Upgrade Alert for Chevron (CVX)
Chevron (NYSE:CVX) was upgraded from Neutral to Outperform at Macquarie today. The stock closed yesterday at $89.24 on volume of 12.7 million shares, above average daily volume of 10.6 million.
There is potential upside of 8.0% for shares of Chevron based on a current price of $89.24 and an average consensus analyst price target of $96.37. The stock should run into initial resistance at its 50-day moving average (MA) of $90.70 and subsequent resistance at its 200-day MA of $94.04.
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.
Over the past year, Chevron has traded in a range of $69.58 to $114.45 and closed yesterday at $89.24, 28% above that low. The 200-day and 50-day moving averages have moved 0.23% lower and 0.04% higher over the past week, respectively.
SmarTrend is tracking the current trend status for Chevron and will alert subscribers who have CVX in their portfolio or watchlist when shares have changed trend direction.
Keywords: analyst upgrades/downgrades Chevron