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Company Update (NYSE:CVX): Randolph S. Richards Named Chevron Treasurer

[Business Wire] – Chevron Corporation today announced that Randolph S. Richards has been named corporate vice president and treasurer, effective May 1, 2016. Richards replaces Paul V. Bennett, who is retiring from the position after 36 years of service with the company. Read more on this. Chevron Corporation (CVX) , currently valued at $175.94B, opened this morning at $94.44. Looking at today’s market, CVX one day range is $93.04 to $94.48 with its 52-week range being $69.58 to $112.20. Priced at 72.51x this year’s forecasted earnings, CVX shares are relatively expensive compared to the industry’s 0.04x forward p/e ratio. And for dividend hunters, the company pays shareholders $4.28 per share annually in dividends, yielding 4.54%. In a review of the consensus earnings estimate this quarter, 16 sell-side analysts are looking at $-0.12 per share, which would be $1.07 better than the year-ago quarter and a $0.56 sequential increase. What we find to be interesting is that the full-year EPS estimate of $1.30 is a $2.08 worse when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $21.47 Billion. If realized, that would be a 37.88% decrease over the year-ago quarter. More recently, Raymond James downgraded CVX from Outperform to Mkt Perform (Mar 22, 2016). Previously, Nomura Initiated CVX at to Neutral. With the above information in mind, readers should note that the average price target is $97.84, which is 3.60% 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 Company Update: Chevron Corporation (NYSE:CVX) – Chevron in talks for LNG supplies to China Stock Update: Chevron Corporation (NYSE:CVX) – Chevron Announces Quarterly Dividend
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