Analysts expect Chevron Co. (NYSE:CVX) to report ($0.68) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Chevron’s earnings. The lowest EPS estimate is ($1.34) and the highest is ($0.40). Chevron posted earnings per share of $2.27 in the same quarter last year, which would indicate a negative year-over-year growth rate of 130%. The business is scheduled to announce its next quarterly earnings report on Friday, August 7th.
According to Zacks, analysts expect that Chevron will report full-year earnings of $0.27 per share for the current fiscal year, with EPS estimates ranging from ($1.14) to $1.43. For the next financial year, analysts anticipate that the company will report earnings of $1.11 per share, with EPS estimates ranging from ($2.40) to $3.56. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Chevron.
Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.93 EPS for the quarter, beating the consensus estimate of $0.64 by $1.29. The firm had revenue of $31.50 billion for the quarter, compared to analyst estimates of $30.46 billion. Chevron had a return on equity of 8.28% and a net margin of 2.71%. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.47 earnings per share.
Several equities analysts have issued reports on the company. JPMorgan Chase & Co. lifted their target price on Chevron from $103.00 to $109.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. Independent Research downgraded Chevron to a “hold” rating in a report on Tuesday, April 14th. Morgan Stanley reissued a “buy” rating and issued a $103.00 price target on shares of Chevron in a report on Friday, June 12th. Zacks Investment Research raised Chevron from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a report on Tuesday, May 26th. Finally, Mizuho lowered their price target on Chevron from $140.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $112.55.
Institutional investors have recently bought and sold shares of the company. Capital Wealth Planning LLC increased its position in shares of Chevron by 6.2% in the fourth quarter. Capital Wealth Planning LLC now owns 626,966 shares of the oil and gas company’s stock valued at $75,556,000 after buying an additional 36,574 shares in the last quarter. AXA increased its position in shares of Chevron by 6.3% in the fourth quarter. AXA now owns 661,816 shares of the oil and gas company’s stock valued at $79,755,000 after buying an additional 39,182 shares in the last quarter. Americana Partners LLC purchased a new stake in shares of Chevron in the fourth quarter valued at approximately $3,902,000. Keebeck Wealth Management LLC purchased a new stake in shares of Chevron in the fourth quarter valued at approximately $520,000. Finally, CVA Family Office LLC purchased a new stake in shares of Chevron during the fourth quarter worth approximately $432,000. Institutional investors and hedge funds own 64.86% of the company’s stock.
CVX opened at $89.23 on Wednesday. The business’s 50-day moving average is $92.24 and its two-hundred day moving average is $97.35. Chevron has a 1 year low of $51.60 and a 1 year high of $127.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.01 and a quick ratio of 0.78. The firm has a market capitalization of $163.68 billion, a PE ratio of 43.53, a price-to-earnings-growth ratio of 64.94 and a beta of 1.30.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were given a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 5.78%. The ex-dividend date of this dividend was Monday, May 18th. Chevron’s dividend payout ratio is currently 82.30%.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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