Analysts Issue Forecasts for Chevron Co.’s Q1 2018 Earnings (CVX)

Chevron Co. (NYSE:CVX) – Analysts at Piper Jaffray issued their Q1 2018 earnings per share estimates for shares of Chevron in a research note issued to investors on Sunday, April 22nd. Piper Jaffray analyst G. Baber anticipates that the oil and gas company will post earnings of $1.55 per share for the quarter. Piper Jaffray currently has a “Buy” rating and a $140.00 target price on the stock. Piper Jaffray also issued estimates for Chevron’s Q2 2018 earnings at $1.66 EPS, Q3 2018 earnings at $1.79 EPS, Q4 2018 earnings at $1.59 EPS, Q1 2019 earnings at $1.62 EPS, Q2 2019 earnings at $1.79 EPS, Q3 2019 earnings at $1.77 EPS, Q4 2019 earnings at $1.58 EPS and Q1 2020 earnings at $1.49 EPS.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.54). Chevron had a net margin of 6.49% and a return on equity of 5.22%. The business had revenue of $37.62 billion for the quarter, compared to analysts’ expectations of $38.43 billion. During the same quarter in the prior year, the firm earned $0.22 EPS. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis.

A number of other research analysts also recently issued reports on CVX. Vetr upgraded Chevron from a “hold” rating to a “buy” rating and set a $134.35 price target on the stock in a report on Tuesday, December 26th. Zacks Investment Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Wednesday, December 27th. Bank of America downgraded Chevron from a “buy” rating to a “neutral” rating and set a $125.00 price target on the stock. in a report on Thursday, January 4th. They noted that the move was a valuation call. BMO Capital Markets upgraded Chevron from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $120.00 to $140.00 in a report on Thursday, January 11th. Finally, HSBC downgraded Chevron from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $131.02.

Shares of NYSE:CVX opened at $122.54 on Wednesday. Chevron has a 1 year low of $102.55 and a 1 year high of $133.88. The stock has a market cap of $236,069.08, a P/E ratio of 30.29, a price-to-earnings-growth ratio of 2.41 and a beta of 1.16. The company has a current ratio of 1.03, a quick ratio of 0.83 and a debt-to-equity ratio of 0.22.

In other news, VP R. Hewitt Pate sold 25,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 17th. The stock was sold at an average price of $121.97, for a total value of $3,110,235.00. Following the sale, the vice president now directly owns 25,500 shares of the company’s stock, valued at approximately $3,110,235. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Earnest Partners LLC bought a new position in Chevron in the 4th quarter valued at approximately $114,000. Virtue Capital Management LLC purchased a new stake in Chevron during the 4th quarter valued at $128,000. Acrospire Investment Management LLC raised its stake in Chevron 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 buying an additional 800 shares during the last quarter. Accurate Investment Solutions Inc. raised its stake in Chevron by 59.1% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock valued at $159,000 after buying an additional 502 shares during the last quarter. Finally, Fusion Family Wealth LLC raised its stake in Chevron by 192.6% during the 4th quarter. Fusion Family Wealth LLC now owns 1,273 shares of the oil and gas company’s stock valued at $159,000 after buying an additional 838 shares during the last quarter. 64.98% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Earnings History and Estimates for Chevron (NYSE:CVX)

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