Chevron Co. (NYSE:CVX) – Jefferies Financial Group issued their Q1 2019 earnings estimates for Chevron in a research report issued on Monday, November 5th. Jefferies Financial Group analyst J. Gammel anticipates that the oil and gas company will post earnings of $2.84 per share for the quarter. Jefferies Financial Group also issued estimates for Chevron’s Q3 2019 earnings at $2.24 EPS, FY2019 earnings at $10.13 EPS and FY2020 earnings at $10.08 EPS.
Other equities analysts also recently issued reports about the company. HSBC upgraded Chevron from a “hold” rating to a “buy” rating in a research report on Tuesday, September 11th. Goldman Sachs Group restated a “buy” rating and issued a $141.00 price objective on shares of Chevron in a research report on Tuesday, July 31st. Zacks Investment Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $137.00 price objective on the stock in a research report on Monday, October 1st. ValuEngine downgraded Chevron from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, Royal Bank of Canada set a $150.00 price objective on Chevron and gave the company a “hold” rating in a research report on Thursday, September 20th. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $138.13.
Shares of Chevron stock opened at $119.36 on Wednesday. Chevron has a 52 week low of $107.54 and a 52 week high of $133.88. The stock has a market capitalization of $227.83 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 2.05 and a beta of 1.12. The company has a current ratio of 1.08, a quick ratio of 0.87 and a debt-to-equity ratio of 0.20.
Chevron (NYSE:CVX) last released its earnings results on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.06 by $0.05. The company had revenue of $43.99 billion for the quarter, compared to the consensus estimate of $47.17 billion. Chevron had a return on equity of 8.24% and a net margin of 8.79%. Chevron’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 earnings per share.
Hedge funds have recently modified their holdings of the company. Live Your Vision LLC increased its stake in Chevron by 308.0% during the second quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock worth $101,000 after acquiring an additional 616 shares during the last quarter. Litman Gregory Asset Management LLC increased its stake in Chevron by 566.9% during the first quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock worth $131,000 after acquiring an additional 975 shares during the last quarter. Canton Hathaway LLC bought a new stake in Chevron during the third quarter worth approximately $141,000. Signature Estate & Investment Advisors LLC bought a new stake in Chevron during the third quarter worth approximately $144,000. Finally, Point72 Asia Hong Kong Ltd increased its stake in Chevron by 20,716.7% during the first quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock worth $142,000 after acquiring an additional 1,243 shares during the last quarter. 64.66% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider James William Johnson sold 4,750 shares of Chevron stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $116.00, for a total value of $551,000.00. Following the sale, the insider now directly owns 4,750 shares of the company’s stock, valued at $551,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.38% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $4.48 annualized dividend and a dividend yield of 3.75%. Chevron’s dividend payout ratio (DPR) is 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.
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