Chevron Corporation (CVX) to Release Earnings on Friday
Chevron Corporation (NYSE:CVX) is set to post its quarterly earnings results before the market opens on Friday, October 27th. Analysts expect Chevron Corporation to post earnings of $0.87 per share for the quarter.
Chevron Corporation (NYSE:CVX) last released its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.02. The company had revenue of $34.48 billion for the quarter, compared to analyst estimates of $32.77 billion. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. Chevron Corporation’s revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.78) earnings per share. On average, analysts expect Chevron Corporation to post $4.08 EPS for the current fiscal year and $5.00 EPS for the next fiscal year.
Shares of Chevron Corporation (CVX) opened at 118.20 on Friday. The stock’s 50 day moving average price is $115.93 and its 200-day moving average price is $108.64. The firm has a market cap of $223.99 billion, a price-to-earnings ratio of 38.33 and a beta of 1.24. Chevron Corporation has a 52-week low of $99.87 and a 52-week high of $120.00.
Several brokerages have issued reports on CVX. BMO Capital Markets lowered Chevron Corporation from an “outperform” rating to a “market perform” rating and set a $120.00 price target on the stock. in a report on Wednesday. They noted that the move was a valuation call. Morgan Stanley increased their price target on Chevron Corporation from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday. Societe Generale lowered Chevron Corporation from a “buy” rating to a “hold” rating and increased their price target for the stock from $120.00 to $130.00 in a report on Wednesday. Vetr lowered Chevron Corporation from a “buy” rating to a “hold” rating and set a $124.92 price target on the stock. in a report on Monday. Finally, Macquarie upgraded Chevron Corporation from a “neutral” rating to an “outperform” rating and set a $135.00 price target on the stock in a report on Tuesday. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Chevron Corporation has an average rating of “Hold” and a consensus target price of $119.66.
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In other Chevron Corporation news, Director Linnet F. Deily sold 2,312 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total transaction of $248,262.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Patricia E. Yarrington sold 39,000 shares of the stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $111.00, for a total value of $4,329,000.00. Following the transaction, the chief financial officer now directly owns 43,838 shares of the company’s stock, valued at $4,866,018. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,812 shares of company stock valued at $11,068,343. 0.38% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Acrospire Investment Management LLC grew its holdings in Chevron Corporation by 133.3% during the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 800 shares during the period. Ffcm LLC grew its holdings in Chevron Corporation by 121.1% during the second quarter. Ffcm LLC now owns 1,501 shares of the oil and gas company’s stock valued at $160,000 after purchasing an additional 822 shares during the period. Mountain Capital Investment Advisors Inc bought a new position in Chevron Corporation during the second quarter valued at $160,000. Intellectus Partners LLC grew its holdings in Chevron Corporation by 1.0% during the second quarter. Intellectus Partners LLC now owns 1,557 shares of the oil and gas company’s stock valued at $162,000 after purchasing an additional 15 shares during the period. Finally, Empirical Finance LLC bought a new position in Chevron Corporation during the second quarter valued at $206,000. 62.72% of the stock is owned by institutional investors and hedge funds.
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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