PREVIEW: Chevron shares flat ahead of quarterly result
Repeats from Thursday with no changes
** Shares of Chevron Corp CVX.N are flat at $148.61 on Thurs ahead of the oil giant's quarterly result due before the bell on Fri
** CVX was forced to briefly shut oil and gas production at some of its facilities because of tropical storm Helene
** CVX is inching towards closing its $53 bln deal to acquire Hess Corp HES.N after sources told Reuters the Federal Trade Commission is set to approve the merger
** Investors expect CVX's rev to drop 9.4% to ~$49 bln while earnings per share will also decline 20.2% to $2.43
** CVX's rev had met expectations 6 times in the last 8 quarters, while EPS has met estimates 5 times, according to LSEG data
** Among the 26 analysts that cover, median PT is $168 and avg rating is "buy", per LSEG data
** CVX options braced for a 2.7% swing for the shares, in either direction by Fri; over the last eight qtrs, on average, CVX shares moved 2.5% on the day the co reported results, per Trade Alert data
** CVX shares are flat YTD compared with a ~7% YTD gain in the S&P 500 Energy Index .SPNY and the ~11% YTD increase in the Dow Jones Industrial Average .DJI
Reporting by Chibuike Oguh and Saqib Ahmed in New York
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