Short Term Price Target on Chevron Corporation (CVX)

Chevron Corporation (NYSE:CVX) stock is expected to deviate a maximum of $8.66 from the average target price of $107.5 for the short term period. 12 Street Experts have initiated coverage on the stock with the most promising target being $122 and the most muted being $85.

Shares of Chevron Corporation rose by 0.37% in the last five trading days and 3.66% for the last 4 weeks. Chevron Corporation is up 12.39% in the last 3-month period. Year-to-Date the stock performance stands at 19.26%.

Chevron Corporation (NYSE:CVX) : The consensus on Chevron Corporation (NYSE:CVX) based on 17 analyst recommendation on the company stock is 1.88, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 9 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 7 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Chevron Corporation (NYSE:CVX): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $103.56 and $103.28 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $105.00. The buying momentum continued till the end and the stock did not give up its gains. It closed at $104.83, notching a gain of 1.36% for the day. The total traded volume was 7,649,684 . The stock had closed at $103.42 on the previous day.

In an insider trading activity, The Securities and Exchange Commission has divulged that Deily Linnet F, director of Chevron Corp, had unloaded 869 shares at an average price of $103.27 in a transaction dated on May 2, 2016. The total value of the transaction was worth $89,742.

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates. The Company operates through two segments: Upstream and Downstream. Upstream operations consist primarily of exploring for, developing and producing crude oil and natural gas; processing, liquefaction, transportation and regasification associated with liquefied natural gas (LNG); transporting crude oil through international oil export pipelines; transporting, storing and marketing natural gas, and operating a gas-to-liquids plant. The Companys Downstream operations primarily consist of refining crude oil into petroleum products; marketing crude oil and refined products; transporting crude oil and refined products by pipeline, marine vessel, motor equipment and rail car, and manufacturing and marketing commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.