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Market Update (NYSE:CVX): Chevron Achieves First LNG Production at Gorgon

[Business Wire] – Chevron Corporation today announced it has started producing liquefied natural gas and condensate at the Gorgon Project on Barrow Island off the northwest coast of Western Australia. Read more on this. Chevron Corporation (CVX) , with a current market cap of $170.64B, opened this morning at $87.94. Shares have traded today between $87.55 and $90.76 per share with the price of the stock fluctuating between $69.58 to $112.20 over the last 52 weeks. Chevron (CVX) shares are currently priced at 59.01x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 2.90x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $4.28 per share annually in dividends, yielding 4.87%. Consensus earnings for the current quarter by the 15 sell-side analysts covering the stock is an estimate of $-0.04 per share, which would be $1.07 better than the year-ago quarter and a $0.63 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $1.49, which would be a $1.89 worse when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $22.09 Billion. If realized, that would be a 36.08% decrease over the year-ago quarter. Recently, Simmons downgraded CVX from Overweight to Neutral (Jan 21, 2016). Previously, Macquarie upgraded CVX from Neutral to Outperform. The average price target for CVX shares by the analysts covering the stock is $94.05, which is 6.95% above where the stock opened this morning. See more in (NYSE:CVX) Similar Articles: Market Update: Chevron Corporation (NYSE:CVX) – Stephen W. Green Named President of Chevron Asia Pacific Exploration and Production Market Update: Chevron Corporation (NYSE:CVX) – Chevron Announces First Gas from the Chuandongbei Project in Southwest China Stock Update: Chevron Corporation (NYSE:CVX) – Chevron Announces Quarterly Dividend
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