CHVX34 trade ideas
CVXChevron Corporation is an American multinational energy corporation predominantly specializing in oil and gas. The second-largest direct descendant of Standard Oil, and originally known as the Standard Oil Company of California, it is headquartered in San Ramon, California, and active in more than 180 countries.
Potential to clear consolidation range.
Chevron's Resilience in a Volatile Market
In a year marked by turbulent oil prices and global economic challenges, Chevron (NYSE: NYSE:CVX ) showcased remarkable resilience, delivering a record windfall to its shareholders in 2023 despite a substantial dip in quarterly earnings. The second-largest U.S. oil company reported a net income of $2.3 billion, a 65% decline from the previous year, attributing the decrease to lower oil prices and several charges. However, the company's strategic moves, including an 8% increase in the quarterly dividend and robust capital expenditures, underscore Chevron's commitment to long-term growth and shareholder value.
Diving into the Numbers:
Chevron's (NYSE: NYSE:CVX ) fourth-quarter performance exceeded analyst estimates, with adjusted earnings per share coming in at $3.45 compared to the expected $3.21. While revenue fell short of projections at $47.18 billion, the company's ability to navigate challenging market conditions was evident. The decline in profits was partly attributed to impairment charges, with the U.S. oil and gas assets recording a loss of $1.35 billion. Excluding these charges, Chevron (NYSE: NYSE:CVX ) reported an adjusted profit that surpassed Wall Street's expectations, demonstrating the company's operational strength.
Record Windfall for Shareholders:
Despite the challenging economic environment, Chevron (NYSE: NYSE:CVX ) returned a staggering $23.6 billion to investors in 2023. This impressive sum was distributed through a combination of dividends, totaling $11.3 billion, and share buybacks, amounting to $14.9 billion. The decision to raise the quarterly dividend by 8%, starting in March, showcases Chevron's confidence in its financial position and long-term prospects. Shareholders reacted positively to this announcement, with the company's stock rising over 1% in early trading.
Strategic Investments and Expansion:
Chevron's (NYSE: NYSE:CVX ) resilience is not solely attributed to financial management but also to strategic investments and expansion initiatives. The company entered a landmark $53 billion deal to acquire Hess Corp, a move aimed at expanding its footprint in Guyana, a significant emerging crude producer. This acquisition aligns with Chevron's (NYSE: NYSE:CVX ) commitment to securing future growth opportunities amidst a dynamic energy landscape.
Production Highlights and Future Outlook:
Despite the challenging market conditions, Chevron (NYSE: NYSE:CVX ) achieved a record production of 3.1 million oil-equivalent barrels per day in 2023. The company experienced a remarkable 14% growth in the U.S., driven by increased capital expenditures. While international production saw a slight decline due to normal field declines, Chevron (NYSE: NYSE:CVX ) remains optimistic, projecting a 4% to 7% production increase in 2024. The company's commitment to investing in recently acquired assets and ventures like the hydrogen fuel project developer ACES Delta reflects its forward-looking approach.
Conclusion:
Chevron's (NYSE: NYSE:CVX ) 2023 performance paints a compelling picture of a company navigating adversity with strategic acumen. Despite lower oil prices, volatile markets, and impairment charges, Chevron delivered substantial returns to shareholders, increased its dividend, and made strategic investments for future growth. As the energy landscape continues to evolve, Chevron's resilience and forward-looking initiatives position it as a key player in shaping the future of the industry.
CVX Chevron Corporation Options Ahead of EarningsIf you haven`t bought the dip on CVX:
nor sold the Double Top:
Then analyzing the options chain and the chart patterns of CVX Chevron Corporation prior to the earnings report this week,
I would consider purchasing the 140usd strike price Calls with
an expiration date of 2025-1-17,
for a premium of approximately $9.30.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
CVX: Potential BuyExpecting the range to hold. Based on the range the final target is at 180 USD. Areas marked to look out for.
This Stock Is Paying A Dividend Of Atleast 3%Sadly Nike NYSE:NKE gapped down yesterday on Friday.
According to an article By ZACKS written On 21 Dec. 2023,
"Chevron CFO urges employees to do better after the 2023 miss"
Using the rocket booster strategy you can tell that this stock is in
a downtrend.
Chevron is in the oil and gas industry.
looking at the chart you can see this stock is downtrending.
According to insider money, this is a good stock to buy for dividend
earnings.
Remember to follow the trend
Is there a correlation between chevron stock and oil prices?
Leave a comment
Rocket boost this content to learn more.
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buying zone into last quartercvx is one of the leaders into energy and has one more high to go after correction in my opinion
CVX : Took an initial position for about 1.25% of the capitalTook an initial entry in CVX for about 1.25% of the capital. Expecting a potential move of about 33% from the current levels.
Anticipating a potential upward movement of around 33% from the current levels. It's noteworthy that CVX holds the fifth position in Warren Buffett's Berkshire Hathaway portfolio, according to the latest 13F filing.
Will consider adding on to the position if price retraces and falls lower to the next potential buying levels, after evaluating the macro and micro economic factors at that time.
CHEVRON Short 135$ 125$ and 112$Chevron's profitability could be negatively impacted. Chevron's stock is sensitive to fluctuations in oil prices. If there are expectations of a sustained decline in oil prices
CVX breaking resistnaceHi Traders!
Let's take a look at CVX analysis on a daily timeframe. The price has just broken the downsloping resistance line. We expect the price to rise to the previous horizontal resistance. We would open a long position right now because the price is breaking at the moment.
Do you agree? Let us know!
head and shoulders playcvx on the month chart as we see in the pic has created a head and shoulders pattern looks like neck line on month chart looks to be in a downtrend heading to the previous white line
Is Chevron ready to fire up? Trade_SetupThe world's third largest oil and gas company by market cap.- CHEVRON is ending a year long triple three correction.
The stock shows a good setup with high chances of moving from current levels of 144 towards the 170 mark(15% upside).
The stock is also standing at a crucial channel support that it has respected and reacted to on two different occasions in the past.
On the downside 140 is a crucial support for the stock.
Note*-Chart analysis and its conclusions are based on personal opinions/observations. Kindly do your own analysis before taking any financial positions
$CVX At Fibonacci SupportNYSE:CVX At 50% Fibonacci Support Level ### Technical Analysis Update: Chevron Corporation ( NYSE:CVX ) at Critical Fibonacci Support Level
Chevron Corporation ( NYSE:CVX ), a major player in the energy sector, is currently trading at a key technical juncture, specifically at the 50% Fibonacci retracement level. This level is of particular interest to traders and investors who utilize Fibonacci retracement tools in their technical analysis.
#### Understanding the 50% Fibonacci Level
Fibonacci retracement levels are based on the Fibonacci sequence, a series of numbers in which each number is the sum of the two preceding ones. In technical analysis, these levels are used to identify potential reversal points in the price of an asset, based on the premise that markets often retrace a predictable portion of a move before continuing in the original direction.
The 50% level, although not technically a part of the Fibonacci number sequence, is often included in Fibonacci retracement tools due to its historical significance as a key reversal area. This level represents a moderate retracement of the prior price move and is often watched as a potential area for the trend to resume.
#### NYSE:CVX 's Current Position
For NYSE:CVX , reaching the 50% Fibonacci support level suggests that the stock has retraced half of its previous upward move. This is a critical point for traders and investors for several reasons:
1. **Potential for Reversal**: The 50% level is closely watched as an area where the prevailing trend may resume. If NYSE:CVX finds sufficient buying interest at this level, it could indicate a reversal back to its prior uptrend.
2. **Confirmation Required**: While reaching the 50% level is noteworthy, traders typically look for additional confirmation signals before considering it a robust support level. This confirmation could come from other technical indicators, such as relative strength index (RSI), moving averages, or candlestick patterns.
3. **Risk Management**: For those considering a position in NYSE:CVX , the 50% Fibonacci level offers a clear benchmark for risk management. A sustained move below this level might negate the bullish hypothesis and prompt a reevaluation of the position.
#### Market Implications
The significance of NYSE:CVX trading at the 50% Fibonacci level is heightened by its impact on the broader energy sector and market sentiment. As a major component of energy indices and ETFs, Chevron’s performance can influence the broader market, especially in the context of the energy industry's dynamics.
#### Conclusion
Investors and traders monitoring NYSE:CVX should pay close attention to its price action around the 50% Fibonacci support level. Whether it serves as a springboard for a trend continuation or gives way under selling pressure will provide valuable insights into the stock's trajectory and, by extension, the energy sector's direction.
Long to topside of channelThe only question I have, is if were going to break above or below the channel when the time comes.
There are a couple of charts I want to post in the updates after this to explain why I think we break to the upside.
Rotation Patterns in $CVXNYSE:CVX was the Dow 30 component that had the highest loss on Friday.
The chart clearly shows that the earnings report was not going to be good. The pattern is a failed bottom as there has been rotation to lower inventories of the stock for most of this year.
Declining Accum/Distribution indicators at the lows of the range followed by a negative divergence between the price trend and Accum/Dist are indicative of rotation within the sideways trend that never developed into a bottom.
Another Relational Technical Analysis tip to watch out for in other stocks, especially ahead of earnings reports.
CVX - Short SetupNYSE:CVX
Charts are self-explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
CVX downtrend expectedYet again we are going for the short setup on CVX. As we can see the price is near the supply area, and we expect quite a fast drop starting from today.
CVX Chevron Corporation Options Ahead of EarningsIf you haven`t bought CVX here:
or sold it before the previous earnings:
Then analyzing the options chain and the chart patterns of CVX Chevron Corporation prior to the earnings report this week,
I would consider purchasing the 157.50usd strike price Puts with
an expiration date of 2023-11-17,
for a premium of approximately $3.42.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
In vogue, World Geopolitics!We have another piece of news on the American radar. Chevron buys Hess Corporation.
This could have a negative impact on CHEVRON's share prices in the short term, until the results of its newest acquisition are incorporated into its balance sheet!
A point of support at the moment would be the 155.40 region. If this price range is lost, we have another support point at 142.44.
I believe that this movement is to complement the country's energy security. A beautiful step towards "non-dependence on the OPEP+ cartel".
In this analysis, I told a little about American intentions to free themselves from the "monopoly" of black gold prices on the world market. We had another move on the global geopolitical board.
It's worth reading!
Do your analysis and good business.
Be aware, if you buy, use stop loss!
See other graphical analyzes below
CVX - Midway through BIt's becoming clear, that CVX is on track with SPX in that they are both midway through a B Wave.
CVX (Chevron Corp) Updated ChartIn these analysis we are updating our potential downside target, which is now much higher than we originally had. The RR becomes simply huge, which would be extremely profitable if target will be reached.
As always, we are posting exact signal with stop loss and take profit in our channel.
Third Wave going well! Climbing to 175 during its third wave (of V). Then a pull back before ultimately climbing toward the 180 range in early November.
CVX swing longI am becoming bullish on energy stocks, in particular CVX.
First my technical rationale:
CVX has consilidated over the past 3+ months in an unusually tight range. On Friday, the stock ended exactly on the POC for the trailing 3 months.
Despite a number of headwinds (see below) CVX remains in the context of an uptrend.
CVX and XLE (the ETF it is most closely correlated to) have under-performed the broader market over the longer term, but have shows strength more recently, pointing to the possibility of favorable sector rotation.
None of the three downward thrusts that occurred over the past month have uncovered significant supply at lower prices
A rise above 164 would present an entry on the double/triple bottom pattern that emerged over the past month, suggesting further potential towards 171+.
From a fundamental perspective:
Crude oil futures remained quite resilient despite the ongoing dollar strength over the past number of weeks, along with widely reported economic weakness reported out of China.
US rig counts have peaked late last year and started to decline significantly over the past six months. This should provide further support for oil prices.
Year-on-year realized price comparisons were very challenging during the first half of the year, but that headwind looks set to die down.
CVX is a high quality stock, with a rare, perfect Piotroski Score of 9, a substantial dividend, trading at a reasonable 11.3x 2024 EPS. Given all the macro uncertainty, this should help maintain demand for the stock.
I see two stages to this opportunity. In the shorter term, I expect a return to the highs of the trailing one month range. For this, my stop loss will be a closing violation of the ascending channel, while my PT is 164. On a longer time scale I see CVX return above 170, though that might not happen before the earnings release in early November.
