CVX Stock Summary and Trading Ideas (Chevron | NYSE:CVX)

Chevron is an integrated energy company with exploration, production, and refining operations worldwide. It is the second-largest oil company in the United States with production of 3.1 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.8 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the US and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2023 stood at 11.1 billion barrels of oil equivalent, including 6.0 billion barrels of liquids and 30.4 trillion cubic feet of natural gas.

Chevron trades on the NYSE stock market under the symbol CVX.

As of April 18, 2024, CVX stock price climbed to $157.57 with 4,608,566 million shares trading.

CVX has a beta of 0.60, meaning it tends to be less sensitive to market movements. CVX has a correlation of 0.10 to the broad based SPY ETF.

CVX has a market cap of $291.08 billion. This is considered a Mega Cap stock.

Last quarter Chevron reported $47 billion in Revenue and $3.45 earnings per share. This fell short of revenue expectation by $-4 billion and exceeded earnings estimates by $.24.

In the last 3 years, CVX stock traded as high as $189.68 and as low as $92.86.

The top ETF exchange traded funds that CVX belongs to (by Net Assets): VTI, VOO, XLE, SPY, IVV.

CVX stock has underperformed the market in the last year with a return of -4.2%, while SPY returned +22.3%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in CVX shares. However, CVX has outperformed the market in the last 3 month and 2 week periods, returning +11.2% and -1.8%, while SPY returned +6.1% and -3.8%, respectively. This indicates CVX has been having a stronger performance recently.

CVX support price is $154.83 and resistance is $157.97 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CVX stock will trade within this expected range on the day.