Wall Street analysts expect Chevron Co. (NYSE:CVX) to post $2.28 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Chevron’s earnings, with the lowest EPS estimate coming in at $1.85 and the highest estimate coming in at $2.66. Chevron reported earnings of $1.03 per share during the same quarter last year, which would indicate a positive year over year growth rate of 121.4%. The business is expected to issue its next earnings report on Friday, October 26th.
According to Zacks, analysts expect that Chevron will report full year earnings of $8.10 per share for the current financial year, with EPS estimates ranging from $7.30 to $9.27. For the next fiscal year, analysts expect that the firm will report earnings of $9.18 per share, with EPS estimates ranging from $7.65 to $11.11. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Chevron.
Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, July 27th. The oil and gas company reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.31). The firm had revenue of $42.24 billion for the quarter, compared to the consensus estimate of $46.62 billion. Chevron had a return on equity of 6.89% and a net margin of 7.87%. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.77 earnings per share.
A number of brokerages have recently weighed in on CVX. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “strong-buy” rating and set a $147.00 price target on the stock in a research report on Wednesday, June 13th. Barclays lifted their price target on shares of Chevron from $145.00 to $148.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 11th. Credit Suisse Group set a $132.00 price target on shares of Chevron and gave the stock a “hold” rating in a research report on Sunday, July 1st. Mizuho began coverage on shares of Chevron in a research report on Friday, June 8th. They set a “buy” rating and a $145.00 price target on the stock. Finally, Macquarie cut shares of Chevron from an “outperform” rating to a “neutral” rating and set a $125.00 price target on the stock. in a research report on Tuesday, July 3rd. Eight equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Chevron currently has an average rating of “Buy” and an average target price of $138.49.
In related news, insider James William Johnson sold 4,750 shares of the business’s stock in a transaction on Thursday, July 12th. The shares were sold at an average price of $124.20, for a total value of $589,950.00. Following the sale, the insider now directly owns 4,750 shares of the company’s stock, valued at approximately $589,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.38% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Reilly Herbert Faulkner III lifted its position in Chevron by 4.5% during the 1st quarter. Reilly Herbert Faulkner III now owns 30,697 shares of the oil and gas company’s stock worth $3,501,000 after buying an additional 1,334 shares in the last quarter. Fiera Capital Corp lifted its position in Chevron by 1.6% during the 1st quarter. Fiera Capital Corp now owns 298,283 shares of the oil and gas company’s stock worth $34,016,000 after buying an additional 4,800 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Chevron by 11.8% during the 1st quarter. Russell Investments Group Ltd. now owns 1,728,252 shares of the oil and gas company’s stock worth $196,613,000 after buying an additional 182,810 shares in the last quarter. Icon Wealth Partners LLC bought a new stake in Chevron during the 4th quarter worth about $1,006,000. Finally, Roosevelt Investment Group Inc. lifted its position in Chevron by 21.7% during the 1st quarter. Roosevelt Investment Group Inc. now owns 73,364 shares of the oil and gas company’s stock worth $8,366,000 after buying an additional 13,097 shares in the last quarter. 65.02% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE CVX traded down $0.41 during midday trading on Thursday, reaching $119.81. 3,294,100 shares of the stock were exchanged, compared to its average volume of 6,464,896. The stock has a market cap of $230.61 billion, a price-to-earnings ratio of 32.38, a P/E/G ratio of 2.12 and a beta of 1.10. Chevron has a 12 month low of $107.04 and a 12 month high of $133.88. The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 0.20.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Friday, August 17th will be given a $1.12 dividend. The ex-dividend date is Thursday, August 16th. This represents a $4.48 annualized dividend and a yield of 3.74%. Chevron’s dividend payout ratio is currently 121.08%.
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.
See Also: Understanding Analyst Recommendations
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.