Chevron Corp. (CVX) Shares Active after Upgrade at Macquarie

Chevron Corp. (NYSE: CVX) shares rose in value Thursday Dec 15 with slower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.

Analysts at Macquarie upgraded shares of Chevron Corp. (NYSE: CVX) from Neutral to Outperform today. The company currently has a rating of Outperform on the stock. A number of other analysts have issued reports on the stock in recent days, and Chevron Corp. has secured a consensus one-year price target of $117.08, higher than the opening price of $115.63, a difference of 10.05 percent. Chevron Corp. stock has a 52-week high of $118.99. Share prices often shift to the upside on recommendations and new price targets of professional brokerage firms.

Chevron Corp. (NYSE: CVX) shares last traded at $116.46, which is an increase of $0.50 or 0.43% from the previous closing price. Opening at $115.63, they fluctuated from $115.36 and $116.53 throughout the day.

Chevron Corp. (NYSE: CVX) now has a market cap of 219.85B.

Chevron Corp. (NYSE: CVX) Average Daily Trading Volume

The stock’s average daily volume is 7,409,540 shares out of a total float 1,887,089,000 and some 1,043,692 shares crossed the trading desk yesterday, below the norm. Momentum traders often use swings in trading volume to identify substantial volume growth or distribution by institutional investors, so look for trading volume to pick up in the coming days.

However, just a day of high volume buy side trading is not enough to assert a trend. So market traders will continue to look for institutional sponsorship as an indicator that financial institutions are moving forward.

Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

Institutional investors such as these have substantial teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.

Chevron Corp. (NYSE: CVX) Moving Averages

A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.

This is because the average acts like a floor (support), so the price bounces up off of it.

In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.

By tracking the activity of these professional investors—and the moving averages they influence—it allows for traders to make more effective decisions on trades.

Trades for Chevron Corp. (NYSE: CVX) have ranged from $75.33 – 118.99, and the stock now has a 50-day MA of $109.47 and 200-day MA of $103.92. Today’s last price is 2.13%% below the 52 week high of $118.99.

Earnings growth is a crucial factor to research when buying stocks and investors watch for companies that have been successful at growing their earnings at least 25% or more over 3 consecutive years.

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