PiperJaffray Upgrades Chevron Corporation to Overweight

Brokerage firm PiperJaffray Upgrades its rating on Chevron Corporation(NYSE:CVX). The shares have been rated Overweight. Previously, the analysts had a Neutral rating on the shares. The rating by PiperJaffray was issued on Aug 9, 2016.

In a different note, On Jul 11, 2016, Jefferies said it Maintains its rating on Chevron Corporation. In the research note, the firm Raises the price-target to $114.00 per share. The shares have been rated ‘Buy’ by the firm.

Chevron Corporation (CVX) made into the market gainers list on Wednesdays trading session with the shares advancing 0.66% or 0.67 points. Due to strong positive momentum, the stock ended at $102.22, which is also near the day’s high of $102.3. The stock began the session at $101.5 and the volume stood at 53,11,568 shares. The 52-week high of the shares is $107.58 and the 52 week low is $69.58. The company has a current market capitalization of $192,840 M and it has 1,88,65,20,400 shares in outstanding.

Chevron Corporation(CVX) last announced its earnings results on Jul 29, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $29.28B. Analysts had an estimated revenue of $28.54B. Earnings per share were $0.49. Analysts had estimated an EPS of $0.33.

Several Insider Transactions has been reported to the SEC. On Aug 4, 2016, Pierre R Breber (Executive Vice President) sold 21,000 shares at $98.77 per share price.Also, On Aug 3, 2016, Michael K Wirth (Executive Vice President) sold 125,000 shares at $100.03 per share price.On May 4, 2016, Linnet F Deily (director) sold 869 shares at $103.27 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s 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.

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