Chevron (CVX) is Upgraded by Macquarie to Outperform

Chevron (CVX) is Upgraded by Macquarie to Outperform , according to the research report released to the investors. Earlier the firm had a rating of Neutral on the company shares. The shares recommendation by the Brokerage Firm was released on Dec-22-2015.

Shares of Chevron Corporation (NYSE:CVX) ended Thursday session in red amid volatile trading. The shares closed down 2.9 points or 3.1% at $90.54 with 14,073,446 shares getting traded. Post opening the session at $93.5, the shares hit an intraday low of $90.4 and an intraday high of $94 and the price vacillated in this range throughout the day. The company has a market cap of $170,400 million and the number of outstanding shares has been calculated to be 1,882,036,700 shares. The 52-week high of Chevron Corporation (NYSE:CVX) is $114.45 and the 52-week low is $69.58.

During the last several months other analysts have commented on the company rating. Equity analysts at the Brokerage firm Citigroup upgrades its rating on Chevron Corporation (NYSE:CVX). The rating major has initiated the coverage with an buy rating on the shares. Earlier, the shares were rated a Neutral by the brokerage firm. The Analysts at Citigroup raises the price target from $95 per share to $110 per share. The rating by the firm was issued on December 2, 2015.

Chevron Corporation (NYSE:CVX) has received a short term rating of hold from research analysts at Zacks with a rank of 3. The company has been rated an average of 1.81 by 16 Wall Street Analysts. 8 analysts have added the shares in their list of strong buys. 3 stock experts have also rated a buy. 5 broker firms have advised hold.

Chevron Corporation (NYSE:CVX) should head towards $102.08 per share according to 13 Analysts in consensus. However, if the road gets shaky, the stock may fall short to $91 per share. The higher price estimate target is at $122 according to the Analysts.

Shares of Chevron Corporation appreciated by 1.39% during the last five trading days but lost 0.54% on a 4-week basis. Chevron Corporation is up 17.89% in the last 3-month period. Year-to-Date the stock performance stands at -15.63%.”

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in fully integrated petroleum operations, chemicals operations, mining activities, power generation and energy services. Upstream operations consist primarily of exploring for, developing and producing crude oil and natural gas; processing, transportation and regasification associated with liquefied natural gas; transporting crude oil by international oil export pipelines; transporting, storage and marketing of natural gas, and a gas-to-liquids project. Downstream operations consist primarily of refining crude oil into petroleum products; transporting crude oil and refined products by pipeline, marine vessel, motor equipment and rail car, and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses and fuel and lubricant additives.