Chevron Corporation ($CVX) Stock Forecast: Down 1.6% 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 industries, operating in over 180 countries and holding a prominent position in the global oil market.

Why is Chevron Corporation going down?

CVX stock is down 1.6% on Dec 4, 2024 15:28

• Chevron's stock faced a downward trend today with various significant factors influencing this movement:
• Increased bearish options activity on CVX, reflecting a rise in bearish sentiment among traders, likely contributed to the stock's decline.
• Concerns regarding California's new fuel regulations, potentially resulting in elevated costs and supply constraints for Chevron, might have fueled negative perceptions surrounding the company.
• Shell's recent strengthening of its LNG portfolio through a partnership with QatarEnergy could have influenced Chevron's stock, signaling heightened competition and potential market share dynamics within the LNG sector.

CVX Price Chart

CVX Technical Analysis

CVX News

Shell to Strengthen Its LNG Portfolio With New QatarEnergy Deal

SHEL signs a deal with QatarEnergy to receive 3 million metric tons of LNG annually for delivery in China.

https://www.zacks.com/stock/news/2378652/shell-to-strengthen-its-lng-portfolio-with-new-qatarenergy-deal

Spotlight on Chevron: Analyzing the Surge in Options Activity - Chevron ( NYSE:CVX )

Financial giants have made a conspicuous bearish move on Chevron. Our analysis of options history for Chevron CVX revealed 9 unusual trades. Delving into the details, we found 33% of traders were bullish, while 44% showed bearish tendencies.

https://www.benzinga.com/insights/options/24/12/42273566/spotlight-on-chevron-analyzing-the-surge-in-options-activity

Chevron vs. California: The New Fuel Regulatory Law Debate

California's recent fuel law aims for price stability, but CVX anticipates higher costs and supply woes.

https://www.zacks.com/stock/news/2377475/chevron-vs-california-the-new-fuel-regulatory-law-debate

The Zacks Analyst Blog Highlights Chevron, AstraZeneca and Arista Networks

Chevron, AstraZeneca and Arista Networks are included in this Analyst Blog.

https://www.zacks.com/stock/news/2377438/the-zacks-analyst-blog-highlights-chevron-astrazeneca-and-arista-networks

The Zacks Analyst Blog Highlights Cheniere, Shell and Chevron

Cheniere, Shell and Chevron are included in this Analyst Blog.

https://www.zacks.com/stock/news/2377441/the-zacks-analyst-blog-highlights-cheniere-shell-and-chevron

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Chevron Corporation Price History

04.11.2024 - CVX Stock was down 1.6%

• Chevron's stock faced a downward trend today with various significant factors influencing this movement:
• Increased bearish options activity on CVX, reflecting a rise in bearish sentiment among traders, likely contributed to the stock's decline.
• Concerns regarding California's new fuel regulations, potentially resulting in elevated costs and supply constraints for Chevron, might have fueled negative perceptions surrounding the company.
• Shell's recent strengthening of its LNG portfolio through a partnership with QatarEnergy could have influenced Chevron's stock, signaling heightened competition and potential market share dynamics within the LNG sector.

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.