Chevron (NYSE:CVX) Announces Earnings Results

Chevron (NYSE:CVX) issued its earnings results on Friday. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38), RTT News reports. The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.08 EPS.

Chevron Trading Down 2.6 %

NYSE:CVX traded down $3.89 on Monday, reaching $144.66. The company’s stock had a trading volume of 12,893,430 shares, compared to its average volume of 7,894,527. The firm has a market cap of $266.60 billion, a PE ratio of 13.23, a PEG ratio of 2.45 and a beta of 1.10. The business’s 50-day moving average price is $156.37 and its two-hundred day moving average price is $156.09. Chevron has a 1-year low of $139.62 and a 1-year high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be given a $1.63 dividend. The ex-dividend date is Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.51%. Chevron’s payout ratio is 59.98%.

Wall Street Analyst Weigh In

CVX has been the subject of several research analyst reports. UBS Group boosted their price objective on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Wolfe Research initiated coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Mizuho boosted their price objective on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Royal Bank of Canada cut their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Wells Fargo & Company raised their price objective on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.88.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the sale, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $165.24, for a total transaction of $421,196.76. Following the completion of the transaction, the director now directly owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the sale, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

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.