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Stock Update: Chevron Corporation (NYSE:CVX) – Niger Delta militant attack shuts down Chevron facility -company source

[Reuters] – Chevron’s onshore activities in Nigeria’s Niger Delta have been shut down by a militant attack at its Escravos terminal, a company source said on Thursday. A militant group called the Niger Delta Avengers, which has told oil firms to leave the delta before the end of May, said late on Wednesday that it had blown up the facility’s mains electricity feed. “It is a crude line which means all activities in Chevron are grounded,” the source told Reuters, without elaborating. Read more on this. Chevron Corporation (CVX) , with a current value of $191.09B, started the session at $101.85. Looking at today’s trading action, the company’s one day range from $101.11 to $102.37 with a one year range of $69.58 to $104.26. CVX shares are currently priced at 86.25x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -1.78x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $4.28 per share annually in dividends, yielding 4.31%. Consensus earnings for the current quarter by the 16 sell-side analysts covering the stock is an estimate of $0.24 per share, which would be $0.59 worse than the year-ago quarter and a $0.03 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $1.18, which would be a $2.20 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 $25.78 Billion. If realized, that would be a 36.12% 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. The average price target for CVX shares by the analysts covering the stock is $103.36, which is 1.48% 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 Company Update: Chevron Corporation (NYSE:CVX) – Chevron in talks for LNG supplies to China
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