Chevron Corporation (CVX) Stock Analysis – September 22, 2024
Company Overview
Chevron Corporation (CVX) is a prominent global energy player based in San Ramon, California, with a legacy dating back to 1879. Operating within the Oil & Gas Integrated industry, Chevron engages in the exploration, production, and transportation of crude oil and natural gas, as well as the refining of these resources into a range of petroleum products. The company’s commitment to innovation is also evident in its investments in renewable fuels and commodity petrochemicals, making it an attractive investment opportunity in the evolving energy market. Currently, Chevron reports a total revenue of approximately $195.15 billion, underscoring its strong financial performance and market presence.
Investment Analysis
Chevron’s stock currently trades at $145.68, sitting between its 52-week high of $171.70 and its low of $135.37. Analysts project a target high price of $196.00, indicating significant growth potential, with a target mean price of $172.74. These figures reflect a positive outlook for investors, suggesting that Chevron is well-positioned for future gains. Short interest stands at 2.87%, with approximately 52.13 million shares shorted, indicating a predominantly optimistic sentiment among investors regarding the company’s stock performance. The consensus among 23 analysts recommends a “buy,” with an average rating of 2.3, which points to confidence in Chevron’s growth trajectory while also addressing market volatility.
Market Performance and Recommendations
Chevron’s share structure includes approximately 1.81 billion shares outstanding, with 1.71 billion shares available for trading. This relatively low short interest suggests resilience in the market, and reflects investor confidence in Chevron’s operational stability. While earnings before interest, taxes, depreciation, and amortization (EBITDA) data is not available, the firm’s strong revenue figure and analyst recommendations paint a favorable picture for potential investors. For those considering investing in Chevron, the target high price of $196.00 and corresponding low price of $154.00 highlight a solid balance between upside potential and downside risk in a dynamic energy landscape.
| Metric | Value |
|---|---|
| Market Cap | $264.4b |
| Total Debt | $23.2b |
| Total Cash | $4.0b |
| Shares Outstanding | 1.8b |
| Float Shares | 1.7b |
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