Brokerages Expect Chevron Corporation (CVX) Will Announce Earnings of $1.10 Per Share
Wall Street analysts forecast that Chevron Corporation (NYSE:CVX) will post earnings of $1.10 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Chevron Corporation’s earnings, with the lowest EPS estimate coming in at $0.85 and the highest estimate coming in at $1.58. Chevron Corporation posted earnings of $0.22 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 400%. The firm is expected to announce its next quarterly earnings results on Friday, January 26th.
On average, analysts expect that Chevron Corporation will report full-year earnings of $4.27 per share for the current fiscal year, with EPS estimates ranging from $4.00 to $4.79. For the next financial year, analysts forecast that the firm will post earnings of $5.01 per share, with EPS estimates ranging from $4.13 to $6.65. Zacks’ EPS averages are an average based on a survey of analysts that that provide coverage for Chevron Corporation.
Chevron Corporation (NYSE:CVX) last released its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. Chevron Corporation had a return on equity of 4.59% and a net margin of 4.79%. The firm had revenue of $36.21 billion for the quarter, compared to analyst estimates of $34.06 billion. During the same quarter in the previous year, the company posted $0.68 EPS. The business’s revenue was up 20.1% on a year-over-year basis.
A number of equities research analysts have commented on CVX shares. Morgan Stanley upped their price target on Chevron Corporation from $120.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Barclays PLC upped their target price on Chevron Corporation from $120.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, October 10th. Piper Jaffray Companies set a $119.00 target price on Chevron Corporation and gave the company a “buy” rating in a research report on Friday, August 25th. Jefferies Group LLC set a $130.00 target price on Chevron Corporation and gave the company a “buy” rating in a research report on Tuesday, August 29th. Finally, Scotiabank reiterated a “buy” rating on shares of Chevron Corporation in a report on Friday, September 15th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $120.54.
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In related news, VP R. Hewitt Pate sold 25,500 shares of Chevron Corporation stock in a transaction on Monday, October 16th. The stock was sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the completion of the sale, the vice president now owns 25,500 shares of the company’s stock, valued at $3,060,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of Chevron Corporation stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total value of $145,022.00. Following the sale, the insider now directly owns 1,229 shares of the company’s stock, valued at approximately $145,022. The disclosure for this sale can be found here. In the last three months, insiders have purchased 41,000 shares of company stock valued at $5,420 and have sold 63,122 shares valued at $7,433,361. 0.38% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. HPM Partners LLC lifted its stake in Chevron Corporation by 197.0% during the first quarter. HPM Partners LLC now owns 38,735 shares of the oil and gas company’s stock worth $4,159,000 after purchasing an additional 25,691 shares during the last quarter. Lincoln National Corp increased its holdings in shares of Chevron Corporation by 33.3% in the first quarter. Lincoln National Corp now owns 82,502 shares of the oil and gas company’s stock worth $8,859,000 after buying an additional 20,615 shares during the period. Adams Natural Resources Fund Inc. increased its holdings in shares of Chevron Corporation by 8.8% in the second quarter. Adams Natural Resources Fund Inc. now owns 596,800 shares of the oil and gas company’s stock worth $62,264,000 after buying an additional 48,100 shares during the period. Korea Investment CORP increased its holdings in shares of Chevron Corporation by 5.1% in the second quarter. Korea Investment CORP now owns 1,476,610 shares of the oil and gas company’s stock worth $154,055,000 after buying an additional 72,173 shares during the period. Finally, Strategic Financial Group LLC increased its holdings in shares of Chevron Corporation by 6.0% in the first quarter. Strategic Financial Group LLC now owns 8,979 shares of the oil and gas company’s stock worth $964,000 after buying an additional 510 shares during the period. 63.03% of the stock is owned by institutional investors.
Chevron Corporation (NYSE CVX) traded up $0.14 during midday trading on Friday, hitting $114.71. The company’s stock had a trading volume of 4,337,473 shares, compared to its average volume of 5,663,546. Chevron Corporation has a 1 year low of $102.55 and a 1 year high of $120.89. The company has a market cap of $217,610.00, a price-to-earnings ratio of 32.75, a PEG ratio of 3.91 and a beta of 1.22. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.77%. The ex-dividend date is Thursday, November 16th. Chevron Corporation’s dividend payout ratio is 125.95%.
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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