Jefferies Group Comments on Chevron Co.’s Q1 2018 Earnings (CVX)

Chevron Co. (NYSE:CVX) – Jefferies Group issued their Q1 2018 earnings per share estimates for Chevron in a research note issued on Monday. Jefferies Group analyst J. Gammel expects that the oil and gas company will earn $1.54 per share for the quarter. Jefferies Group has a “Buy” rating and a $140.00 price target on the stock. Jefferies Group also issued estimates for Chevron’s Q2 2018 earnings at $1.76 EPS, Q3 2018 earnings at $1.80 EPS, Q4 2018 earnings at $1.64 EPS, FY2018 earnings at $6.74 EPS, FY2019 earnings at $7.03 EPS and FY2020 earnings at $8.64 EPS.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.54). The business had revenue of $37.62 billion during the quarter, compared to analyst estimates of $38.43 billion. Chevron had a net margin of 6.49% and a return on equity of 5.23%. The company’s revenue was up 19.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 earnings per share.

CVX has been the subject 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 report on Wednesday, October 18th. Royal Bank of Canada set a $110.00 price objective on Chevron and gave the stock a “sell” rating in a report on Wednesday, December 20th. Barclays upped their price objective on Chevron from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, October 10th. Wells Fargo & Co dropped their price objective on Chevron from $125.00 to $125.00 and set an “outperform” rating for the company in a report on Monday. Finally, Zacks Investment Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $129.00 price objective for the company in a report on Friday, November 17th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Chevron presently has an average rating of “Buy” and an average target price of $129.84.

Chevron (CVX) opened at $117.18 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $213,907.50, a price-to-earnings ratio of 24.16, a price-to-earnings-growth ratio of 2.16 and a beta of 1.15. Chevron has a twelve month low of $102.55 and a twelve month high of $133.88.

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.82%. This is a boost from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date is Thursday, February 15th. Chevron’s dividend payout ratio is 89.07%.

In related news, EVP Michael K. Wirth sold 110,771 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $116.17, for a total transaction of $12,868,267.07. Following the completion of the sale, the executive vice president now directly owns 110,771 shares of the company’s stock, valued at approximately $12,868,267.07. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Pierre R. Breber sold 23,250 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $116.85, for a total transaction of $2,716,762.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 287,271 shares of company stock valued at $33,335,800. 0.38% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of CVX. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its position in Chevron by 1.3% in the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 50,147 shares of the oil and gas company’s stock valued at $5,232,000 after buying an additional 661 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in Chevron by 515.4% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 310,484 shares of the oil and gas company’s stock valued at $32,393,000 after buying an additional 260,030 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in Chevron by 4.1% in the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 28,128 shares of the oil and gas company’s stock valued at $2,935,000 after buying an additional 1,100 shares during the last quarter. LVM Capital Management Ltd. MI boosted its position in Chevron by 2.1% in the 2nd quarter. LVM Capital Management Ltd. MI now owns 28,510 shares of the oil and gas company’s stock valued at $2,974,000 after buying an additional 590 shares during the last quarter. Finally, Boyd Watterson Asset Management LLC OH boosted its position in Chevron by 5.1% in the 2nd quarter. Boyd Watterson Asset Management LLC OH now owns 8,770 shares of the oil and gas company’s stock valued at $915,000 after buying an additional 428 shares during the last quarter. 64.06% of the stock is owned by institutional investors.

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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.

Earnings History and Estimates for Chevron (NYSE:CVX)

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