Chevron Co. (NYSE:CVX) Expected to Post Earnings of $1.80 Per Share

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Brokerages expect Chevron Co. (NYSE:CVX) to report $1.80 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Chevron’s earnings, with the highest EPS estimate coming in at $2.15 and the lowest estimate coming in at $1.42. Chevron posted earnings per share of $1.78 during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.1%. The firm is expected to announce 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 $6.94 per share for the current fiscal year, with EPS estimates ranging from $5.96 to $7.45. For the next fiscal year, analysts forecast that the company will report earnings of $7.75 per share, with EPS estimates ranging from $6.41 to $9.40. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Chevron.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.13. The company 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%. Chevron’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.90 EPS.

A number of analysts have issued reports on CVX shares. Cowen reaffirmed a “market perform” rating and set a $99.00 price target (up from $97.00) on shares of United Continental in a report on Wednesday, April 17th. Morgan Stanley set a $207.00 price target on Alibaba Group and gave the stock a “buy” rating in a report on Friday, July 12th. Bank of America set a $144.00 price target on Walt Disney and gave the stock a “buy” rating in a report on Friday, April 12th. Citigroup set a $13.00 price target on e.l.f. Beauty and gave the stock a “hold” rating in a report on Monday, May 13th. Finally, Zacks Investment Research cut GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Chevron presently has a consensus rating of “Buy” and an average target price of $135.72.

In related news, Director Enrique Hernandez, Jr. sold 2,100 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $121.75, for a total value of $255,675.00. Following the transaction, the director now owns 15,689 shares in the company, valued at approximately $1,910,135.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Michael K. Wirth sold 33,750 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $125.60, for a total value of $4,239,000.00. Following the completion of the transaction, the chairman now owns 33,750 shares in the company, valued at approximately $4,239,000. The disclosure for this sale can be found here. Insiders have sold 40,050 shares of company stock worth $5,007,621 in the last quarter. Insiders own 0.31% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Guidant Wealth Advisors lifted its stake in Chevron by 63.9% in the 2nd quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 101 shares in the last quarter. Evolution Wealth Advisors LLC purchased a new stake in Chevron in the 2nd quarter valued at approximately $34,000. CKW Financial Group lifted its stake in Chevron by 123.5% in the 4th quarter. CKW Financial Group now owns 362 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 200 shares in the last quarter. Cordasco Financial Network lifted its stake in Chevron by 55.3% in the 2nd quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock valued at $47,000 after buying an additional 135 shares in the last quarter. Finally, Highwater Wealth Management LLC purchased a new stake in Chevron in the 4th quarter valued at approximately $51,000. Hedge funds and other institutional investors own 65.55% of the company’s stock.

Shares of NYSE CVX opened at $123.72 on Wednesday. The stock has a market cap of $235.65 billion, a P/E ratio of 15.00, a price-to-earnings-growth ratio of 3.05 and a beta of 1.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 0.90. The business’s 50-day simple moving average is $123.77. Chevron has a 1 year low of $100.22 and a 1 year high of $128.55.

About Chevron

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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