TRADING IDEAS – Chevron Earnings, Revenue Beat in Q3

TRADING IDEAS – Chevron Earnings, Revenue Beat in Q3

Chevron (NYSE:CVX) is trading up 0.94% at 113.12

Chevron (NYSE:CVX) reported on Friday third quarter earnings that beat analysts’ forecasts and revenue that topped expectations.

Chevron announced earnings per share of $3.19 on revenue of $44.71B. Analysts polled by Investing.com anticipated EPS of $2.21 on revenue of $40.27B.

Chevron shares are up 33% from the beginning of the year, still down 1.29% from its 52-week high of $114.60 set on October 26. They are outperforming the S&P Global 100 which is up 19.54% from the start of the year.

Chevron follows other major Energy sector earnings this month

Chevron’s report follows earnings missed by Royal Dutch Shell B ADR on Thursday, who reported EPS of $1.06 on revenue of $60.04B, compared to forecasts EPS of $1.37 on revenue of $61.17B.

Total Energies SE ADR had beat expectations on Thursday with third quarter EPS of $1.76 on revenue of $49.07B, compared to forecast for EPS of $1.64 on revenue of $49.41B.

On technical fronts Chevron (NYSE:CVX) RSI stood at 68.18 and currently stock is trading above all MA. So, BUY position can be taken with following target and stoploss:

TRADE SIGNAL – : Chevron (NYSE:CVX) – BUY: 112.97, TARGET: 113.53, STOP LOSS : 112.40

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