Breaking News Bar

Business News and Information

Stock Update: Chevron Corporation (NYSE:CVX) – Sasol mulling bid for Chevron’s South African assets

[Reuters] – Petrochemicals firm Sasol said on Friday it was considering buying a majority stake in Chevron’s South African assets, including a 110,000 barrels-per-day oil refinery and retail stations. Chevron, which has had a presence in South Africa for more than a century, said in January it would sell its 75 percent stake in its business in the country after making similar sales in Nigeria due to weak oil prices. “Sasol is working with Chevron and its advisers in this regard,” spokesman Alex Anderson said in an email to Reuters. Read more on this. Chevron Corporation (CVX) , currently valued at $196.61B, began trading this morning at $104.78. Looking at the equity, the company’s one day range is $103.78 to $104.88 and has traded between $69.58 and $105.00 over the past year. CVX shares are currently priced at 85.93x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -21.14x forward p/e ratio. And for dividend hunters, the company pays shareholders $4.28 per share annually in dividends, yielding 4.20%. In a review of the consensus earnings estimate this quarter, 17 sell-side analysts are looking at $0.26 per share, which would be $0.57 worse than the year-ago quarter and a $0.12 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $1.22, which would be a $2.16 setback when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $25.78 Billion. If reported, 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 it is $105.48, which is 0.67% above where the stock opened. See more in (NYSE:CVX) Similar Articles: Stock Update: Chevron Corporation (NYSE:CVX) – U.S. top court rejects Ecuador challenge to Chevron arbitration award Stock Update: Chevron Corporation (NYSE:CVX) – Niger Delta militant attack shuts down Chevron facility -company source Company Update: Chevron Corporation (NYSE:CVX) – Chevron in talks for LNG supplies to China
Data & News supplied by
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
bottom clear