Why Chevron Corporation (NYSE:CVX) Is In News?


Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $110.39 on Chevron Corporation (NYSE:CVX) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $1.47 for the next fiscal and $N/A for underway quarter. Valuation Estimates Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of Chevron Corporation (NYSE:CVX) stands at 152.91. Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For Chevron Corporation Common Stoc, the PEG ratio for coming 3-5 years is 1.69. Technical Analysis The technical analysis highlights that Chevron Corporation Common Stoc current price is trading $2.07 points away +1.99% from $103.60, which stands as the 50-day moving average of the firm. The stock’s 200-day MA is $95.43 and, for now, the stock price is trading $10.23 or +10.72% away from that point. The 52-week high of Chevron Corporation (NYSE:CVX) was $107.58 while lowest point recorded in 52-week was $69.58. It implies if stock price makes a movement of over $-1.92, it will record a new 52-week high. In the case of $+51.85% points drop, it will touch a new 52-week low.

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