Chevron (NYSE:CVX) Posts Earnings Results, Beats Estimates By $0.09 EPS

Chevron (NYSE:CVX) released its quarterly earnings results on Friday. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09, RTT News reports. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same period last year, the firm earned $3.55 earnings per share. The firm’s revenue was down 4.1% on a year-over-year basis.

Chevron Price Performance

NYSE:CVX traded up $0.61 during mid-day trading on Friday, hitting $165.89. 9,736,350 shares of the stock traded hands, compared to its average volume of 7,082,480. The business’s 50-day moving average price is $156.58 and its 200 day moving average price is $151.73. The company has a market cap of $308.10 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 2.44 and a beta of 1.12. Chevron has a 12-month low of $139.62 and a 12-month high of $171.70. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a dividend of $1.63 per share. 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 is currently 59.98%.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent analyst reports. Mizuho raised their price target on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Wells Fargo & Company lifted their price objective on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research report on Monday, January 8th. Raymond James lifted their price objective on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $184.75.

Chevron Company Profile

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.