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Chevron Shares Stable – Positive Results Expected – Call Options Preferred -

Jul, 29th 11:34

Chevron recovered in the morning trade yesterday after the strong slump on the Fed’s decision to keep interest rates on hold at the Wednesday policy meeting.

Wall Street analysts have a Buy rating on Chevron Corporation’s shares. Analysts have had an average recommendation of 2.30 on the shares using the ratings scale: 1.0 Strong Buy, 2.0 Buy, 3.0 Hold, 4.0 Sell and 5.0 Strong Sell. Currently, the stock is hovering around $101.63, down 0.48% from the day before.

In the last fiscal quarter, Chevron Corporation generated around $23.55 billion in revenue and net income of -$0.11 per share, compared with the consensus estimate $21.43 billion and -$0.2 per share, respectively.  The loss in the earnings per share was due to a 35% decline in crude oil prices.

The company is scheduled to report its earnings later today (July 29). Analysts are expecting a reading of $0.32 in profit per share. This would be a decline of 61% from last year’s profits but a strong reversal from the loss of $0.11 it suffered in the first quarter.

In the second quarter, the company’s performance is anticipated to continue reflecting weak crude prices. Although the average price for a barrel of Brent oil has improved to $47.03 in the second quarter from the first quarter’s $35.21, it is still nearly 26% lower than in the second quarter of 2015.

Despite the weak results of the first quarter and inspite of expected second quarter earnings that are expected to be lower than in Q2, 2015, Chevron’s shares have witnessed a solid improvement in 2016 with a 14% rise in the year to date.

Currently, Chevron shares are providing a 4.1% dividend yield, which means that an investor that deploys $10,000 to work on the stock can expect around $400 in annual income just from holding it. This dividend is the best among all the components of the Dow Jones Industrial Average.


Fig. CHEVRON D1 Technical Chart

Chevron stock has been plunging for more than a week, having failed at the resistance of 107.61. The price is hovering around the price area of 100.36, under downward pressure of the two EMAs above. RSI is lingering at 39.18, indicating that the bull is stronger than the bear currently. However, the trend indicator has been urging long positions since the middle of February, accumulating more than 1200 points of profit. The price is anticipated to test the support level of 100.36 before a bounce back occurs.

Trade suggestion

Buy Digital Call Option from 100.36 to 104.95 valid until July 29, 2016

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