Erste Group Bank Boosts Earnings Estimates for Chevron

Chevron Corporation (NYSE:CVX) – Research analysts at Erste Group Bank lifted their FY2027 earnings per share (EPS) estimates for Chevron in a note issued to investors on Wednesday, October 21st. Erste Group Bank analyst H. Engel now expects that the oil and gas company will post earnings per share of $15.35 for the year, up from their prior forecast of $13.78. The consensus estimate for Chevron’s current full-year earnings is $18.20 per share.

Several other equities research analysts have also recently commented on the company. Raymond James Financial decreased their target price on Chevron from $230.00 to $225.00 and set an “outperform” rating for the company in a research note on Tuesday, July 21st. BNP Paribas Exane cut their price target on Chevron from $230.00 to $224.00 and set an “outperform” rating on the stock in a report on Friday, July 17th. Dbs Bank raised shares of Chevron to a “moderate buy” rating in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Barclays cut their price target on Chevron from $216.00 to $208.00 and set an “equal weight” rating on the stock in a report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $213.96.

Chevron Stock Performance

CVX stock opened at $231.75 on Monday. The firm has a market cap of $457.88 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 0.55 and a beta of 0.53. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average price of $210.44 and a 200-day moving average price of $191.27. Chevron has a 1-year low of $146.49 and a 1-year high of $234.08.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%. The company had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same period in the previous year, the firm earned $1.77 earnings per share. The firm’s quarterly revenue was up 57.4% on a year-over-year basis.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Midwest Capital Advisors LLC bought a new position in shares of Chevron in the 1st quarter worth $25,000. Main Street Group LTD purchased a new position in Chevron during the 1st quarter valued at about $28,000. Kilter Group LLC bought a new stake in Chevron in the second quarter valued at $28,000. Principia Wealth Advisory LLC increased its position in shares of Chevron by 49.6% during the second quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 60 shares during the period. Finally, Strategic Wealth Advisors LLC bought a new position in shares of Chevron in the 2nd quarter worth approximately $33,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In other news, Director John Hess sold 710,665 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the transaction, the director owned 363,711 shares of the company’s stock, valued at $70,596,305.10. This represents a 66.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew Walz sold 16,800 shares of Chevron stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the completion of the transaction, the insider owned 14 shares of the company’s stock, valued at $2,814.84. The trade was a 99.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,195,682 shares of company stock worth $235,619,780 over the last quarter. 0.56% of the stock is currently owned by corporate insiders.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were paid a dividend of $1.78 per share. The ex-dividend date was Wednesday, August 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.1%. Chevron’s dividend payout ratio (DPR) is presently 68.26%.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron proposed investing $13.8 billion through 2035 to expand its Vaca Muerta shale operations in Argentina, with a goal of tripling oil production from its assets in the region. The plan could provide a significant long-term production and reserve-growth opportunity. Chevron Vaca Muerta expansion
• Positive Sentiment: Analysts and financial publications continue to highlight CVX’s earnings growth, price strength and momentum characteristics, supporting the view that Chevron remains attractive to momentum and income-oriented investors. Chevron earnings growth and price strength
• Positive Sentiment: Erste Group Bank reportedly increased its earnings forecast for Chevron, while unusually high call-option activity suggests some traders are positioning for further upside. Erste Group earnings forecast
• Neutral Sentiment: Chevron’s Nargis-2 well in Egypt confirmed additional gas-bearing zones, expanding offshore exploration potential, although commercial viability and production timing remain uncertain. Chevron Nargis-2 results
• Negative Sentiment: Chevron is scheduled to report third-quarter results on October 30. Analysts expect roughly a 150% year-over-year EPS increase, but the stock’s substantial year-to-date advance raises concern that strong results may already be reflected in the valuation. Chevron third-quarter earnings outlook

About Chevron

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.