Chevron – $1.49 EPS Expected for Chevron Co. (NYSE:CVX) This Quarter
Brokerages forecast that Chevron Co. (NYSE:CVX) will announce earnings per share (EPS) of $1.49 for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Chevron’s earnings, with the lowest EPS estimate coming in at $1.18 and the highest estimate coming in at $1.92. Chevron posted earnings of ($1.59) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 193.7%. The business is scheduled to announce its next quarterly earnings report on Friday, July 30th.
According to Zacks, analysts expect that Chevron will report full year earnings of $5.44 per share for the current year, with EPS estimates ranging from $4.67 to $5.95. For the next fiscal year, analysts anticipate that the firm will report earnings of $5.84 per share, with EPS estimates ranging from $4.50 to $7.25. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Chevron.
Chevron (NYSE:CVX) last posted its earnings results on Thursday, April 29th. The oil and gas company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The company had revenue of $32.03 billion during the quarter, compared to the consensus estimate of $31.82 billion. Chevron had a negative net margin of 10.86% and a positive return on equity of 1.75%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.29 earnings per share.
CVX has been the topic of a number of recent research reports. Raymond James cut their target price on Chevron from $122.00 to $120.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 20th. Morgan Stanley raised their price target on Chevron from $113.00 to $127.00 and gave the company an “overweight” rating in a report on Wednesday, March 17th. Piper Sandler raised their price target on Chevron from $113.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, April 1st. The Goldman Sachs Group reissued a “neutral” rating and set a $113.00 price target (down from $117.00) on shares of Chevron in a report on Tuesday, April 13th. Finally, Jefferies Financial Group lowered Chevron from a “buy” rating to a “hold” rating and set a $98.00 price target on the stock. in a report on Thursday, January 21st. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $113.00.
In other Chevron news, Director Enrique Hernandez, Jr. sold 5,101 shares of the firm’s stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $110.79, for a total transaction of $565,139.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.28% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in shares of Chevron by 4.1% during the 1st quarter. BlackRock Inc. now owns 132,016,229 shares of the oil and gas company’s stock valued at $13,833,978,000 after buying an additional 5,193,990 shares during the last quarter. Capital International Investors lifted its holdings in shares of Chevron by 0.7% during the 1st quarter. Capital International Investors now owns 38,439,497 shares of the oil and gas company’s stock valued at $4,028,498,000 after buying an additional 252,442 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Chevron by 2.2% during the 1st quarter. Geode Capital Management LLC now owns 30,006,718 shares of the oil and gas company’s stock valued at $3,136,150,000 after buying an additional 658,579 shares during the last quarter. Norges Bank acquired a new stake in shares of Chevron during the 4th quarter valued at about $1,787,982,000. Finally, Morgan Stanley lifted its holdings in shares of Chevron by 6.4% during the 4th quarter. Morgan Stanley now owns 19,122,688 shares of the oil and gas company’s stock valued at $1,614,912,000 after buying an additional 1,158,022 shares during the last quarter. Hedge funds and other institutional investors own 62.27% of the company’s stock.
CVX stock opened at $109.47 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 1.26. The stock has a market capitalization of $211.06 billion, a price-to-earnings ratio of -17.83, a PEG ratio of 5.74 and a beta of 1.33. Chevron has a 1 year low of $65.16 and a 1 year high of $113.11. The stock’s fifty day moving average is $104.83 and its two-hundred day moving average is $94.36.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 10th. Shareholders of record on Wednesday, May 19th will be given a dividend of $1.34 per share. The ex-dividend date of this dividend is Tuesday, May 18th. This is a positive change from Chevron’s previous quarterly dividend of $1.29. This represents a $5.36 dividend on an annualized basis and a yield of 4.90%. Chevron’s dividend payout ratio (DPR) is presently 82.30%.
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.
Recommended Story: Environmental, Social, and Governance (ESG) Investing
Get a free copy of the Zacks research report on Chevron (CVX)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: How to invest using market indexes
8 EV Stocks To Electrify Your Growth Portfolio
If you are looking for the next hot growth market, a market at the intersection of multiple secular trends, look no further than the EV market. Electric vehicles. It may not sound like much, but the days of EV as a fringe market are over.
Think about this. There is an average of 90 million vehicles sold annually. That’s units, not dollars, total sales of vehicles topped $3.1 trillion in 2019, and the number is expected to grow over the long-term.
The EV market is less than 3.% of global vehicle sales, but it’s growing. EV is expected to account for more than 50% of the total auto-fleet by 2050, and that target could be reached much sooner if battery technology advances.
When it comes to the EV market, it’s a “rising tide lifts all ships” kind of market, but there are still some clear winners to focus on.
View the “8 EV Stocks To Electrify Your Growth Portfolio”.