UBS Maintains a 'Buy' on Chevron (CVX); R&M Should Enable Modest Q2 EPS Beat

UBS maintains a 'Buy' on Chevron (NYSE: CVX) price target of $125.00.

Analyst, William A. Featherston, says R&M should enable a modest beat for Q2 Earnings.

Featherston's comments follow last night's Interim Q2 Update issued by Chevron. The company said earnings for Q2 are expected to be higher than Q1. Upstream results are projected to be lower between sequential quarters, due to lower average crude oil prices, partially offset by foreign exchange gains. Downstream earnings in Q2 are expected to be significantly higher, reflecting improved refining margins and gains on asset sales.

For an analyst ratings summary and ratings history on Chevron click here. For more ratings news on Chevron click here.

Shares of Chevron closed at $104.85 yesterday.

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