Chevron Corporation (CVX) Issues Earnings Results

Chevron Corporation (NYSE:CVX) announced its earnings results on Friday. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04, Briefing.com reports. The company had revenue of $36.21 billion for the quarter, compared to analyst estimates of $34.06 billion. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.68 earnings per share.

Chevron Corporation (CVX) opened at 113.54 on Friday. Chevron Corporation has a 1-year low of $102.55 and a 1-year high of $120.89. The firm has a 50-day moving average of $117.09 and a 200 day moving average of $109.04. The firm has a market cap of $215.16 billion, a P/E ratio of 36.82 and a beta of 1.24.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be paid a $1.08 dividend. The ex-dividend date is Thursday, November 16th. This represents a $4.32 annualized dividend and a yield of 3.80%. Chevron Corporation’s dividend payout ratio is presently 125.95%.

In other news, VP R. Hewitt Pate sold 25,500 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $120.00, for a total value of $3,060,000.00. Following the completion of the sale, the vice president now owns 25,500 shares of the company’s stock, valued at approximately $3,060,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Linnet F. Deily sold 2,312 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total transaction of $248,262.56. The disclosure for this sale can be found here. Insiders sold a total of 97,812 shares of company stock valued at $11,068,343 in the last three months. Insiders own 0.38% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HPM Partners LLC increased its position in shares of Chevron Corporation by 197.0% in the 1st quarter. HPM Partners LLC now owns 38,735 shares of the oil and gas company’s stock worth $4,159,000 after purchasing an additional 25,691 shares during the last quarter. Lincoln National Corp increased its position in shares of Chevron Corporation by 33.3% in the 1st quarter. Lincoln National Corp now owns 82,502 shares of the oil and gas company’s stock worth $8,859,000 after purchasing an additional 20,615 shares during the last quarter. Adams Natural Resources Fund Inc. increased its position in shares of Chevron Corporation by 8.8% in the 2nd quarter. Adams Natural Resources Fund Inc. now owns 596,800 shares of the oil and gas company’s stock worth $62,264,000 after purchasing an additional 48,100 shares during the last quarter. Strategic Financial Group LLC increased its position in shares of Chevron Corporation by 6.0% in the 1st quarter. Strategic Financial Group LLC now owns 8,979 shares of the oil and gas company’s stock worth $964,000 after purchasing an additional 510 shares during the last quarter. Finally, Rothschild Investment Corp IL increased its position in shares of Chevron Corporation by 2.3% in the 1st quarter. Rothschild Investment Corp IL now owns 41,232 shares of the oil and gas company’s stock worth $4,427,000 after purchasing an additional 919 shares during the last quarter. 62.79% of the stock is owned by institutional investors.

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A number of research firms have recently weighed in on CVX. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Chevron Corporation in a research report on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $130.00 price objective on shares of Chevron Corporation in a research report on Tuesday, October 3rd. BidaskClub lowered Chevron Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Wells Fargo & Company lowered Chevron Corporation to an “outperform” rating and cut their price objective for the stock from $124.00 to $102.00 in a research report on Monday, July 17th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $123.00 price objective (up previously from $118.00) on shares of Chevron Corporation in a research report on Tuesday, September 19th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $119.66.

About Chevron Corporation

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

Earnings History for Chevron Corporation (NYSE:CVX)

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