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Investment analysts at Raymond James hoisted their price target on shares of Chevron (NYSE:CVX) from $132.00 to $146.00 in a note issued to investors on Friday. Raymond James’ price objective would indicate a potential upside of 12.09% from the stock’s previous close.

Shares of Chevron (NYSE:CVX) traded down 1.36% during mid-day trading on Friday, hitting $128.4736. The stock had a trading volume of 2,754,410 shares. Chevron has a one year low of $109.27 and a one year high of $133.57. The stock has a 50-day moving average of $127. and a 200-day moving average of $121.1. The company has a market cap of $244.6 billion and a price-to-earnings ratio of 12.68. Chevron also was the target of a significant growth in short interest in June. As of June 30th, there was short interest totalling 21,067,353 shares, a growth of 20.9% from the June 13th total of 17,423,499 shares. Based on an average daily volume of 7,916,023 shares, the days-to-cover ratio is currently 2.7 days. Approximately 1.1% of the company’s stock are short sold.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 2nd. The company reported $2.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by $0.15. The company had revenue of $53.27 billion for the quarter, compared to the consensus estimate of $54.47 billion. During the same quarter in the previous year, the company posted $3.18 earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. Analysts expect that Chevron will post $10.82 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Chevron in a research note on Wednesday, June 11th. They now have a $132.00 price target on the stock. Separately, analysts at Deutsche Bank initiated coverage on shares of Chevron in a research note on Tuesday, June 10th. They set a “buy” rating and a $142.00 price target on the stock. Finally, analysts at Argus downgraded shares of Chevron from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. They now have a $130.00 price target on the stock. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $133.17.

Chevron Corporation (NYSE:CVX) 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.

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