$0.88 Earnings Per Share Expected for Chevron Corporation (CVX) This Quarter
Wall Street analysts expect Chevron Corporation (NYSE:CVX) to report earnings per share (EPS) of $0.88 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Chevron Corporation’s earnings, with estimates ranging from $0.74 to $1.13. Chevron Corporation posted earnings per share of $0.68 in the same quarter last year, which indicates a positive year-over-year growth rate of 29.4%. The company is expected to issue its next earnings report on Friday, October 27th.
On average, analysts expect that Chevron Corporation will report full year earnings of $4.03 per share for the current financial year, with EPS estimates ranging from $3.64 to $4.91. For the next fiscal year, analysts anticipate that the business will report earnings of $4.55 per share, with EPS estimates ranging from $3.10 to $6.63. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Chevron Corporation.
Chevron Corporation (NYSE:CVX) last posted its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.02. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The business had revenue of $34.48 billion for the quarter, compared to the consensus estimate of $32.77 billion. During the same period in the prior year, the business posted ($0.78) earnings per share. Chevron Corporation’s revenue for the quarter was up 17.8% compared to the same quarter last year.
Several research analysts have recently weighed in on the company. Barclays PLC reaffirmed an “overweight” rating and set a $125.00 price objective (up from $116.00) on shares of Chevron Corporation in a research report on Wednesday, July 12th. Jefferies Group LLC set a $135.00 price objective on Chevron Corporation and gave the stock a “buy” rating in a report on Saturday, June 24th. BidaskClub lowered Chevron Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. J P Morgan Chase & Co reissued an “overweight” rating on shares of Chevron Corporation in a research report on Saturday, September 16th. Finally, Macquarie cut Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 target price on the stock. in a research note on Wednesday, June 21st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Chevron Corporation presently has a consensus rating of “Buy” and an average target price of $116.87.
In other news, CFO Patricia E. Yarrington sold 39,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the completion of the sale, the chief financial officer now owns 43,838 shares in the company, valued at $4,866,018. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Linnet F. Deily sold 2,312 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total value of $248,262.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,312 shares of company stock worth $8,008,343. Insiders own 0.38% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Shine Investment Advisory Services Inc. bought a new stake in Chevron Corporation in the 2nd quarter valued at $106,000. Thompson Davis & CO. Inc. grew its holdings in Chevron Corporation by 20.0% in the 1st quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after buying an additional 191 shares in the last quarter. Winfield Associates Inc. grew its holdings in Chevron Corporation by 5.1% in the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after buying an additional 63 shares in the last quarter. Americafirst Capital Management LLC acquired a new position in Chevron Corporation in the 1st quarter valued at $140,000. Finally, Daiwa SB Investments Ltd. grew its holdings in Chevron Corporation by 438.5% in the 2nd quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after buying an additional 1,140 shares in the last quarter. 62.74% of the stock is currently owned by institutional investors.
Chevron Corporation (NYSE:CVX) traded down 0.20% during mid-day trading on Monday, reaching $117.27. The company had a trading volume of 1,780,158 shares. The stock has a market cap of $222.23 billion, a PE ratio of 38.03 and a beta of 1.24. Chevron Corporation has a 12 month low of $99.61 and a 12 month high of $119.00. The firm’s 50-day moving average price is $109.87 and its 200-day moving average price is $107.14.
The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 18th were paid a $1.08 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.68%. Chevron Corporation’s dividend payout ratio (DPR) is currently 140.26%.
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About Chevron Corporation
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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