Chevron’s stock price forecast
Chevron (CVX) stock has recovered in June following drops in April and May. The stock has risen by one percent in the second quarter. We’ll estimate how the stock could trend towards the end of the second quarter with the help of its current implied volatility.
The implied volatility in Chevron has fallen by 1.4 percentage points since April 1 to the current level of 17.2%. During the same period, Chevron stock has risen 1.4%. The implied volatility in Chevron and it’s stock price have moved in the opposite direction in the second quarter.
Considering Chevron’s implied volatility of 17.2% and assuming a normal distribution of prices and one standard deviation with a probability of 68.2%, the stock price could close between $127.9 and $121.9 per share in the next seven calendar days ending June 28. Currently, the stock trades at $124.3 per share.
Peers’ implied volatility
The implied volatility in Equinor (EQNR) and Petrobras (PBR) has fallen by 1.2 percentage points and 5.0 percentage points, respectively, since April 1 to 24.6% and 34.1%. However, the implied volatility in Total (TOT) has risen by 2.2 percentage points since April 1 to the current level of 18.8%.
During the same period, Equinor and Total’s stock prices have fallen 7.8% and 0.5%, respectively. However, Petrobras’ stock price has risen 4.4% since April 1.