Chevron (CVX) Set to Announce Earnings on Friday

Chevron (NYSE:CVX) is scheduled to release its earnings data before the market opens on Friday, April 26th. Analysts expect Chevron to post earnings of $3.06 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Chevron (NYSE:CVX) last released its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.26. The business had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same period last year, the firm posted $4.09 earnings per share. On average, analysts expect Chevron to post $14 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Chevron Price Performance

CVX opened at $157.49 on Friday. The firm has a market capitalization of $292.50 billion, a P/E ratio of 13.86, a PEG ratio of 2.30 and a beta of 1.12. Chevron has a 12-month low of $139.62 and a 12-month high of $172.38. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average of $155.26 and a 200-day moving average of $151.90.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a dividend of $1.63 per share. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.14%. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Chevron

Large investors have recently added to or reduced their stakes in the company. Worth Asset Management LLC bought a new stake in Chevron in the 1st quarter valued at approximately $36,000. Main Street Group LTD acquired a new position in Chevron during the fourth quarter worth $80,000. Dagco Inc. bought a new position in Chevron in the fourth quarter valued at $83,000. Capital Impact Advisors LLC increased its stake in Chevron by 115.7% in the 4th quarter. Capital Impact Advisors LLC now owns 468 shares of the oil and gas company’s stock valued at $84,000 after buying an additional 251 shares during the last quarter. Finally, Cornerstone Planning Group LLC bought a new stake in Chevron during the 2nd quarter worth about $113,000. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of several recent research reports. Royal Bank of Canada raised their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Truist Financial dropped their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Monday, January 8th. Finally, Piper Sandler increased their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.