Analysts Anticipate Chevron Co. (NYSE:CVX) Will Announce Earnings of $1.54 Per Share

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Brokerages expect that Chevron Co. (NYSE:CVX) will announce earnings per share (EPS) of $1.54 for the current quarter, according to Zacks. Two analysts have made estimates for Chevron’s earnings, with the lowest EPS estimate coming in at $1.22 and the highest estimate coming in at $1.92. Chevron posted earnings of $2.06 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 25.2%. The firm is scheduled to issue its next earnings report on Friday, February 7th.

According to Zacks, analysts expect that Chevron will report full year earnings of $6.39 per share for the current financial year, with EPS estimates ranging from $6.24 to $6.55. For the next year, analysts expect that the company will report earnings of $6.35 per share, with EPS estimates ranging from $4.40 to $8.14. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Chevron.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.36 EPS for the quarter, missing the Zacks’ consensus estimate of $1.47 by ($0.11). Chevron had a return on equity of 8.89% and a net margin of 8.70%. The company had revenue of $36.12 billion for the quarter, compared to the consensus estimate of $37.69 billion. During the same period last year, the firm earned $2.11 earnings per share. The company’s revenue for the quarter was down 17.9% compared to the same quarter last year.

CVX has been the subject of several research analyst reports. ValuEngine raised shares of Chevron from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Independent Research set a $127.00 price objective on shares of Chevron and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Cowen cut their price objective on shares of Chevron from $140.00 to $134.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Piper Jaffray Companies initiated coverage on Chevron in a research report on Tuesday, November 26th. They issued a “buy” rating and a $143.00 target price on the stock. Finally, BMO Capital Markets assumed coverage on Chevron in a research note on Tuesday, August 20th. They set an “outperform” rating and a $165.00 target price on the stock. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Chevron currently has a consensus rating of “Buy” and a consensus price target of $136.23.

Shares of NYSE CVX traded up $1.68 during mid-day trading on Friday, reaching $118.01. 6,735,241 shares of the company were exchanged, compared to its average volume of 5,353,033. The company’s 50-day simple moving average is $118.24 and its 200-day simple moving average is $119.85. The company has a quick ratio of 0.93, a current ratio of 1.12 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $219.97 billion, a P/E ratio of 14.30, a P/E/G ratio of 4.55 and a beta of 1.01. Chevron has a twelve month low of $100.22 and a twelve month high of $127.34.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a dividend of $1.19 per share. The ex-dividend date is Friday, November 15th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.03%. Chevron’s payout ratio is presently 57.70%.

In other news, CEO Michael K. Wirth sold 33,750 shares of the company’s stock in a transaction on Monday, September 16th. The stock was 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 filing with the SEC, which is accessible through this hyperlink. Also, insider David A. Inchausti sold 15,000 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $119.89, for a total value of $1,798,350.00. Following the sale, the insider now owns 15,000 shares of the company’s stock, valued at $1,798,350. The disclosure for this sale can be found here. Insiders have sold 63,750 shares of company stock worth $7,891,650 over the last ninety days. Insiders own 0.31% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Arlington Financial Advisors LLC lifted its stake in Chevron by 0.4% in the 2nd quarter. Arlington Financial Advisors LLC now owns 20,221 shares of the oil and gas company’s stock valued at $2,516,000 after purchasing an additional 85 shares during the last quarter. Horan Capital Advisors LLC. grew its position in Chevron by 2.6% during the 3rd quarter. Horan Capital Advisors LLC. now owns 3,311 shares of the oil and gas company’s stock worth $393,000 after acquiring an additional 85 shares during the last quarter. Halsey Associates Inc. CT grew its position in Chevron by 1.1% during the 3rd quarter. Halsey Associates Inc. CT now owns 7,813 shares of the oil and gas company’s stock worth $927,000 after acquiring an additional 85 shares during the last quarter. JNBA Financial Advisors increased its holdings in Chevron by 1.6% in the 2nd quarter. JNBA Financial Advisors now owns 5,604 shares of the oil and gas company’s stock worth $697,000 after purchasing an additional 86 shares in the last quarter. Finally, Empirical Finance LLC increased its holdings in Chevron by 2.1% in the 3rd quarter. Empirical Finance LLC now owns 4,205 shares of the oil and gas company’s stock worth $499,000 after purchasing an additional 87 shares in the last quarter. Institutional investors own 65.69% of the company’s stock.

Chevron Company Profile

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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