$32.96 Billion in Sales Expected for Chevron Corporation (CVX) This Quarter
Equities research analysts expect Chevron Corporation (NYSE:CVX) to announce $32.96 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Chevron Corporation’s earnings. The lowest sales estimate is $30.49 billion and the highest is $34.36 billion. Chevron Corporation reported sales of $30.14 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 9.4%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Friday, October 27th.
On average, analysts expect that Chevron Corporation will report full-year sales of $32.96 billion for the current financial year, with estimates ranging from $122.72 billion to $140.68 billion. For the next year, analysts expect that the firm will post sales of $140.46 billion per share, with estimates ranging from $125.37 billion to $167.26 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Chevron Corporation.
Chevron Corporation (NYSE:CVX) last issued its quarterly earnings data 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 return on equity of 4.13% and a net margin of 4.50%. The firm had revenue of $34.48 billion for the quarter, compared to analyst estimates of $32.77 billion. During the same period last year, the company earned ($0.78) EPS. The business’s quarterly revenue was up 17.8% compared to the same quarter last year.
CVX has been the topic of several research reports. BidaskClub downgraded Chevron Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Piper Jaffray Companies set a $119.00 price objective on shares of Chevron Corporation and gave the stock a “buy” rating in a research note on Friday, August 25th. Wells Fargo & Company lowered Chevron Corporation to an “outperform” rating and lowered their target price for the stock from $124.00 to $102.00 in a report on Monday, July 17th. Jefferies Group LLC set a $130.00 target price on Chevron Corporation and gave the stock a “buy” rating in a report on Tuesday, August 29th. Finally, Scotiabank reaffirmed a “buy” rating on shares of Chevron Corporation in a research report on Friday, September 15th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $116.68.
Shares of Chevron Corporation (NYSE CVX) opened at 117.79 on Wednesday. The company has a 50-day moving average of $111.97 and a 200 day moving average of $107.70. Chevron Corporation has a 12-month low of $99.61 and a 12-month high of $119.00. The company has a market cap of $223.21 billion, a PE ratio of 38.19 and a beta of 1.24. Chevron Corporation also saw some unusual options trading activity on Monday. Investors acquired 9,406 call options on the company. This represents an increase of approximately 100% compared to the typical volume of 4,703 call options.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 18th were paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date was Wednesday, August 16th. Chevron Corporation’s dividend payout ratio (DPR) is 140.26%.
In related news, insider James William Johnson sold 31,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total value of $3,431,080.00. Following the completion of the sale, the insider now owns 11,000 shares of the company’s stock, valued at $1,217,480. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Linnet F. Deily sold 2,312 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were 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 90 days, insiders have sold 72,312 shares of company stock worth $8,008,343. Insiders own 0.38% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. BKD Wealth Advisors LLC boosted its position in shares of Chevron Corporation by 2.4% during the 1st quarter. BKD Wealth Advisors LLC now owns 27,206 shares of the oil and gas company’s stock valued at $2,921,000 after acquiring an additional 625 shares during the last quarter. Atria Investments LLC grew its holdings in shares of Chevron Corporation by 31.4% in the first quarter. Atria Investments LLC now owns 42,344 shares of the oil and gas company’s stock valued at $4,547,000 after purchasing an additional 10,120 shares during the period. Integrated Wealth Management increased its position in Chevron Corporation by 1.4% during the first quarter. Integrated Wealth Management now owns 46,350 shares of the oil and gas company’s stock worth $4,977,000 after purchasing an additional 648 shares during the last quarter. First National Bank & Trust Co. of Newtown increased its position in Chevron Corporation by 1.5% during the first quarter. First National Bank & Trust Co. of Newtown now owns 38,547 shares of the oil and gas company’s stock worth $4,138,000 after purchasing an additional 563 shares during the last quarter. Finally, Capital City Trust Co. FL increased its position in Chevron Corporation by 0.4% during the first quarter. Capital City Trust Co. FL now owns 32,533 shares of the oil and gas company’s stock worth $3,493,000 after purchasing an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 62.74% of the company’s stock.
Chevron Corporation Company Profile
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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