Chevron (NYSE:CVX – Get Rating) is scheduled to issue its quarterly earnings data before the market opens on Friday, April 29th. Analysts expect the company to announce earnings of $3.23 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.
Chevron (NYSE:CVX – Get Rating) last issued its earnings results on Friday, January 28th. The oil and gas company reported $2.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.11 by ($0.55). Chevron had a net margin of 9.62% and a return on equity of 11.50%. The firm had revenue of $48.22 billion during the quarter, compared to analyst estimates of $45.22 billion. During the same quarter last year, the business posted ($0.01) earnings per share. The company’s revenue for the quarter was up 91.0% on a year-over-year basis. On average, analysts expect Chevron to post $15 EPS for the current fiscal year and $13 EPS for the next fiscal year.
Shares of NYSE:CVX opened at $164.58 on Friday. Chevron has a 52-week low of $92.86 and a 52-week high of $174.76. The company has a market capitalization of $323.36 billion, a P/E ratio of 20.22, a price-to-earnings-growth ratio of 0.88 and a beta of 1.14. The company has a 50-day simple moving average of $158.68 and a 200 day simple moving average of $132.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.26.
In related news, VP R. Hewitt Pate sold 65,000 shares of the company’s stock in a transaction that occurred on Thursday, January 27th. The shares were sold at an average price of $135.00, for a total transaction of $8,775,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Colin E. Parfitt sold 15,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $132.91, for a total transaction of $2,060,105.00. The disclosure for this sale can be found here. In the last three months, insiders sold 450,933 shares of company stock worth $61,715,578. Insiders own 0.29% of the company’s stock.
Several large investors have recently modified their holdings of the company. Keudell Morrison Wealth Management increased its holdings in shares of Chevron by 1.8% in the 3rd quarter. Keudell Morrison Wealth Management now owns 19,531 shares of the oil and gas company’s stock worth $1,981,000 after buying an additional 340 shares during the last quarter. Carroll Investors Inc bought a new position in shares of Chevron in the 4th quarter worth $50,000. Monolith Advisors bought a new position in shares of Chevron in the 4th quarter worth $65,000. Ulland Investment Advisors LLC purchased a new stake in shares of Chevron in the 4th quarter valued at $84,000. Finally, Eagle Capital Management LLC boosted its stake in shares of Chevron by 3.1% in the 2nd quarter. Eagle Capital Management LLC now owns 34,480 shares of the oil and gas company’s stock valued at $3,611,000 after purchasing an additional 1,047 shares in the last quarter. 65.32% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have weighed in on CVX. Zacks Investment Research cut shares of Chevron from a “strong-buy” rating to a “hold” rating and set a $176.00 price target on the stock. in a report on Tuesday, March 29th. Royal Bank of Canada cut shares of Chevron from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $160.00 to $165.00 in a report on Thursday. Truist Financial raised their target price on shares of Chevron from $160.00 to $186.00 in a report on Thursday. Barclays raised their target price on shares of Chevron from $148.00 to $183.00 in a report on Wednesday, March 9th. Finally, The Goldman Sachs Group increased their price target on shares of Chevron from $154.00 to $176.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $160.59.
About Chevron (Get Rating)
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation 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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