Analysts expect that Chevron Co. (NYSE:CVX) will report $2.16 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Chevron’s earnings, with the lowest EPS estimate coming in at $2.06 and the highest estimate coming in at $2.23. Chevron reported earnings of $0.91 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 137.4%. The firm is expected to announce its next quarterly earnings results on Friday, July 27th.
According to Zacks, analysts expect that Chevron will report full year earnings of $8.52 per share for the current fiscal year, with EPS estimates ranging from $7.80 to $9.83. For the next financial year, analysts forecast that the business will report earnings of $9.10 per share, with EPS estimates ranging from $8.10 to $10.18. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Chevron.
Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 27th. The oil and gas company reported $1.90 EPS for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.45. Chevron had a return on equity of 5.83% and a net margin of 6.95%. The company had revenue of $37.76 billion during the quarter, compared to the consensus estimate of $40.34 billion. During the same quarter last year, the company earned $1.23 EPS. The company’s quarterly revenue was up 13.0% on a year-over-year basis.
A number of analysts have commented on the company. Credit Suisse Group raised their price objective on Chevron from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Monday, April 30th. Zacks Investment Research upgraded Chevron from a “hold” rating to a “strong-buy” rating and set a $147.00 target price for the company in a research report on Wednesday, June 13th. Mizuho began coverage on Chevron in a research report on Friday, June 8th. They set a “buy” rating and a $145.00 target price for the company. Barclays raised their target price on Chevron from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, April 30th. Finally, Raymond James upgraded Chevron from a “market perform” rating to an “outperform” rating in a research report on Monday, June 18th. Six analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Chevron has an average rating of “Buy” and an average price target of $135.52.
Shares of CVX stock traded up $1.84 during mid-day trading on Friday, reaching $126.00. The stock had a trading volume of 6,330,230 shares, compared to its average volume of 7,015,051. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron has a one year low of $102.55 and a one year high of $133.88. The company has a market capitalization of $234.22 billion, a P/E ratio of 34.05, a P/E/G ratio of 2.06 and a beta of 1.14.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 11th. Investors of record on Friday, May 18th were issued a dividend of $1.12 per share. The ex-dividend date was Thursday, May 17th. This represents a $4.48 dividend on an annualized basis and a yield of 3.56%. Chevron’s dividend payout ratio is 121.08%.
In related news, VP R. Hewitt Pate sold 25,500 shares of the firm’s stock in a transaction on Tuesday, April 17th. The stock was sold at an average price of $121.97, for a total transaction of $3,110,235.00. Following the completion of the sale, the vice president now directly owns 25,500 shares of the company’s stock, valued at approximately $3,110,235. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James William Johnson sold 9,500 shares of the firm’s stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $129.44, for a total value of $1,229,680.00. Following the sale, the insider now directly owns 9,500 shares of the company’s stock, valued at $1,229,680. The disclosure for this sale can be found here. Insiders have sold a total of 391,250 shares of company stock valued at $50,351,940 over the last ninety days. Insiders own 0.46% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Avalon Advisors LLC increased its stake in shares of Chevron by 0.4% in the 1st quarter. Avalon Advisors LLC now owns 508,750 shares of the oil and gas company’s stock valued at $58,018,000 after buying an additional 2,173 shares during the period. Mount Yale Investment Advisors LLC acquired a new stake in shares of Chevron in the 1st quarter valued at $522,000. Greenline Partners LLC increased its stake in shares of Chevron by 2.8% in the 1st quarter. Greenline Partners LLC now owns 78,937 shares of the oil and gas company’s stock valued at $9,002,000 after buying an additional 2,149 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Chevron in the 1st quarter valued at $1,950,000. Finally, Private Vista LLC increased its stake in shares of Chevron by 113.4% in the 1st quarter. Private Vista LLC now owns 11,051 shares of the oil and gas company’s stock valued at $1,260,000 after buying an additional 5,873 shares during the period. 64.27% of the stock is owned by hedge funds and other institutional investors.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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