Analysts Expect Chevron Co. (CVX) to Post $1.27 Earnings Per Share

Wall Street brokerages predict that Chevron Co. (NYSE:CVX) will announce $1.27 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Chevron’s earnings, with estimates ranging from $1.13 to $1.58. Chevron posted earnings of $0.22 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 477.3%. The business is expected to announce its next quarterly earnings results before the market opens on Friday, February 2nd.

According to Zacks, analysts expect that Chevron will report full year earnings of $4.39 per share for the current year, with EPS estimates ranging from $4.10 to $4.79. For the next year, analysts expect that the firm will report earnings of $5.86 per share, with EPS estimates ranging from $4.56 to $7.67. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Chevron.

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

CVX has been the subject of several research analyst reports. TheStreet raised Chevron from a “c+” rating to a “b” rating in a research note on Monday, October 23rd. Jefferies Group reissued a “buy” rating and issued a $137.00 price objective on shares of Chevron in a research note on Thursday, October 19th. Bank of America reaffirmed a “buy” rating and issued a $125.00 target price (up from $120.00) on shares of Chevron in a research report on Tuesday, October 3rd. Citigroup upped their target price on Chevron from $118.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday, October 30th. Finally, Zacks Investment Research raised Chevron from a “hold” rating to a “buy” rating and set a $127.00 target price on the stock in a research report on Tuesday, October 31st. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $126.06.

In other news, CFO Patricia E. Yarrington sold 13,143 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the transaction, the chief financial officer now owns 17,981 shares of the company’s stock, valued at approximately $2,067,994.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Pierre R. Breber sold 23,250 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $119.00, for a total value of $2,766,750.00. Following the transaction, the insider now directly owns 42,182 shares in the company, valued at approximately $5,019,658. The disclosure for this sale can be found here. In the last three months, insiders have sold 288,500 shares of company stock worth $33,480,822. 0.38% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Chevron by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock valued at $14,567,210,000 after buying an additional 3,920,240 shares during the last quarter. BlackRock Inc. lifted its position in shares of Chevron by 1.6% in the 2nd quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock worth $13,007,759,000 after acquiring an additional 1,975,865 shares during the period. Capital World Investors lifted its position in shares of Chevron by 9.8% in the 2nd quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock worth $3,708,603,000 after acquiring an additional 3,182,250 shares during the period. Northern Trust Corp lifted its position in shares of Chevron by 0.6% in the 2nd quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock worth $2,728,558,000 after acquiring an additional 157,021 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Chevron by 0.3% in the 2nd quarter. Franklin Resources Inc. now owns 15,609,647 shares of the oil and gas company’s stock worth $1,628,554,000 after acquiring an additional 49,083 shares during the period. 63.87% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Chevron (CVX) traded up $1.26 during trading on Friday, reaching $132.56. The company had a trading volume of 5,250,000 shares, compared to its average volume of 5,470,000. The stock has a market cap of $251,780.00, a P/E ratio of 38.65, a P/E/G ratio of 2.80 and a beta of 1.21. 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 1 year low of $102.55 and a 1 year high of $133.88.

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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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