Chevron Corporation ($CVX) Stock Forecast: Up 3.2% Today

What is Chevron Corporation?

Chevron Corporation (CVX) is a multinational energy corporation involved in various aspects of the oil, natural gas, and geothermal energy sectors. Recently, the stock demonstrated a notable upward trend in the market.

Why is Chevron Corporation going up?

CVX stock is up 3.2% on Nov 1, 2024 14:45

• Third-quarter earnings of Chevron exceeded expectations, with revenues and other income outperforming consensus estimates.
• The company's production has seen a boost, especially through collaborations with PDC Energy and activities in the Permian Basin.
• Chevron's cost-saving strategies aiming for $2-$3 billion in structural savings by 2026 have positively impacted investor sentiment.
• Analysts and brokers hold an optimistic view on Chevron, suggesting investors explore the stock for potential growth prospects.

CVX Price Chart

CVX Technical Analysis

CVX News

Chevron Q3 Earnings: Production Boost By PDC Energy & Permian Basin, Targets $2-$3 Billion In Structural Savings By 2026 - Chevron ( NYSE:CVX )

Oil giant Chevron Corp CVX shares are trading higher after the company reported third-quarter results. Revenues and other income of $50.669 billion beat the consensus of $48.986 billion.

https://www.benzinga.com/news/earnings/24/11/41681804/chevron-q3-earnings-production-boost-by-pdc-energy-permian-basin-targets-2-3-billion-in-structural-

Chevron ( CVX ) Tops Q3 Earnings and Revenue Estimates

Chevron (CVX) delivered earnings and revenue surprises of 1.62% and 1.58%, respectively, for the quarter ended September 2024. Do the numbers hold clues to what lies ahead for the stock?

https://www.zacks.com/stock/news/2362323/chevron-cvx-tops-q3-earnings-and-revenue-estimates

Apple, Amazon And 3 Stocks To Watch Heading Into Friday - Apple ( NASDAQ:AAPL ) , Amazon.com ( NASDAQ:AMZN )

With U.S. stock futures trading mixed this morning on Friday, some of the stocks that may grab investor focus today are as follows: Wall Street expects Chevron Corporation CVX to report quarterly earnings at $2.43 per share on revenue of $48.99 billion before the opening bell, according to data ...

https://www.benzinga.com/news/earnings/24/11/41676503/apple-amazon-and-3-stocks-to-watch-heading-into-friday

What's Going On With Chevron ( CVX ) Stock Ahead Of Q3 Earnings? - Chevron ( NYSE:CVX )

As Chevron Corp CVX prepares to release its third quarter earnings Friday morning, investors will for clarity on how the company is navigating both volatile oil prices and structural changes.

https://www.benzinga.com/news/24/10/41661999/whats-going-on-with-chevron-cvx-stock-ahead-of-q3-earnings

Brokers Suggest Investing in Chevron ( CVX ) : Read This Before Placing a Bet

According to the average brokerage recommendation (ABR), one should invest in Chevron (CVX). It is debatable whether this highly sought-after metric is effective because Wall Street analysts' recommendations tend to be overly optimistic. Would it be worth investing in the stock?

https://www.zacks.com/stock/news/2361681/brokers-suggest-investing-in-chevron-cvx-read-this-before-placing-a-bet

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Chevron Corporation Price History

01.10.2024 - CVX Stock was up 3.2%

• Third-quarter earnings of Chevron exceeded expectations, with revenues and other income outperforming consensus estimates.
• The company's production has seen a boost, especially through collaborations with PDC Energy and activities in the Permian Basin.
• Chevron's cost-saving strategies aiming for $2-$3 billion in structural savings by 2026 have positively impacted investor sentiment.
• Analysts and brokers hold an optimistic view on Chevron, suggesting investors explore the stock for potential growth prospects.

23.09.2023 - CVX Stock was down 1.8%

• The bearish movement in CVX's stock today can be attributed to the following factors:
• 1. Increased selling pressure: The articles highlight that institutional investors like Waverton Investment Management Ltd and Kistler Tiffany Companies LLC have been acquiring shares of CVX. However, this buying activity may have slowed down or reversed today, leading to a bearish market movement.
• 2. Overall market sentiment: The broader market sentiment towards the oil and gas industry may have played a role in the bearish movement of CVX. Factors such as concerns about global oil supply, geopolitical tensions, or economic indicators impacting oil demand could have influenced investor sentiment.
• 3. Impact of Israel-Hamas conflict: The article mentions Iraqi Prime Minister Mohammed Shia al-Sudani expressing concerns about the potential consequences of the Israel-Hamas conflict on oil supply. This geopolitical tension could have created uncertainty and negatively affected the oil and gas sector, including CVX.
• 4. Profit-taking: After a period of gains, some investors may have decided to take profits, leading to selling pressure on CVX's stock.
• Overall, the bearish movement in CVX's stock today could be a result of a combination of factors, including profit-taking, market sentiment towards the oil and gas industry, and concerns about geopolitical tensions impacting oil supply.

27.09.2023 - CVX Stock was down 5.2%

• Chevron reported lower-than-expected earnings for Q3 2023, with profits weighed down by international downstream weakness and maintenance at both upstream and downstream operations.
• The decline in earnings is in line with the broader trend of falling profits among major oil companies, as crude prices have eased from record levels a year ago.
• Chevron's shares tumbled after the earnings report, reflecting the disappointment of investors and Wall Street's estimates not being met.
• The unexpected forecast for lower profit by French drugmaking giant Sanofi also contributed to the bearish sentiment in the market, impacting Chevron's stock price.
• Overall, Chevron's bearish movement can be attributed to the company's lower-than-expected earnings and the broader decline in profits among oil companies, along with the negative market sentiment influenced by Sanofi's surprise forecast.

04.02.2024 - CVX Stock was down 1.8%

• Chevron (CVX) shutting down biodiesel plants due to unfavorable market conditions signals difficulties for its renewable energy investments, potentially affecting its revenue and profitability.
• Speculations about Exxon potentially impacting Chevron's deal with Hess Corp. in Guyana raise concerns about supply stability, creating uncertainty regarding Chevron's future production and growth.
• Despite being seen as an underestimated stock with growth opportunities, the negative market sentiment and specific obstacles confronted by Chevron seem to have overshadowed any positive outlook, leading to the bearish movement in CVX's stock today.