Chevron Stock At Good Entry Point

New York London GMT Tokyo Singapore

Chevron Stock At Good Entry Point

By Zacks Investment Research on February 5, 2009 | More Posts By Zacks Investment Research | Author's Website

Chevron Corp.’s (CVX) 4th-quarter earnings came in below the year-earlier level, weighed down by sharply lower oil and gas prices. Upstream profits dropped nearly 35%, partly offset by improved results from the
company s refining and marketing business.

Looking ahead, Chevron plans to continue with its active exploration and development program, keeping its 2009 capex budget unchanged from the year-earlier level at $22.8 billion.

We are keeping our Buy recommendation unchanged, though we have lowered our 2009 estimate ($5.89 vs. $10.15) to reflect the challenging commodity-price environment. We have also introduced our 2010 estimate at $9.30 per share. Our current 12-month target price is $90 per share.

Check Out These Related Posts:

If you like this article please...

Subscribe by RSS Subscribe by Email

Email This Post To A Friend

1 Comment :

Comment by Dibya Ranjan Nanda Subscribed to comments via email

2009-02-06 07:18:02

I need some good entry points in GOLD, SILVER, COPPER and Crude Oil markets. Further I would like to request you to send me some good commodity market enrty points as well as some predictions for Forex Markets too.

Reply to this comment

Recent Market Opinions:

Recent News:

Bay Street Stocks Slip Slightly Again - Canadian Commentary - 1 day ago
Stocks Close Mostly Lower Amid Disappointing Quarterly Results - U.S. Commentary - 1 day ago
Bay Street Stocks Linger Slightly Below Unchanged Level - Canadian Commentary - 1 day ago
Stocks Remain Stuck In The Red In Mid-Afternoon Trading - U.S Commentary - 1 day ago
European Markets Fall, Led By Banks, Oils - European Commentary - 1 day ago

Opinions From Our Contributors

Commodities The Dirty Little Secrets Of Warrants, Options & LEAPS Interesting Articles To Read The Forgotten Commodity - Rice Commodity Investing: ETFs Or Mutual Funds? John Paulson Launching A Gold Fund With $250M Of His Own Money Profit From The Falling Dollar With ETFs Wheat Playing Catch-Up As Commodities Rally Regulators And Commodity ETFs: Why They’re Evolving Why Gold Will Surge To A Record $2,000 In 2010 The Great Geopolitical Battle Over Energy Transit Routes Read More »	Financials Ron Paul Thinks That Fed “Oversight Is Laughable” Buffett Borrows For Rail Acquisition Investment Ideas: Here Are 3 Dirt Cheap Stocks Treasury To Auction TARP Warrants Dear Reader, We Cannot Criticize Goldman Sachs. Instead, We Admire It 2010 Outlook For The US Banking Industry Get Rid Of Your General Electric Shares Tufts Endowment And Risk Taking? Regional Bank ETFs: The Bad And The Good Tim Geithner And Congress Take The Gloves Off Read More »	Exchange Traded Funds What You Should Know About Precious Metals ETFs And Taxes Main Street Vs. Wall Street: Using ETFs To Capitalize Why You Should Watch This Leisure & Entertainment ETF Biotech Investing: Spread Your Risks With ETFs Are You Going For Yield With Your ETFs? Rydex Market Timers: At It Again Is An Asset Bubble Forming In Hong Kong’s ETF? Senior Secured Floating Rate Bonds: The Best Investments To Own When Interest Rates Rise KBW Regional Banking ETF: Fundamentals Are Stinky, But The Chart Looks Great Gold ETFs - Will The Record Rally Last? Read More »
Stocks S&P 500 Index Is Still Overvalued This Small Oil Exploration Company Is Ripe For A Takeover… Here’s How To Profit 3 Steps To Becoming A More Successful Trader The Transportation Sector: Here Are Three Investments In A Sector That Are Ready To Soar Stock Market Briefs: DR Horton, Dell, JM Smucker Nordstrom - Momentum Stock Buy Stocks To Watch On Friday Comcast-NBC Universal Deal To Change Comcast’s Business Model India Stock Market: Renewed Buying Bolsters Markets India Stock Market: Sensex Up 236.20 Points On Friday Read More »	Forex Forex Wrap-up: A Massive Short-Covering Rally In The US Dollar May Just Be Starting Australian Dollar: Caution Canadian Dollar: Caution “Audit The Fed” Bill Moves Along USD/JPY Pushing Against The 100 Hour Moving Average At 89.11 Swiss Franc: The Downside Prevails Japanese Yen: Under Pressure British Pound: The Downside Prevails Euro: Under Pressure Cartoon: The Shrinking US Dollar Read More »	Economy Obama Commits To Free Trade Agreement With South Korea, But Auto Trade Remains An Obstacle Exponential Growth, Finite World The Message Of The 2-Year US Treasury Note, Deflation And Japan Why Investors Should Look To Japan Again Bond Sentiment: Treasury Yields May Drop LA Shipping Reaches Highest Level Since Nov. 2008 Velocity Of US Money Supply At Long Last Picking Up US Government Debt: The Actual And Hidden Costs Are Rising Every Day Latest “Disastrous” US Housing Data Doesn’t Support Homebuilder Stocks Stock News Briefs: AOL To Cut One-Third Of Workforce; DirecTV Won’t Rule Out Possible Takeover Read More »