Chevron (CVX) Set to Announce Quarterly Earnings on Friday

Chevron (NYSE:CVX) will be releasing its earnings data before the market opens on Friday, April 26th. Analysts expect Chevron to post earnings of $3.06 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same quarter in the previous year, the business earned $4.09 EPS. Chevron’s revenue was down 16.5% compared to the same quarter last year. On average, analysts expect Chevron to post $14 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Chevron Stock Performance

CVX stock opened at $157.49 on Friday. Chevron has a twelve month low of $139.62 and a twelve month high of $172.38. The firm has a market cap of $292.50 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 2.30 and a beta of 1.12. The business’s fifty day simple moving average is $155.26 and its two-hundred day simple moving average is $151.90. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.14%. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. Chevron’s payout ratio is 57.39%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Barclays began coverage on Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research note on Monday, January 8th. Finally, Royal Bank of Canada upped their price objective on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $184.75.

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Moneta Group Investment Advisors LLC boosted its position in Chevron by 104,997.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after buying an additional 24,467,521 shares during the last quarter. Norges Bank purchased a new stake in shares of Chevron in the 4th quarter valued at $3,058,235,000. Imprint Wealth LLC increased its stake in shares of Chevron by 15,457.0% in the second quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock worth $537,835,000 after acquiring an additional 5,343,782 shares during the period. Morgan Stanley increased its stake in shares of Chevron by 12.7% in the fourth quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after acquiring an additional 3,711,923 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Chevron by 25.3% during the fourth quarter. Legal & General Group Plc now owns 13,813,801 shares of the oil and gas company’s stock worth $2,060,465,000 after purchasing an additional 2,788,395 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. 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 of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.