UBS AG Lowers Chevron Corp. EPS Estimates (CVX)
Equities research analysts at UBS AG cut their earnings per share estimates on shares of Chevron Corp. (NYSE:CVX) in a research note issued to investors on Thursday, Analyst RN reports. The firm currently has a “neutral” rating and a $125.00 target price on the company’s shares. UBS AG’s target price indicates a potential upside of 7.64% from the company’s current price.
Chevron Corp. (NYSE:CVX) traded down 0.45% during mid-day trading on Thursday, hitting $115.61. The stock had a trading volume of 5,842,496 shares. Chevron Corp. has a 52-week low of $100.66 and a 52-week high of $127.83. The stock’s 50-day moving average is $121.4 and its 200-day moving average is $121.6. The company has a market cap of $223.4 billion and a P/E ratio of 9.41. Chevron Corp. also was the recipient of some unusual options trading activity on Tuesday. Investors bought 20,467 put options on the stock. This is an increase of 189% compared to the average daily volume of 7,085 put options.
Chevron Corp. (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The company reported $2.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.03 by $0.26. The company had revenue of $57.37 billion for the quarter, compared to the consensus estimate of $56.12 billion. During the same quarter in the previous year, the company posted $3.66 earnings per share. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, analysts predict that Chevron Corp. will post $12.13 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on CVX. Analysts at TheStreet reiterated a “buy” rating on shares of Chevron Corp. in a research note to investors on Monday. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $129.29.
Chevron Corporation (NYSE:CVX) 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 fully integrated petroleum operations, chemicals operations, mining activities, power generation and energy services.
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