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

Chevron (NYSE:CVX) released its earnings results on Friday. The oil and gas company reported $2.93 earnings per share 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 business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same period last year, the company earned $3.55 earnings per share. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year.

Chevron Stock Performance

NYSE CVX traded up $0.61 during trading hours on Friday, reaching $165.89. The stock had a trading volume of 9,736,350 shares, compared to its average volume of 7,082,480. The stock has a fifty day moving average of $156.58 and a 200 day moving average of $151.73. The stock has a market cap of $308.10 billion, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 2.44 and a beta of 1.12. Chevron has a 52-week low of $139.62 and a 52-week high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.93%. Chevron’s payout ratio is 59.98%.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Raymond James lifted their target price on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a report on Monday, January 8th. Piper Sandler lifted their price objective on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a report on Monday, April 1st. Finally, Barclays initiated coverage on Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.