Wall Street brokerages expect that Chevron Co. (NYSE:CVX) will report earnings of $2.07 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Chevron’s earnings, with the highest EPS estimate coming in at $2.17 and the lowest estimate coming in at $1.90. Chevron reported earnings of $1.03 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 101%. The company is expected to report its next quarterly earnings results before the market opens on Friday, November 2nd.
According to Zacks, analysts expect that Chevron will report full-year earnings of $8.26 per share for the current year, with EPS estimates ranging from $7.80 to $8.68. For the next financial year, analysts anticipate that the company will post earnings of $10.26 per share, with EPS estimates ranging from $8.40 to $12.06. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Chevron.
Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, July 27th. The oil and gas company reported $1.78 earnings per share for the quarter, missing the consensus estimate of $2.09 by ($0.31). Chevron had a return on equity of 6.89% and a net margin of 7.87%. The company had revenue of $42.24 billion during the quarter, compared to the consensus estimate of $46.62 billion. During the same quarter last year, the firm earned $0.77 EPS. The business’s revenue for the quarter was up 22.5% on a year-over-year basis.
Several research firms recently weighed in on CVX. Redburn Partners cut shares of Chevron from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $130.00 to $115.00 in a research report on Wednesday, October 3rd. Goldman Sachs Group upgraded shares of Chevron from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, October 2nd. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $137.00 target price for the company in a research report on Monday, October 1st. Royal Bank of Canada set a $150.00 target price on shares of Chevron and gave the company a “hold” rating in a research report on Thursday, September 20th. Finally, HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research report on Tuesday, September 11th. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $137.17.
CVX stock traded up $0.67 during trading on Friday, hitting $118.14. The company had a trading volume of 7,784,360 shares, compared to its average volume of 6,244,772. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 0.87. Chevron has a 12 month low of $108.02 and a 12 month high of $133.88. The stock has a market capitalization of $225.09 billion, a PE ratio of 31.93, a price-to-earnings-growth ratio of 2.03 and a beta of 1.07.
In other news, insider James William Johnson sold 4,750 shares of the business’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $116.00, for a total value of $551,000.00. Following the completion of the transaction, the insider now owns 4,750 shares of the company’s stock, valued at approximately $551,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. Dumont & Blake Investment Advisors LLC boosted its stake in Chevron by 4.7% in the 3rd quarter. Dumont & Blake Investment Advisors LLC now owns 12,775 shares of the oil and gas company’s stock worth $1,562,000 after purchasing an additional 575 shares during the period. Cypress Wealth Services LLC boosted its stake in Chevron by 3.8% in the 3rd quarter. Cypress Wealth Services LLC now owns 33,752 shares of the oil and gas company’s stock worth $4,127,000 after purchasing an additional 1,230 shares during the period. Abner Herrman & Brock LLC boosted its stake in Chevron by 6.6% in the 3rd quarter. Abner Herrman & Brock LLC now owns 39,913 shares of the oil and gas company’s stock worth $4,881,000 after purchasing an additional 2,459 shares during the period. West Coast Financial LLC boosted its stake in Chevron by 12.4% in the 3rd quarter. West Coast Financial LLC now owns 10,303 shares of the oil and gas company’s stock worth $1,260,000 after purchasing an additional 1,137 shares during the period. Finally, Cypress Asset Management Inc. TX boosted its stake in Chevron by 2.3% in the 3rd quarter. Cypress Asset Management Inc. TX now owns 36,236 shares of the oil and gas company’s stock worth $4,431,000 after purchasing an additional 802 shares during the period. 64.60% of the stock is owned by institutional investors.
Chevron Company Profile
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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