Chevron Corporation (NYSE:CVX) posted its quarterly 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, Briefing.com reports. The company had revenue of $36.21 billion for the quarter, compared to the consensus estimate of $34.06 billion. Chevron Corporation had a net margin of 4.79% and a return on equity of 4.59%. Chevron Corporation’s revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 earnings per share.
Shares of Chevron Corporation (NYSE:CVX) traded down $0.06 during trading on Friday, reaching $117.18. The company had a trading volume of 5,156,800 shares, compared to its average volume of 5,550,811. Chevron Corporation has a 1-year low of $102.55 and a 1-year high of $120.89. The company has a market capitalization of $222,568.66, a P/E ratio of 32.82, a P/E/G ratio of 3.91 and a beta of 1.22. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Thursday, November 16th. Chevron Corporation’s payout ratio is 125.95%.
In other Chevron Corporation news, VP R. Hewitt Pate sold 25,500 shares of Chevron Corporation stock in a transaction on Monday, October 16th. The stock was sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the completion of the transaction, the vice president now owns 25,500 shares in the company, valued at $3,060,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total value of $145,022.00. Following the completion of the transaction, the insider now owns 1,229 shares of the company’s stock, valued at approximately $145,022. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,041 shares of company stock worth $3,453,285. Insiders own 0.38% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Shine Investment Advisory Services Inc. bought a new position in shares of Chevron Corporation during the second quarter valued at approximately $106,000. Thompson Davis & CO. Inc. boosted its position in Chevron Corporation by 20.0% during the 1st quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after acquiring an additional 191 shares in the last quarter. Winfield Associates Inc. boosted its position in Chevron Corporation by 5.1% during the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after acquiring an additional 63 shares in the last quarter. Daiwa SB Investments Ltd. boosted its position in Chevron Corporation by 438.5% during 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 acquiring an additional 1,140 shares in the last quarter. Finally, Acrospire Investment Management LLC boosted its position in Chevron Corporation by 133.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after acquiring an additional 800 shares in the last quarter. Institutional investors and hedge funds own 62.91% of the company’s stock.
Several research analysts have weighed in on CVX shares. Jefferies Group LLC reissued a “buy” rating and set a $137.00 price objective (up from $113.54) on shares of Chevron Corporation in a report on Monday, October 30th. Piper Jaffray Companies reissued a “buy” rating on shares of Chevron Corporation in a report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Chevron Corporation from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a report on Friday. BidaskClub downgraded shares of Chevron Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, Wells Fargo & Company downgraded shares of Chevron Corporation to an “outperform” rating and dropped their target price for the stock from $124.00 to $102.00 in a research report on Monday, July 17th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $120.63.
TRADEMARK VIOLATION NOTICE: This story was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this story on another website, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this story can be accessed at https://www.dispatchtribunal.com/2017/11/12/chevron-corporation-cvx-announces-quarterly-earnings-results.html.
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.
Receive News & Ratings for Chevron Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron Corporation and related companies with MarketBeat.com's FREE daily email newsletter.