Chevron (CVX) NewsBite - Soleil Ups CVX Earnings Forecast

Posted: Monday, November 23, 2009 9:53 AM EDT

Chevron (NYSE: CVX) opened at $78.31. So far today, the stock has hit a low of $78.15 and a high of $78.71. CVX is now trading at $78.60, up $1.83 (2.38%). Over the last 52 weeks the stock has ranged from a low of $56.12 to a high of $81.92. CVX is on the move after an analyst at Soleil Securities upped its 2010 earnings forecast for the oil company to $8.65 per share from $8.55 per share, citing higher oil futures. Soleil also reiterated CVX at Buy. Technical indicators for the stock are bullish and S&P gives CVX a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on CVX the stock seems like it could be a candidate for a March out-of-the-money bull-put credit spread below the 60 range. [ABR-Seven Summits Strategic Investments NewsBite]

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