Chevron Corporation (CVX) Expected to Earn Q1 2018 Earnings of $1.32 Per Share
Chevron Corporation (NYSE:CVX) – Investment analysts at Jefferies Group issued their Q1 2018 earnings per share estimates for Chevron Corporation in a research note issued to investors on Monday. Jefferies Group analyst J. Gammel anticipates that the oil and gas company will earn $1.32 per share for the quarter. Jefferies Group has a “Buy” rating and a $137.00 price objective on the stock. Jefferies Group also issued estimates for Chevron Corporation’s Q2 2018 earnings at $1.42 EPS, Q3 2018 earnings at $1.61 EPS, FY2018 earnings at $5.89 EPS, FY2019 earnings at $6.99 EPS and FY2020 earnings at $8.45 EPS.
Several other research firms have also recently issued reports on CVX. Piper Jaffray Companies reissued a “buy” rating on shares of Chevron Corporation in a research note on Thursday, August 3rd. BidaskClub cut Chevron Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Wells Fargo & Company cut Chevron Corporation to an “outperform” rating and cut their target price for the stock from $124.00 to $102.00 in a research note on Monday, July 17th. Citigroup Inc. raised their target price on Chevron Corporation from $118.00 to $128.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $123.00 target price (up previously from $118.00) on shares of Chevron Corporation in a research note on Tuesday, September 19th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $120.45.
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Shares of Chevron Corporation (NYSE:CVX) traded down 0.03% during trading on Tuesday, reaching $114.35. The company’s stock had a trading volume of 1,273,925 shares. Chevron Corporation has a 1-year low of $100.95 and a 1-year high of $120.89. The stock has a 50 day moving average of $117.19 and a 200-day moving average of $109.10. The company has a market capitalization of $216.69 billion, a PE ratio of 37.08 and a beta of 1.24.
Chevron Corporation (NYSE:CVX) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.04. The company had revenue of $36.21 billion for the quarter, compared to the consensus estimate of $34.06 billion. Chevron Corporation had a return on equity of 4.59% and a net margin of 4.79%. Chevron Corporation’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.68 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Thursday, November 16th. Chevron Corporation’s dividend payout ratio (DPR) is 125.95%.
In other Chevron Corporation 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 transaction of $3,431,080.00. Following the completion of the sale, the insider now directly owns 11,000 shares of the company’s stock, valued at approximately $1,217,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP R. Hewitt Pate sold 25,500 shares of Chevron Corporation stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $120.00, for a total value of $3,060,000.00. Following the sale, the vice president now directly owns 25,500 shares of the company’s stock, valued at $3,060,000. The disclosure for this sale can be found here. Insiders have sold a total of 97,812 shares of company stock valued at $11,068,343 over the last ninety days. 0.38% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Villere ST Denis J & Co. LLC lifted its holdings in Chevron Corporation by 2.7% during the 3rd quarter. Villere ST Denis J & Co. LLC now owns 56,613 shares of the oil and gas company’s stock worth $6,652,000 after buying an additional 1,465 shares during the last quarter. Palisade Capital Management LLC NJ lifted its holdings in Chevron Corporation by 1.3% during the 3rd quarter. Palisade Capital Management LLC NJ now owns 36,875 shares of the oil and gas company’s stock worth $4,333,000 after buying an additional 485 shares during the last quarter. Artemis Investment Management LLP lifted its holdings in Chevron Corporation by 1,436.8% during the 3rd quarter. Artemis Investment Management LLP now owns 376,691 shares of the oil and gas company’s stock worth $44,250,000 after buying an additional 352,180 shares during the last quarter. Berkshire Asset Management LLC PA lifted its holdings in Chevron Corporation by 3.4% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 17,684 shares of the oil and gas company’s stock worth $2,078,000 after buying an additional 577 shares during the last quarter. Finally, Boston Financial Mangement LLC lifted its holdings in Chevron Corporation by 0.5% during the 3rd quarter. Boston Financial Mangement LLC now owns 159,308 shares of the oil and gas company’s stock worth $18,719,000 after buying an additional 805 shares during the last quarter. 62.90% of the stock is owned by institutional investors.
About Chevron Corporation
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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