Analysts Anticipate Chevron Corporation (CVX) Will Post Quarterly Sales of $36.61 Billion

Brokerages predict that Chevron Corporation (NYSE:CVX) will report sales of $36.61 billion for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Chevron’s earnings. The lowest sales estimate is $32.30 billion and the highest is $40.58 billion. Chevron reported sales of $31.50 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 16.2%. The business is scheduled to announce its next earnings report on Friday, January 26th.

According to Zacks, analysts expect that Chevron will report full-year sales of $36.61 billion for the current financial year, with estimates ranging from $139.69 billion to $144.68 billion. For the next fiscal year, analysts forecast that the firm will report sales of $146.60 billion per share, with estimates ranging from $133.18 billion to $165.51 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Chevron.

Chevron (NYSE:CVX) last released its earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.04. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The firm had revenue of $36.21 billion for the quarter, compared to analyst estimates of $34.06 billion. During the same period in the prior year, the firm earned $0.68 earnings per share. The business’s quarterly revenue was up 20.1% compared to the same quarter last year.

A number of research firms recently weighed in on CVX. Bank of America lowered shares of Chevron from a “buy” rating to a “hold” rating in a research note on Thursday. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research note on Wednesday, December 27th. Vetr upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $134.35 target price on the stock in a research note on Tuesday, December 26th. Scotiabank restated a “buy” rating and set a $130.00 target price on shares of Chevron in a research note on Friday, December 22nd. Finally, Royal Bank of Canada set a $110.00 target price on shares of Chevron and gave the stock a “sell” rating in a research note on Wednesday, December 20th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $125.15.

In other news, CFO Patricia E. Yarrington sold 13,143 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $115.01, for a total value of $1,511,576.43. Following the completion of the sale, the chief financial officer now directly owns 17,981 shares of the company’s stock, valued at $2,067,994.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP R. Hewitt Pate sold 25,500 shares of the stock in a transaction that occurred 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 completion of 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 sold 314,000 shares of company stock worth $36,540,822 over the last quarter. 0.38% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Chevron by 2.9% during the second quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock worth $14,567,210,000 after purchasing an additional 3,920,240 shares during the period. BlackRock Inc. lifted its holdings in shares of Chevron by 1.6% during the second quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock worth $13,007,759,000 after purchasing an additional 1,975,865 shares during the period. Capital World Investors lifted its holdings in shares of Chevron by 9.8% during the second quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock worth $3,708,603,000 after purchasing an additional 3,182,250 shares during the period. Northern Trust Corp lifted its holdings in shares of Chevron by 0.6% during the second quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock worth $2,728,558,000 after purchasing an additional 157,021 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Chevron by 0.3% during the second quarter. Franklin Resources Inc. now owns 15,609,647 shares of the oil and gas company’s stock worth $1,628,554,000 after purchasing an additional 49,083 shares during the period. 63.80% of the stock is owned by institutional investors and hedge funds.

Shares of Chevron (NYSE:CVX) opened at $128.51 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04. Chevron has a one year low of $102.55 and a one year high of $128.94. The firm has a market cap of $242,322.13, a P/E ratio of 37.47, a P/E/G ratio of 2.99 and a beta of 1.21.

The business also recently declared a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Friday, November 17th were paid a $1.08 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $4.32 annualized dividend and a yield of 3.36%. Chevron’s dividend payout ratio is currently 125.95%.

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Chevron 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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Earnings History and Estimates for Chevron (NYSE:CVX)

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