Equities analysts expect that Chevron Co. (NYSE:CVX) will post $2.32 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Chevron’s earnings. The lowest EPS estimate is $2.10 and the highest is $2.66. Chevron posted earnings per share of $1.03 during the same quarter last year, which suggests a positive year over year growth rate of 125.2%. The business is expected to report its next quarterly earnings report before the market opens on Friday, November 2nd.
On average, analysts expect that Chevron will report full-year earnings of $8.25 per share for the current financial year, with EPS estimates ranging from $7.80 to $9.27. For the next year, analysts forecast that the company will report earnings of $9.48 per share, with EPS estimates ranging from $7.95 to $11.11. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that that provide coverage for Chevron.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, July 27th. The oil and gas company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.31). The business had revenue of $42.24 billion for the quarter, compared to analyst estimates of $46.62 billion. Chevron had a return on equity of 6.89% and a net margin of 7.87%. The firm’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.77 earnings per share.
A number of analysts recently issued reports on CVX shares. Goldman Sachs Group reissued a “buy” rating and set a $141.00 price objective on shares of Chevron in a research report on Tuesday, July 31st. HSBC raised Chevron from a “hold” rating to a “buy” rating in a research report on Tuesday, September 11th. Zacks Investment Research downgraded Chevron from a “buy” rating to a “hold” rating in a research report on Monday, July 23rd. ValuEngine downgraded Chevron from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, Royal Bank of Canada reissued a “neutral” rating and set a $145.00 price objective on shares of Chevron in a research report on Monday, July 2nd. Nine equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Chevron has a consensus rating of “Buy” and an average target price of $136.83.
Shares of NYSE:CVX opened at $124.03 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 0.87. The stock has a market cap of $234.31 billion, a P/E ratio of 33.52, a price-to-earnings-growth ratio of 2.14 and a beta of 1.07. Chevron has a 12-month low of $108.02 and a 12-month high of $133.88.
The company also recently announced a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Friday, August 17th were given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.61%. The ex-dividend date was Thursday, August 16th. Chevron’s dividend payout ratio is currently 121.08%.
In other Chevron news, insider James William Johnson sold 4,750 shares of Chevron stock in a transaction dated Thursday, July 12th. The stock was sold at an average price of $124.20, for a total value of $589,950.00. Following the completion of the transaction, the insider now directly owns 4,750 shares of the company’s stock, valued at approximately $589,950. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVX. Reilly Herbert Faulkner III boosted its stake in shares of Chevron by 4.5% in the 1st quarter. Reilly Herbert Faulkner III now owns 30,697 shares of the oil and gas company’s stock valued at $3,501,000 after buying an additional 1,334 shares during the period. Fiera Capital Corp boosted its stake in shares of Chevron by 1.6% in the 1st quarter. Fiera Capital Corp now owns 298,283 shares of the oil and gas company’s stock valued at $34,016,000 after buying an additional 4,800 shares during the period. Mycio Wealth Partners LLC boosted its stake in shares of Chevron by 16.8% in the 2nd quarter. Mycio Wealth Partners LLC now owns 9,795 shares of the oil and gas company’s stock valued at $1,238,000 after buying an additional 1,412 shares during the period. AMG National Trust Bank boosted its stake in shares of Chevron by 19.6% in the 2nd quarter. AMG National Trust Bank now owns 6,354 shares of the oil and gas company’s stock valued at $803,000 after buying an additional 1,041 shares during the period. Finally, North Star Investment Management Corp. boosted its stake in shares of Chevron by 12.6% in the 2nd quarter. North Star Investment Management Corp. now owns 21,054 shares of the oil and gas company’s stock valued at $2,662,000 after buying an additional 2,358 shares during the period. 64.82% of the stock is owned by institutional investors.
Chevron Company Profile
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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