FY2016 EPS Estimates for Chevron Corp. Increased by Credit Agricole SA (CVX)
Chevron Corp. (NYSE:CVX) – Equities researchers at Credit Agricole SA lifted their FY2016 earnings per share (EPS) estimates for shares of Chevron Corp. in a report issued on Tuesday. Credit Agricole SA analyst A. Sen now expects that the brokerage will earn $1.15 per share for the year, up from their prior forecast of $1.14.
A number of other analysts have also issued reports on CVX. Vetr lowered Chevron Corp. from a “buy” rating to a “hold” rating and set a $106.39 target price on the stock. in a report on Monday, June 20th. Jefferies Group reaffirmed a “buy” rating and issued a $116.00 target price (up previously from $114.00) on shares of Chevron Corp. in a report on Wednesday, July 6th. Zacks Investment Research raised Chevron Corp. from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a report on Tuesday, July 12th. Barclays PLC reaffirmed an “equal weight” rating and issued a $125.00 target price on shares of Chevron Corp. in a report on Thursday, July 28th. Finally, Piper Jaffray Cos. raised Chevron Corp. from a “neutral” rating to an “overweight” rating and raised their target price for the company from $110.00 to $117.00 in a report on Tuesday, August 9th. Thirteen analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $105.09.
Shares of Chevron Corp. (NYSE:CVX) opened at 101.08 on Friday. Chevron Corp. has a 12 month low of $75.33 and a 12 month high of $107.58. The firm has a 50-day moving average price of $101.00 and a 200 day moving average price of $101.27. The firm’s market capitalization is $190.69 billion.
Chevron Corp. (NYSE:CVX) last issued its earnings results on Friday, July 29th. The company reported ($0.78) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $1.10. Chevron Corp. had a positive return on equity of 1.07% and a negative net margin of 0.64%. The company earned $29.28 billion during the quarter, compared to analyst estimates of $25.78 billion. During the same period in the prior year, the business earned $0.30 earnings per share. Chevron Corp.’s quarterly revenue was down 27.4% on a year-over-year basis.
A number of institutional investors have recently modified their holdings of the stock. CHURCHILL MANAGEMENT Corp purchased a new stake in Chevron Corp. during the second quarter valued at approximately $2,118,000. Chevy Chase Trust Holdings Inc. boosted its stake in Chevron Corp. by 0.7% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,644,631 shares of the company’s stock valued at $172,407,000 after buying an additional 11,249 shares during the period. Howard Capital Management boosted its stake in Chevron Corp. by 1.2% in the second quarter. Howard Capital Management now owns 136,346 shares of the company’s stock valued at $14,293,000 after buying an additional 1,676 shares during the period. First Quadrant L P CA boosted its stake in Chevron Corp. by 0.8% in the second quarter. First Quadrant L P CA now owns 245,387 shares of the company’s stock valued at $25,724,000 after buying an additional 2,042 shares during the period. Finally, Arizona State Retirement System boosted its stake in Chevron Corp. by 1.8% in the first quarter. Arizona State Retirement System now owns 730,403 shares of the company’s stock valued at $69,680,000 after buying an additional 13,100 shares during the period. Hedge funds and other institutional investors own 62.24% of the company’s stock.
In other Chevron Corp. news, Director Inge G. Thulin acquired 487 shares of the business’s stock in a transaction on Monday, August 15th. The stock was purchased at an average price of $102.87 per share, for a total transaction of $50,097.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael K. Wirth sold 125,000 shares of Chevron Corp. stock in a transaction on Monday, August 1st. The shares were sold at an average price of $100.47, for a total value of $12,558,750.00. Following the completion of the transaction, the insider now owns 4,222 shares of the company’s stock, valued at approximately $424,184.34. The disclosure for this sale can be found here. 0.40% of the stock is owned by company insiders.
About Chevron Corp.
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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