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Chevron: excellent result
One of the gems of the next corporate reporting season in the USA is the release of the Chevron Energy Corporation.
The strengths of the giant’s reporting for the second quarter of 2022:
The main argument is high energy prices: oil and gas.
An additional argument in favor of the company’s securities is the optimization of the share buyback program, as well as the expansion of investments in alternative energy sources.
The consensus estimate for the stock is $172-175 for the next 12 months.
The technical picture of trading in Chevron securities shows that the MACD indicator on the daily chart is growing in the negative zone, it is preparing to enter the positive area and signals a purchase. The Shochastic oscillator declines in the positive zone, reducing the fact of being overbought, but leaves a buy signal in force.