis

Looking at the daily charts of Chevron, we can see that recently it has broken its all time high and is trading at new highs now. It has various amounts of good support levels at $180, $170 and $164 simultaneously signifying strong demand for the stock. The momentum it has gained has no reason to stop other than the fact that it come down to retest its level of $180 and then continue its rally. It can gain resistance around the zone of $200 which falls in sync with the long run upward trendline. It’s good for the long term investors to wait for a good price for entry if they are to be interested in the stock and sellers can only get interested if it breaks levels of $164. One has to be on the lookout of the falling Crude oil prices also in the coming quarter which can effect the earnings of the company in the coming times.

Chevron Stock Forecast: Chevron Q3 results 2022

Chevron on 28th of October released its third quarter earnings which was recorded as the second highest quarterly earnings of the company. This was mainly driven by the rise in global oil and gas demands and its rising production from the US oilfields.

The operating profit of the company’s oil and gas business went up till $9,3 billion which is around an 81% increase. Their oil refining business got doubles to $2.5 billion.

The third-quarter net profit came to be approximately to $11.2 billion ($5.78 per share). This data was well ahead of the Wall Street’s estimate of $4.86. The unusual surge comes as oil companies are booking heavy profits as oil prices are near record levels and also the disruption caused by the war in Ukraine.

Chevron’s cash flow from operations went up to $15.3 billion which is far greater than the second quarter gains. ROCE jumped to 25% as well. The profit the company had from refining slowed a bit as compared to the second quarter which in turn kept the overall company’s earning below the all time high of $11.6 billion.

Chevron Stock Forecast: Energy ETFs which includes Chevron

ETF Name
XLE ETF
IEO ETF

Chevron Stock Forecast: Stock Dividend

Chevron is expected to survive all economic and demand situations – even with the world planning reducing the use of fossil fuels, the profit per barrel remains high. It is expected to offer a dividend yield of 3.9%. In January, a quarterly dividend of $1.4 per share was announced showing an increase of $0.1 i.e. 6%

Ex/Eff DateTypeCash AmountDeclaration DateRecord DatePayment Date
05/2022CASH$1.404/202205/202206/2022
02/2022CASH$1.401/202202/202203/2022
11/2021CASH$1.310/202111/102112/2021
08/2021CASH$1.307/202108/202109/2021
05/2021CASH$1.304/202105/202106/2021
02/2021CASH$1.301/202102/202103/2021

Chevron Stock Forecast: Latest Video

YouTube video

Chevron Stock Forecast: Technical Analysis

Chevron Stock Forecast

– Nandini Panchal

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions