Chevron (NYSE:CVX) Releases Earnings Results, Beats Expectations By $0.26 EPS

Chevron (NYSE:CVXGet Free Report) posted its quarterly earnings data on Friday. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26, MarketWatch Earnings reports. Chevron had a return on equity of 16.15% and a net margin of 12.11%. The business had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same period in the previous year, the business earned $4.09 earnings per share. The business’s revenue was down 16.5% compared to the same quarter last year.

Chevron Trading Up 2.9 %

Shares of CVX stock traded up $4.35 on Friday, hitting $152.24. The stock had a trading volume of 12,839,063 shares, compared to its average volume of 8,881,872. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.97. The firm has a market capitalization of $287.39 billion, a P/E ratio of 13.40, a P/E/G ratio of 0.82 and a beta of 1.13. Chevron has a 1 year low of $139.62 and a 1 year high of $174.39. The company’s 50 day moving average price is $147.08 and its 200-day moving average price is $154.74.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 11th. Investors of record on Friday, February 16th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.28%. The ex-dividend date is Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is currently 53.17%.

Institutional Investors Weigh In On Chevron

Several institutional investors and hedge funds have recently modified their holdings of the company. NCM Capital Management LLC increased its holdings in Chevron by 1.2% during the 1st quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock worth $909,000 after purchasing an additional 65 shares during the period. Magnolia Capital Advisors LLC increased its holdings in Chevron by 0.9% during the 1st quarter. Magnolia Capital Advisors LLC now owns 7,716 shares of the oil and gas company’s stock worth $1,259,000 after purchasing an additional 72 shares during the period. Bedel Financial Consulting Inc. increased its holdings in Chevron by 0.9% during the 2nd quarter. Bedel Financial Consulting Inc. now owns 8,269 shares of the oil and gas company’s stock worth $1,301,000 after purchasing an additional 73 shares during the period. Baron Wealth Management LLC increased its holdings in Chevron by 1.2% during the 1st quarter. Baron Wealth Management LLC now owns 6,777 shares of the oil and gas company’s stock worth $1,106,000 after purchasing an additional 78 shares during the period. Finally, Koss Olinger Consulting LLC increased its holdings in Chevron by 5.4% during the 1st quarter. Koss Olinger Consulting LLC now owns 1,549 shares of the oil and gas company’s stock worth $253,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Analyst Ratings Changes

CVX has been the subject of several research reports. Mizuho dropped their price target on Chevron from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Tuesday, November 14th. Raymond James dropped their price target on Chevron from $200.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, October 30th. Bank of America raised Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $190.00 to $200.00 in a research note on Monday, October 30th. BNP Paribas raised Chevron from a “neutral” rating to an “outperform” rating and set a $190.00 price objective on the stock in a research note on Thursday, October 12th. Finally, Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price objective on the stock. in a research note on Tuesday, January 16th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.53.

Check Out Our Latest Analysis on CVX

About Chevron

(Get Free Report)

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.

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Earnings History for Chevron (NYSE:CVX)

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