Chevron Corporation (NYSE:CVX) reaches new 52-week high leading up to tomorrow’s earnings report, details are below.
The company will host its quarterly conference call tomorrow at 11:00 A.M., Eastern. Chevron has said that Mike Wirth, Executive Vice President, Downstream and Chemicals Pat Yarrington, Vice President and Chief Financial Officer Jeanette Ourada, General Manager, Investor Relations will be speakers tomorrow during the conference call.
EPS poised to beat Q3 2010 number according to analysts
Chevron posted Q3 2010 EPS of $1.87 and is projected to post no less than a number in the three dollar range tomorrow. The lowest estimate is $3.01 by an analyst with the highest being substantially higher at $3.64. The average overall is $3.44 which shows bullish sentiment amongst analysts regarding Chevron EPS for tomorrow.
Revenue projections by analysts are wildly volatile
Revenue projections set by analysts are particularly volatile. The lowest revenue estimate is $50.51 billion dollars to more than twice as much at $104.46 billion dollars. Chevron posted $48.55 billion of revenue during Q3 2010. The highest estimate gave for CVX is $67.93 billion.
New 52-week high set today
Today has been a very good day for stockholders of CVX leading up to tomorrow’s earnings announcement by Chevron.
CVX gapped north at the normal market open and reached a new 52-week high today of $110.01 per share at 3:26 P.M., Eastern, during intraday trading. Shares have been on a bullish run after rebounding from the 2011 low of $86.68 which was reached earlier this month on a particularly negative sentiment-filled day of trading, October 4th, 2011.
Shares of CVX have had little trouble making positive headway after October 4th, with only two consecutive daily losses in October 6th & the 7th. Tomorrow, investors will see if today’s new high was premature or if traders hit the nail on the head a day in advance.