Chevron (NYSE:CVX) Posts Quarterly Earnings Results, Misses Estimates By $0.36 EPS

Chevron (NYSE:CVX) issued its earnings results on Friday. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36), RTT News reports. Chevron had a net margin of 8.44% and a return on equity of 13.15%. During the same period last year, the firm posted $3.45 earnings per share.

Chevron Stock Performance

NYSE:CVX traded down $5.32 on Friday, hitting $151.00. The company’s stock had a trading volume of 8,523,612 shares, compared to its average volume of 7,617,104. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron has a one year low of $135.37 and a one year high of $167.11. The stock has a fifty day moving average of $153.46 and a two-hundred day moving average of $151.20. The firm has a market capitalization of $271.36 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 1.35 and a beta of 1.12.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CVX. Barclays increased their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Wells Fargo & Company boosted their target price on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Royal Bank of Canada raised their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Scotiabank cut their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Raymond James raised their target price on Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

About Chevron

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