Chevron Corporation (NYSE:CVX) gets regulatory approval to restart California refinery

Stocks of the DayIt has been recently disclosed that Chevron Corporation (NYSE:CVX) was able to grab approval from regulators to start a major unit at its refinery in Richmond, California.

In March the company said that it expected the refinery to attain normal production rates in the second quarter. The refinery had a fire incident in August that led to the problem of running the refinery at reduced rates. In 2012 Chevron’s crude distillation unit experienced a leak that led to a major fire incident.

The refinery produced oil of 245,000 barrel a day. Following the incident the company used other parts of the refinery to continue producing gasoline while the technicians repaired the crude distillation unit. The Occupational Safety and Health Division of California declared its consent for Chevron to bring back the crude distillation unit of affected refinery.

Coming to the stock performance in last Session; Chevron Corporation (NYSE:CVX) in last trading session end up at $117.52 by falling -0.47% with traded volume of 5.03 million shares which is down the average volume of 5.69 million shares.

The stock price saw week’s volatility of 1.24% and month’s volatility is 1.02%, while the stock price of the company is moving down from its 20 days moving average with -1.54% and isolated positively from 50 days moving average with 0.40%.

Looking at Analytic Ratios; the price to sales ratio of CVX in past twelve months was calculated as 0.94 and price to cash ratio as 10.42. Company return on equity ratio is recorded as 20.30% and its return on assets is 11.90%.

CVX belongs to Basic Materials sector. Yesterday Dow Jones U.S. Basic Materials Index (SBM) was at 274.12 with -0.28% change.

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