FY2018 EPS Estimates for Chevron Co. (CVX) Increased by Analyst

Chevron Co. (NYSE:CVX) – Equities researchers at Jefferies Group upped their FY2018 earnings per share (EPS) estimates for Chevron in a research note issued to investors on Friday. Jefferies Group analyst J. Gammel now anticipates that the oil and gas company will post earnings of $7.67 per share for the year, up from their previous forecast of $7.21. Jefferies Group has a “Buy” rating and a $140.00 price objective on the stock. Jefferies Group also issued estimates for Chevron’s FY2019 earnings at $7.59 EPS and FY2020 earnings at $9.17 EPS.

CVX has been the topic of several other reports. Morgan Stanley boosted their price target on Chevron from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Royal Bank of Canada set a $110.00 price target on Chevron and gave the company a “sell” rating in a research note on Wednesday, December 20th. Barclays boosted their price target on Chevron from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, October 10th. Zacks Investment Research raised Chevron from a “hold” rating to a “buy” rating and set a $129.00 price target on the stock in a research note on Friday, November 17th. Finally, Wells Fargo & Co reissued a “market perform” rating and issued a $108.00 price target (up from $100.00) on shares of Chevron in a research note on Tuesday, October 3rd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Chevron currently has an average rating of “Hold” and a consensus price target of $126.06.

Shares of Chevron (CVX) traded down $0.29 on Monday, reaching $131.30. The company’s stock had a trading volume of 6,048,900 shares, compared to its average volume of 5,958,446. Chevron has a 12-month low of $102.55 and a 12-month high of $133.88. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04. The firm has a market capitalization of $250,010.00, a price-to-earnings ratio of 38.28, a PEG ratio of 2.80 and a beta of 1.21.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.04. Chevron had a return on equity of 4.59% and a net margin of 4.79%. 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 previous year, the firm earned $0.68 earnings per share. The company’s revenue was up 20.1% compared to the same quarter last year.

In related news, Vice Chairman Michael K. Wirth sold 1,229 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total transaction of $145,022.00. Following the completion of the sale, the insider now owns 1,229 shares in the company, valued at $145,022. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Patricia E. Yarrington sold 116,857 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $115.29, for a total value of $13,472,443.53. Following the sale, the chief financial officer now owns 39,506 shares of the company’s stock, valued at approximately $4,554,646.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 288,500 shares of company stock valued at $33,480,822. Corporate insiders own 0.38% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Pathstone Family Office LLC grew its stake in Chevron by 2.5% in the 2nd quarter. Pathstone Family Office LLC now owns 813 shares of the oil and gas company’s stock valued at $2,170,000 after purchasing an additional 20 shares during the period. Shine Investment Advisory Services Inc. bought a new position in Chevron in the 2nd quarter valued at $106,000. Winfield Associates Inc. grew its stake in Chevron by 5.1% in the 2nd 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 during the period. Accurate Investment Solutions Inc. grew its stake in Chevron by 59.1% in the 3rd 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 during the period. Finally, Daiwa SB Investments Ltd. grew its stake in Chevron by 438.5% in the 2nd quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 1,140 shares during the period. Institutional investors and hedge funds own 63.87% of the company’s stock.

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About Chevron

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.

Earnings History and Estimates for Chevron (NYSE:CVX)

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