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Upgrade Alert for Chevron (CVX)

By Amy Schwartz

Chevron (NYSE:CVX) was upgraded from Neutral to Overweight at Piper Jaffray today. The stock closed yesterday at $101.30 on volume of 4.4 million shares, below average daily volume of 7.3 million.

Over the past year, Chevron has traded in a range of $69.58 to $109.93 and closed yesterday at $101.32, 46% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.3%.

Chevron Corporation is an integrated energy company with operations in countries located around the world. The Company produces and transports crude oil and natural gas. Chevron also refines, markets, and distributes fuels as well as is involved in chemical operations, mining operations, power generation and energy services.

Chevron (NYSE:CVX) is currently priced 4.9% above its average consensus analyst price target of $96.37. Chevron shares have support at the 50-day moving average (MA) of $95.54 and additional support at the 200-day MA of $88.23.

SmarTrend is monitoring the recent change of momentum in Chevron. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Chevron in search of a potential trend change.

Keywords: analyst upgrades/downgrades Chevron

Ticker(s): CVX