Chevron Co. (NYSE:CVX) Expected to Announce Earnings of $1.96 Per Share

Brokerages forecast that Chevron Co. (NYSE:CVX) will post earnings of $1.96 per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Chevron’s earnings, with estimates ranging from $1.68 to $2.22. Chevron reported earnings of $1.78 per share during the same quarter last year, which suggests a positive year over year growth rate of 10.1%. The business is expected to report its next quarterly earnings report before the market opens on Friday, August 2nd.

According to Zacks, analysts expect that Chevron will report full year earnings of $7.59 per share for the current fiscal year, with EPS estimates ranging from $6.20 to $8.97. For the next fiscal year, analysts forecast that the firm will post earnings of $9.38 per share, with EPS estimates ranging from $6.97 to $16.75. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Chevron.

Chevron (NYSE:CVX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.13. The firm had revenue of $35.20 billion during the quarter, compared to the consensus estimate of $38.42 billion. Chevron had a return on equity of 9.07% and a net margin of 8.45%. The company’s revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.90 EPS.

A number of analysts have recently weighed in on CVX shares. Citigroup started coverage on Chevron in a research report on Monday, May 13th. They set a “buy” rating and a $135.00 target price for the company. Morgan Stanley started coverage on Chevron in a research report on Friday, April 12th. They set an “overweight” rating and a $150.00 price objective for the company. Bank of America upgraded Chevron from a “neutral” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Friday, April 12th. Cowen restated a “buy” rating and set a $142.00 price objective on shares of Chevron in a research report on Wednesday, April 17th. Finally, Zacks Investment Research downgraded Chevron from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $135.83.

Shares of NYSE:CVX traded up $0.19 during trading on Tuesday, reaching $123.54. 3,458,858 shares of the company traded hands, compared to its average volume of 5,148,160. The business’s 50 day moving average price is $120.91. The company has a market capitalization of $235.31 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 3.63 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 0.90. Chevron has a 52 week low of $100.22 and a 52 week high of $128.55.

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were given a $1.19 dividend. The ex-dividend date was Thursday, May 16th. This represents a $4.76 annualized dividend and a yield of 3.85%. Chevron’s dividend payout ratio is presently 57.70%.

In other Chevron news, insider James William Johnson sold 4,750 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $125.60, for a total value of $596,600.00. Following the completion of the transaction, the insider now directly owns 4,750 shares in the company, valued at $596,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,100 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $121.75, for a total value of $255,675.00. Following the completion of the transaction, the director now owns 15,689 shares of the company’s stock, valued at $1,910,135.75. The disclosure for this sale can be found here. Insiders sold 44,800 shares of company stock valued at $5,604,221 over the last quarter. Corporate insiders own 0.31% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Hedeker Wealth LLC raised its position in Chevron by 0.7% in the fourth quarter. Hedeker Wealth LLC now owns 18,961 shares of the oil and gas company’s stock valued at $2,062,000 after purchasing an additional 134 shares during the last quarter. Gateway Investment Advisers LLC increased its stake in shares of Chevron by 0.7% in the fourth quarter. Gateway Investment Advisers LLC now owns 1,033,875 shares of the oil and gas company’s stock valued at $112,475,000 after buying an additional 6,695 shares during the period. Cordatus Wealth Management LLC acquired a new stake in shares of Chevron in the fourth quarter valued at about $473,000. Independent Investors Inc. increased its stake in shares of Chevron by 35.2% in the fourth quarter. Independent Investors Inc. now owns 7,300 shares of the oil and gas company’s stock valued at $794,000 after buying an additional 1,900 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Chevron by 320.3% in the third quarter. Renaissance Technologies LLC now owns 2,855,084 shares of the oil and gas company’s stock valued at $349,120,000 after buying an additional 2,175,800 shares during the period. Hedge funds and other institutional investors own 65.39% of the company’s stock.

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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Earnings History and Estimates for Chevron (NYSE:CVX)

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