$32.90 Billion in Sales Expected for Chevron Corporation (CVX) This Quarter
Equities analysts expect that Chevron Corporation (NYSE:CVX) will report sales of $32.90 billion for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Chevron Corporation’s earnings, with the lowest sales estimate coming in at $30.49 billion and the highest estimate coming in at $34.36 billion. Chevron Corporation reported sales of $30.14 billion during the same quarter last year, which would suggest a positive year over year growth rate of 9.2%. The firm is scheduled to report its next earnings results on Friday, October 27th.
According to Zacks, analysts expect that Chevron Corporation will report full year sales of $32.90 billion for the current year, with estimates ranging from $122.72 billion to $140.68 billion. For the next fiscal year, analysts expect that the firm will report sales of $140.04 billion per share, with estimates ranging from $125.37 billion to $167.26 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Chevron Corporation.
Chevron Corporation (NYSE:CVX) last released its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The company had revenue of $34.48 billion for the quarter, compared to analyst estimates of $32.77 billion. During the same period in the previous year, the company posted ($0.78) EPS. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year.
Several equities analysts recently weighed in on the company. Jefferies Group LLC set a $135.00 target price on Chevron Corporation and gave the company a “buy” rating in a research report on Saturday, June 24th. Barclays PLC reiterated an “overweight” rating and set a $125.00 target price (up from $116.00) on shares of Chevron Corporation in a research report on Wednesday, July 12th. Scotiabank reiterated a “buy” rating on shares of Chevron Corporation in a research report on Friday. BidaskClub downgraded Chevron Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, Macquarie downgraded Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 target price on the stock. in a research report on Wednesday, June 21st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $116.40.
Shares of Chevron Corporation (NYSE CVX) opened at 114.49 on Friday. The company’s 50 day moving average price is $109.22 and its 200-day moving average price is $107.18. The company has a market capitalization of $216.96 billion, a price-to-earnings ratio of 37.12 and a beta of 1.23. Chevron Corporation has a 1-year low of $97.53 and a 1-year high of $119.00.
The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 18th were given a $1.08 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $4.32 annualized dividend and a yield of 3.77%. Chevron Corporation’s dividend payout ratio is currently 140.26%.
In related news, insider James William Johnson sold 31,000 shares of Chevron Corporation stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total value of $3,431,080.00. Following the completion of the transaction, the insider now owns 11,000 shares in the company, valued at $1,217,480. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Linnet F. Deily sold 2,312 shares of Chevron Corporation stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total value of $248,262.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,312 shares of company stock valued at $8,008,343. 0.38% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HPM Partners LLC grew its position in Chevron Corporation by 197.0% in the first quarter. HPM Partners LLC now owns 38,735 shares of the oil and gas company’s stock worth $4,159,000 after acquiring an additional 25,691 shares in the last quarter. Strategic Financial Group LLC grew its position in 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 acquiring an additional 510 shares in the last quarter. Lincoln National Corp grew its position in 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 acquiring an additional 20,615 shares in the last quarter. Rothschild Investment Corp IL grew its position in Chevron Corporation by 2.3% in the first quarter. Rothschild Investment Corp IL now owns 41,232 shares of the oil and gas company’s stock worth $4,427,000 after acquiring an additional 919 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Chevron Corporation by 7.7% in the first quarter. Janney Montgomery Scott LLC now owns 504,112 shares of the oil and gas company’s stock worth $54,127,000 after acquiring an additional 36,257 shares in the last quarter. Institutional investors own 62.84% of the company’s stock.
Chevron Corporation Company Profile
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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