Chevron (NYSE:CVX) Posts Quarterly Earnings Results

Chevron (NYSE:CVX) issued its quarterly earnings data on Friday. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09, RTT News reports. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same quarter last year, the company posted $3.55 earnings per share. The business’s quarterly revenue was down 4.1% compared to the same quarter last year.

Chevron Trading Up 0.4 %

CVX traded up $0.61 during trading on Friday, hitting $165.89. The company’s stock had a trading volume of 9,736,350 shares, compared to its average volume of 7,082,480. The firm’s 50 day moving average price is $156.58 and its 200-day moving average price is $151.73. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The stock has a market cap of $308.10 billion, a PE ratio of 15.26, a PEG ratio of 2.44 and a beta of 1.12. Chevron has a twelve month low of $139.62 and a twelve month high of $171.70.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 3.93%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Mizuho increased their target price on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a research note on Tuesday, February 6th. Barclays assumed coverage on shares of Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. Finally, UBS Group raised their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

About Chevron

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.