Chevron Corporation (CVX) Expected to Earn Q4 2017 Earnings of $1.19 Per Share
Chevron Corporation (NYSE:CVX) – Equities research analysts at Jefferies Group issued their Q4 2017 earnings per share estimates for Chevron Corporation in a report issued on Monday. Jefferies Group analyst J. Gammel anticipates that the oil and gas company will post earnings of $1.19 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 Q4 2018 earnings at $1.55 EPS.
CVX has been the topic of several other reports. Morgan Stanley lifted their price objective on Chevron Corporation from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Barclays PLC lifted their price objective on Chevron Corporation from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, October 10th. Piper Jaffray Companies set a $119.00 target price on Chevron Corporation and gave the stock a “buy” rating in a research report on Friday, August 25th. Wells Fargo & Company lowered Chevron Corporation to an “outperform” rating and decreased their target price for the stock from $124.00 to $102.00 in a research report on Monday, July 17th. Finally, Scotiabank reiterated a “buy” rating on shares of Chevron Corporation in a research report on Friday, September 15th. Three equities research 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 presently has an average rating of “Buy” and an average target price of $120.45.
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Shares of Chevron Corporation (NYSE:CVX) traded up 0.280% during trading on Wednesday, hitting $116.215. The stock had a trading volume of 1,678,283 shares. The company has a market cap of $220.23 billion, a P/E ratio of 37.683 and a beta of 1.24. The stock’s 50-day moving average price is $117.29 and its 200-day moving average price is $109.15. Chevron Corporation has a one year low of $100.95 and a one year high of $120.89.
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, topping the Zacks’ consensus estimate of $0.99 by $0.04. Chevron Corporation had a return on equity of 4.59% and a net margin of 4.79%. The business had revenue of $36.21 billion during the quarter, compared to the consensus estimate of $34.06 billion. During the same period in the previous year, the company posted $0.68 earnings per share. The business’s revenue for the quarter was up 20.1% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be issued a dividend of $1.08 per share. The ex-dividend date is Thursday, November 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.73%. Chevron Corporation’s dividend payout ratio is 125.95%.
In other news, Director Linnet F. Deily sold 2,312 shares of Chevron Corporation stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total transaction of $248,262.56. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP R. Hewitt Pate sold 25,500 shares of Chevron Corporation stock in a transaction on Monday, October 16th. The shares were sold at an average price of $120.00, for a total value of $3,060,000.00. Following the transaction, the vice president now owns 25,500 shares in the company, valued at approximately $3,060,000. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Pathstone Family Office LLC grew its holdings in shares of Chevron Corporation by 2.5% during the second quarter. Pathstone Family Office LLC now owns 813 shares of the oil and gas company’s stock valued at $2,170,000 after buying an additional 20 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new position in Chevron Corporation in the second quarter valued at about $106,000. Thompson Davis & CO. Inc. grew its stake in Chevron Corporation by 20.0% in the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after purchasing an additional 191 shares in the last quarter. Winfield Associates Inc. grew its stake in Chevron Corporation by 5.1% in the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after purchasing an additional 63 shares in the last quarter. Finally, Accurate Investment Solutions Inc. grew its stake in Chevron Corporation by 59.1% in the third quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock valued at $159,000 after purchasing an additional 502 shares in the last quarter. Institutional investors and hedge funds own 62.90% of the company’s stock.
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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