The American multinational energy company, Chevron Corporation, is still in two minds in terms of whether to leave Venezuela amidst decreasing profit and increasing corruption in the country.
Criticized for working in close quarters with the Venezuelan Maduro government, Chevron is the last major U.S.-based oil producing company still operating in Venezuela. Chevron is also one of the largest foreign investors in Venezuela, with stakes in several important projects like Petropiar, a plant that converts tar-like, extra-heavy crude into lighter oils for refineries.
Top competitors of the company like Exxon (XOM, $81.71) and ConocoPhillips (COP, $66.91) have left the country almost a decade back as the government began nationalizing oil fields managed by foreign operators and started raising taxes sharply.
Despite rampant corruption remaining one of the top concerns for the company, top executives of the company from the region have indicated that Chevron plans to stay the course in Venezuela despite the Latin American country’s deteriorating economy and growing humanitarian crisis. However, the top executives of the company in U.S. are yet to confirm anything.
The Moving Average Convergence Divergence (MACD) for CVX turned positive on April 24, 2024. Looking at past instances where CVX's MACD turned positive, the stock continued to rise in of 44 cases over the following month. The odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on April 22, 2024. You may want to consider a long position or call options on CVX as a result. In of 81 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The 50-day moving average for CVX moved above the 200-day moving average on April 03, 2024. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where CVX advanced for three days, in of 332 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 280 cases where CVX Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The 10-day RSI Indicator for CVX moved out of overbought territory on April 30, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 33 similar instances where the indicator moved out of overbought territory. In of the 33 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 5 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where CVX declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
CVX broke above its upper Bollinger Band on April 01, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 70, placing this stock better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. CVX’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating slightly weaker than average sales and a marginally profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.836) is normal, around the industry mean (1.218). P/E Ratio (14.004) is within average values for comparable stocks, (24.146). Projected Growth (PEG Ratio) (4.497) is also within normal values, averaging (4.841). Dividend Yield (0.039) settles around the average of (0.107) among similar stocks. P/S Ratio (1.519) is also within normal values, averaging (0.979).
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a company which explores and refines oil and natural gas
Industry IntegratedOil