Chart of the Day - Chevron (CVX)

The "Chart of the Day" is Chevron (CVX), which showed up on Friday's Barchart "All-Time High" list. Chevron posted an all-time high Friday of $113.64 and closed up +0.82%. TrendSpotter has been long Chevron since July 2 at $105.86. In recent news on the stock, Barron's on Aug 5 said that with low valuations and rising dividends, Chevron is one energy stock that is particularly attractive, while last Monday, Oppenheimer raised its price target on Chevron to $130 from $120. Rising crude prices may also boost Chevron's bottom line after the U.S. Energy Information Administration on Tuesday raised its Brent crude oil spot price average to about $103 per barrel during the second half of 2012, about $3.50 per barrel higher than in last month's outlook. Chevron, with a market cap of $221.2 billion, is the fifth-largest integrated energy company in the world. It conducts business in approximately 180 countries and is engaged in every aspect of the oil and natural gas industry, including exploration and production; refining, marketing and transportation; chemicals manufacturing and sales; and power generation.