Everyone already knows that the current quarterlies for the big oils will be more bad news, This is not new news .... the smart money is looking ahead into next year and beyond, where crude and related products will be significantly higher than now. CVX in particular will have their two big Aussie NG projects cranking, which will be a BIG cash driver. As for this Friday ..... a short-term stock drop is more likely than a pop, but again, one needs to look beyond their noses to understand what's shaping up in energy.
#$%$ ..... i can't figure out who these silly boiler room turkeys think they're going after.
Keep in mind that the Street already knows that major energy players will have retracted earnings for the upcoming qtrly report. I can't see how this "after-the-fact" report would be a major drag, since the stock has been recovering quite well. Further, next quarter will see improved results from cost-cutting, crude recovery, and the approaching Aussie NG projects coming online.
As usual, Zacks is behind the curve. The time for a strong sell rating was 9 months ago, NOT when a major DJ component stock is in recovery mode.
Your comment is opposite the facts. Crude has been in a recovery mode of late. Everyone understands that energy rev's will begin ticking up for the biggest players in the industry, of which one is CVX. Further, CVX is poised to complete their two big Aussie NG projects, which will be a huge rev driver.
If your scenario is what you see, then probably the best thing for you is to sell your downtrodden shares now. That way, you'll complete the "buy high, sell low" fate of the typical retailer. If you've got the stomach for it, though, why not hang in there, collect another 2-3 quarter's worth of div's, and watch your shares continue to recover.
CVX will not cut the dividend. That is a foregone conclusion. Furthermore, the 52 week low is in (69/sh), which we won't see the likes of again. The longer-term trend is up.
The stock of a purchaser typically drops after an announcement. But, no matter .... CVX is an excellent long-term investment at any rate.
" China’s economy shows signs of slowing ..."
So where have you been for the last 18 months?
" U.S. oil output remains elevated. "
U.S. oil output is dropping, along with with weekly rig count.
Chevron is a good long-term investment. One of the most significant drivers are the two Aussie NG projects coming online by 2016. Short-term, oil will continue to fluctuate. Increase position over time to hone in on the outstanding dividend.
Energy investors are looking down the road as the crude market continues to re-balance, and esp. in CVX's case, when their two huge LNG Aussie projects come online by 2016. CVX is in for a big boost.