Chevron Corp (CVX)
Chevron Corporation is an American multinational energy corporation. One of the successor companies of Standard Oil, it is headquartered in San Ramon, California, and active in more than 180 countries. Chevron is engaged in every aspect of the oil and natural gas industries, including hydrocarbon exploration and production; refining, marketing and transport; chemicals manufacturing and sales; and power generation.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 0.61% per annum.
- CVX price at the close of April 29, 2025 was $139.30 and was inside the primary price channel.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 89.03% per annum.
- CVX price at the close of April 29, 2025 was inside the secondary price channel.
- The direction of the secondary trend is opposite to the direction of the primary trend. This indicates a possible reversal in the direction of the primary trend.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of CVX price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: March 2, 2022
End date: April 29, 2025
a = 4.9797
b = 0.0000
s = 0.0589
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0000) – 1
= 0.61%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0589) – 1
= 26.55%
March 2, 2022 calculations
Top border of price channel:
Exp(Y463)
= Exp(a + b × X463 + 2 × s)
= Exp(a + b × 671 + 2 × s)
= Exp(4.9797 + 0.0000 × 671 + 2 × 0.0589)
= Exp(5.1085)
= $165.42
Bottom border of price channel:
Exp(Y463)
= Exp(a + b × X463 – 2 × s)
= Exp(a + b × 671 – 2 × s)
= Exp(4.9797 + 0.0000 × 671 – 2 × 0.0589)
= Exp(4.8730)
= $130.72
April 29, 2025 calculations
Top border of price channel:
Exp(Y1,255)
= Exp(a + b × X1,255 + 2 × s)
= Exp(a + b × 1,825 + 2 × s)
= Exp(4.9797 + 0.0000 × 1,825 + 2 × 0.0589)
= Exp(5.1276)
= $168.61
Bottom border of price channel:
Exp(Y1,255)
= Exp(a + b × X1,255 – 2 × s)
= Exp(a + b × 1,825 – 2 × s)
= Exp(4.9797 + 0.0000 × 1,825 – 2 × 0.0589)
= Exp(4.8922)
= $133.24
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 0.61% per annum.
- CVX price at the close of April 29, 2025 was $139.30 and was inside the primary price channel.
Secondary Trend
Start date: March 18, 2025
End date: April 29, 2025
a = 15.9212
b = -0.0061
s = 0.0515
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0061) – 1
= -89.03%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0515) – 1
= 22.89%
March 18, 2025 calculations
Top border of price channel:
Exp(Y1,226)
= Exp(a + b × X1,226 + 2 × s)
= Exp(a + b × 1,783 + 2 × s)
= Exp(15.9212 + -0.0061 × 1,783 + 2 × 0.0515)
= Exp(5.2299)
= $186.77
Bottom border of price channel:
Exp(Y1,226)
= Exp(a + b × X1,226 – 2 × s)
= Exp(a + b × 1,783 – 2 × s)
= Exp(15.9212 + -0.0061 × 1,783 – 2 × 0.0515)
= Exp(5.0237)
= $151.98
April 29, 2025 calculations
Top border of price channel:
Exp(Y1,255)
= Exp(a + b × X1,255 + 2 × s)
= Exp(a + b × 1,825 + 2 × s)
= Exp(15.9212 + -0.0061 × 1,825 + 2 × 0.0515)
= Exp(4.9756)
= $144.83
Bottom border of price channel:
Exp(Y1,255)
= Exp(a + b × X1,255 – 2 × s)
= Exp(a + b × 1,825 – 2 × s)
= Exp(15.9212 + -0.0061 × 1,825 – 2 × 0.0515)
= Exp(4.7695)
= $117.86
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 89.03% per annum.
- CVX price at the close of April 29, 2025 was inside the secondary price channel.