Wall Street analysts expect that Chevron Co. (NYSE:CVX) will announce earnings of $1.51 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Chevron’s earnings, with the highest EPS estimate coming in at $1.75 and the lowest estimate coming in at $1.39. Chevron reported earnings of $2.11 per share during the same quarter last year, which indicates a negative year over year growth rate of 28.4%. The business is scheduled to announce its next earnings results before the market opens on Friday, November 1st.
On average, analysts expect that Chevron will report full-year earnings of $6.16 per share for the current financial year, with EPS estimates ranging from $5.93 to $6.55. For the next financial year, analysts forecast that the company will report earnings of $6.46 per share, with EPS estimates ranging from $4.21 to $8.15. Zacks’ EPS averages are an average based on a survey of analysts that cover Chevron.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.53. The firm had revenue of $38.85 billion during the quarter, compared to analysts’ expectations of $40.14 billion. Chevron had a net margin of 9.18% and a return on equity of 9.58%. Chevron’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.78 earnings per share.
A number of equities research analysts recently issued reports on CVX shares. Barclays started coverage on shares of Chevron in a report on Monday, August 19th. They issued an “overweight” rating and a $145.00 price objective for the company. BMO Capital Markets began coverage on shares of Chevron in a research report on Tuesday, August 20th. They set an “outperform” rating and a $165.00 target price for the company. Cowen set a $140.00 target price on shares of Chevron and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Morgan Stanley cut their target price on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Finally, Independent Research set a $127.00 target price on shares of Chevron and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $137.47.
In other news, insider Joseph C. Geagea sold 8,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $122.50, for a total transaction of $980,000.00. Following the completion of the transaction, the insider now owns 9,243 shares of the company’s stock, valued at $1,132,267.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael K. Wirth sold 33,750 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $125.00, for a total transaction of $4,218,750.00. Following the transaction, the chief executive officer now directly owns 33,750 shares of the company’s stock, valued at approximately $4,218,750. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,750 shares of company stock valued at $10,648,200. Company insiders own 0.31% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Guidant Wealth Advisors raised its position in shares of Chevron by 63.9% during the second quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 101 shares during the last quarter. Evolution Wealth Advisors LLC acquired a new position in Chevron in the second quarter worth about $34,000. Transamerica Financial Advisors Inc. acquired a new position in Chevron in the second quarter worth about $46,000. Cordasco Financial Network raised its position in Chevron by 55.3% in the second quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock worth $47,000 after purchasing an additional 135 shares in the last quarter. Finally, CKW Financial Group raised its position in Chevron by 154.0% in the second quarter. CKW Financial Group now owns 414 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 251 shares in the last quarter. 65.62% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:CVX opened at $117.98 on Thursday. The stock has a market capitalization of $221.37 billion, a PE ratio of 14.30, a P/E/G ratio of 4.73 and a beta of 0.99. Chevron has a 1 year low of $100.22 and a 1 year high of $127.34. The firm has a fifty day moving average price of $118.30 and a 200 day moving average price of $120.29. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16.
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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