What Is the Outlook for Chevron Shares?

This afternoon we watched Chevron rise 1.2% to a price of $159.05 per share. The large-cap Oil & Gas Integrated company is now trading -16.05% below its average target price of $189.46. Analysts have set target prices ranging from $167.0 to $212.0 per share for Chevron, and have given the stock an average rating of buy.

The stock has a very low short interest at 0.9%, and a short ratio of 2.23. At 0.04%, the company's rate of insider ownership does not indicate that management is heavily invested in the corporation. Finally, we also note that an average number of institutional investors are invested in the stock, with 72.6% of Chevron's shares being owned by this investor type.

Institutions Invested in Chevron

Date Reported Holder Percentage Shares Value
2023-03-31 Vanguard Group, Inc. (The) 8% 160,651,097 $25,550,883,349
2023-03-31 Blackrock Inc. 7% 133,837,003 $21,286,214,133
2023-03-31 Berkshire Hathaway, Inc 7% 132,407,595 $21,058,872,784
2023-03-31 State Street Corporation 7% 125,820,719 $20,011,257,776
2023-03-31 Geode Capital Management, LLC 2% 32,632,341 $5,190,037,004
2023-03-31 Morgan Stanley 2% 31,216,702 $4,964,885,557
2023-03-31 Bank of America Corporation 2% 30,644,023 $4,873,803,364
2023-03-31 Charles Schwab Investment Management, Inc. 1% 23,667,484 $3,764,214,089
2023-03-31 Northern Trust Corporation 1% 23,493,623 $3,736,562,226
2023-03-31 JP Morgan Chase & Company 1% 20,792,735 $3,306,997,315

Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on Chevron.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.