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Stock Update: Chevron Corporation (NYSE:CVX) – U.S. top court rejects Ecuador challenge to Chevron arbitration award

window.location=""; [Reuters] – The U.S. Supreme Court on Monday rejected Ecuador’s challenge to a $96 million international arbitration award in favor of energy company Chevron Corp in a dispute over the development of oil fields in the South American country. The high court’s refusal to hear the case leaves in place an August 2015 ruling by the U.S. Court of Appeals for the District of Columbia Circuit upholding a 2011 award in Chevron’s favor from The Hague’s Permanent Court of Arbitration in the Netherlands. Read more on this. Chevron Corporation (CVX) , with a current market cap of $191.64B, opened at $101.34. Looking at the stock, its one day range is $101.03 to $102.04 and has traded between $69.58 and $104.26 over the past 12 months. Priced at 82.51x this year’s forecasted earnings, CVX shares are relatively expensive compared to the industry’s -8.28x forward p/e ratio. And for income investors, the company pays shareholders $4.28 per share annually in dividends, yielding 4.25%. According to a consensus of 16 analysts, the earnings estimate of $0.24 per share would be $0.59 worse than the year-ago quarter and a $0.02 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $1.22, which would be a $2.16 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. In terms of ratings, Raymond James downgraded CVX from Outperform to Mkt Perform (Mar 22, 2016). Previously, Nomura Initiated CVX at to Neutral. When considering if the stock is under or overvalued, the average price target is $104.23, which is 2.85% above where the stock opened this morning. See more in (NYSE:CVX) Similar Articles: Stock Update: Chevron Corporation (NYSE:CVX) – Niger Delta militant attack shuts down Chevron facility -company source 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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