Chevron Co. (NYSE:CVX) – Equities researchers at Jefferies Financial Group cut their Q3 2019 earnings per share estimates for Chevron in a report issued on Thursday, October 17th. Jefferies Financial Group analyst J. Gammel now anticipates that the oil and gas company will post earnings of $1.40 per share for the quarter, down from their prior estimate of $1.99. Jefferies Financial Group also issued estimates for Chevron’s Q4 2019 earnings at $1.92 EPS, Q1 2020 earnings at $1.97 EPS, Q2 2020 earnings at $1.95 EPS, Q4 2020 earnings at $2.17 EPS and FY2020 earnings at $8.15 EPS.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.53. Chevron had a net margin of 9.18% and a return on equity of 9.58%. The firm had revenue of $38.85 billion during the quarter, compared to analysts’ expectations of $40.14 billion. During the same period last year, the company posted $1.78 EPS. The company’s quarterly revenue was down 8.0% compared to the same quarter last year.

A number of other research analysts have also recently issued reports on the stock. Barclays started coverage on shares of Chevron in a research report on Monday, August 19th. They set an “overweight” rating and a $145.00 price target for the company. ValuEngine raised shares of Chevron from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Independent Research set a $127.00 price target on shares of Chevron and gave the company a “neutral” rating in a research report on Thursday, August 29th. Morgan Stanley lowered their price target on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Finally, BMO Capital Markets started coverage on shares of Chevron in a research report on Tuesday, August 20th. They set an “outperform” rating and a $165.00 price target for the company. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $137.47.

Shares of NYSE CVX opened at $116.61 on Monday. Chevron has a 1 year low of $100.22 and a 1 year high of $127.34. The stock has a market cap of $218.98 billion, a P/E ratio of 14.13, a price-to-earnings-growth ratio of 4.38 and a beta of 0.99. The firm has a 50-day moving average of $118.29 and a 200 day moving average of $120.36. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.15 and a quick ratio of 0.91.

A number of large investors have recently added to or reduced their stakes in CVX. Guidant Wealth Advisors increased its stake in Chevron by 63.9% during the 2nd quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 101 shares in the last quarter. Evolution Wealth Advisors LLC bought a new stake in shares of Chevron in the second quarter worth approximately $34,000. Transamerica Financial Advisors Inc. bought a new stake in shares of Chevron in the second quarter worth approximately $46,000. Cordasco Financial Network grew its stake in shares of Chevron by 55.3% in the second quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock worth $47,000 after acquiring an additional 135 shares during the period. Finally, CKW Financial Group grew its stake in shares of Chevron by 154.0% in the second quarter. CKW Financial Group now owns 414 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 251 shares during the period. Institutional investors and hedge funds own 65.62% of the company’s stock.

In other Chevron news, CEO Michael K. Wirth sold 33,750 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $125.00, for a total transaction of $4,218,750.00. Following the completion of the sale, the chief executive officer now directly owns 33,750 shares in the company, valued at approximately $4,218,750. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joseph C. Geagea sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $122.50, for a total transaction of $980,000.00. Following the sale, the insider now owns 9,243 shares of the company’s stock, valued at $1,132,267.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,750 shares of company stock valued at $10,648,200. 0.31% of the stock is owned by company insiders.

About Chevron

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Earnings History and Estimates for Chevron (NYSE:CVX)

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