• Return to Headlines

Upgrade Alert for Chevron (CVX)

By Nick Russo

Chevron (NYSE:CVX) was upgraded from Hold to Buy at Societe Generale today. The stock closed yesterday at $100.04 on volume of 8.8 million shares, above average daily volume of 6.5 million.

In the past 52 weeks, Chevron share prices have been bracketed by a low of $98.81 and a high of $135.10 and closed yesterday at $100.04, 1% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.3%.

Chevron (NYSE:CVX) has potential upside of 13.3% based on a current price of $100.04 and analysts' consensus price target of $113.38. The stock should run into initial resistance at its 50-day moving average (MA) of $106.18 and subsequent resistance at its 200-day MA of $110.71.

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.

SmarTrend recommended that its subscribers protect gains by selling shares of Chevron on May 19th, 2015 by issuing a Downtrend alert when the shares were trading at $105.66. Since that call, shares of Chevron have fallen 5.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades Chevron

Ticker(s): CVX