Chevron near 52-week low as oil continues to fall

What's Happening With CVX View more about CVX >

Oil prices continue to fall, and big oil and gas stocks are taking a hit. Oil and gas giant Chevron recently hit a 52-week low in reaction to falling oil prices and the stock is currently down 16% on the year.

Technical Analysis

CVX was recently trading at $104.98 down $28.9 from its 12-month high and $0.79 above its 12-month low. InvestorsObserver’s Stock Score Report gives CVX a 37 long-term technical score and a 29 short-term technical score. The stock has recent support above $105.5 and recent resistance below $114. Of the 16 analysts who cover the stock 10 rate it Strong Buy, 1 rate it Buy, 5 rate it Hold, 0 rate it Sell, and 0 rate it Strong Sell, CVX gets a score of 43 from InvestorsObserver’s Stock Score Report.

Analysts' Thoughts

As oil prices continue to fall big oil and gas stocks extend their recent losses. CVX recently hit a new 52-week low in reaction to the drop in crude prices, but the stock’s valuation has fallen into oversold territory and should enjoy a nice bounce if and when crude prices start to stabilize. As recently as October Brent Crude was trading at $87 a barrel, but since that time prices have fallen to their current level of $54.50, for a 37% pullback. Not only is there a fear of oversupply, but now concerns are also mounting over slowing global growth which will impact demand for the supply. Russia recently announced its daily production had risen to a new record 11.4 million barrels a day, and Saudi Arabia is also producing oil at a 22-month high of 7.7 million barrels a day. The U.S. is also producing a lot of oil, around 11.6 million barrels a day which is up 1 million barrels from the same time last year. Oil has taken a beating and until the market sees more firm commitments on production reductions crude will remain under pressure and oil and gas stocks like CVX will struggle to find their footing. Analysts have an average price target of $142.80 on the stock.

CVX
About Chevron Corporation

Chevron is an integrated energy company with exploration, production, and refining operations worldwide. Chevron is the second- largest oil company in the United States with production of 2.9 million of barrels of oil equivalent a day, including 6.9 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 United States, South Africa, and Asia for total refining capacity of 1.6 million barrels of oil a day. Proven reserves at year-end 2018 stood at 12.1 billion barrels of oil equivalent, including 6.8 billion barrels of liquids and 31.6 trillion cubic feet of natural gas.

  • Last Price:
    $125.74
  • Previous Close:
    $125.31
  • Change:
    $0.43 (0.34%)
  • Open:
    $125.24
  • Volume:
    1,753,150
  • Average Volume (100 Day):
    7,050,149
  • Market Capitalization:
    $239.5 B
  • Day's Range:
    $124.78 - $125.75
  • Dividend Yield:
    3.80%
  • 52-week Range:
    $129 - $100.22
  • P-E:
    17.30
  • EPS:
    $7.23
  • Earnings Date:
    8/2/19
  • Ex Dividend Date:
    5/16/19
  • Sector:
    Energy
  • Industry:
    Oil & Gas Integrated
  • Analyst Average Recommendation:
    Strong Buy

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