Chevron (NYSE:CVX) Announces Quarterly Earnings Results
Chevron (NYSE:CVX) reported quarterly earnings of $2.18 EPS, surpassing estimates of $2.15. Revenue was $47.61 billion, below the expected $49.05 billion, marking a 2.3% decline year-over-year. The company declared a quarterly dividend of $1.71, yielding 5.00%. Analysts have mixed ratings on Chevron, with a consensus average target price of $165.27. The stock traded at $136.77, with a market cap of $240.80 billion and a PE ratio of 14.08. Insider activity included VP Jeff B. Gustavson selling 9,325 shares.
Chevron (NYSE:CVX - Get Free Report) issued its quarterly earnings results on Friday. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.03, Zacks reports. The company had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. Chevron's revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.93 EPS.
Chevron Price Performance
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NYSE:CVX traded up $0.51 during mid-day trading on Friday, reaching $136.77. 2,429,810 shares of the company were exchanged, compared to its average volume of 7,948,939. Chevron has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average of $150.11 and a 200 day moving average of $152.59. The stock has a market cap of $240.80 billion, a PE ratio of 14.08, a PEG ratio of 1.46 and a beta of 0.93.
Chevron Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 5.00%. Chevron's dividend payout ratio is 70.37%.
Wall Street Analyst Weigh In
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A number of analysts recently weighed in on CVX shares. Wells Fargo & Company reduced their target price on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. UBS Group decreased their price target on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Redburn Atlantic restated a "sell" rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Finally, Raymond James cut their price target on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, Chevron currently has an average rating of "Hold" and an average target price of $165.27.
Get Our Latest Research Report on Chevron
Insider Activity at Chevron
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In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares of the company's stock, valued at $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.
About Chevron
(Get Free Report)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.
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