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- 1 Chevron stock price showed a bearish trend in yesterday’s trading session.
- 2 Recent one week analysis showed little rise in its trading price.
Chevron stock price experienced bearish sentiments in its recent day of trading, which opposes its recent 5-days of performance. The stock traded nearly at $168.22 which was above its 200-day moving average when the company released its Q1 2023 earnings and revenue reports. While CVX dividends, which are paid quarterly, the stock was trading nearly at $151.00.
Chevron Corporation has a market cap of $301.70 Billion, and its total revenue for the last quarter is $48.94 Billion. The total revenue is 9.84% lower as compared to the last quarter. The net income of Q1 23 is $6.57 Billion.
Chevron Stock Price Analysis
Chevron (NYSE: CVX) stock price lost nearly $0.38 and closed at the trading price of $158.86 with 0.24% of drop on June 9th, yesterday. The stock opened at $159.28 marked high at $160.39 while low was at $158.62 in yesterday’s trading session. Moreover, the 52-week high that the stock noted was at $189.68 with 52-week low at $132.54.
As seen in the above chart, the recent closing price of CVX nearing its 50-day moving average with the dominance of bears in the market. The stock price also showed bulls dominance which eventually made its weekly price analysis to give bullish sentiments. However, recent 2-days performance didn’t favor the bulls and heading towards the weekend, the price of CVX closed with a negative outlook.
CVX stock noted quite good trading volume which helped its volume to move upside. Meanwhile, the RSI further followed an upside track which then started dropping down.
The analysts have set their one year price target at $187.83 which is up nearly 18% from the recent closing price of CVX. They have set the maximum price estimate at $212.00 while the minimum estimate is at $167.00.
According to a recent Bloomberg report, Chevron Corporation will invest over $500 Million to develop the El Trapial field in the Vaca Muerta deposit. Late on June 9th, Friday, Argentina’s Economy Minister Sergio Massa shared a tweet and gave this information.
Acordamos con la empresa @Chevron avanzar en un programa de inversiones.
— Sergio Massa (@SergioMassa) June 10, 2023
La semana que viene ingresarán 300 millones de dólares para desarrollar El Trapial y según el estado de avance de la inversión, podrán sumarse otros 200 millones, totalizando 500 millones de dólares este… pic.twitter.com/9nQMNmUP9f
Massa further added that, “the company presented the export increase program and its projections of higher exports for this year.”
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
