Chevron Co. (NYSE:CVX) – Equities research analysts at Piper Jaffray Companies dropped their FY2019 earnings estimates for shares of Chevron in a report issued on Monday, February 11th. Piper Jaffray Companies analyst B. Fernandez now forecasts that the oil and gas company will post earnings of $6.09 per share for the year, down from their previous estimate of $6.12. Piper Jaffray Companies currently has a “Overweight” rating on the stock. Piper Jaffray Companies also issued estimates for Chevron’s Q4 2019 earnings at $1.53 EPS.
Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 1st. The oil and gas company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.08. Chevron had a return on equity of 9.82% and a net margin of 8.91%. The company had revenue of $42.35 billion for the quarter, compared to analysts’ expectations of $41.46 billion. During the same quarter in the prior year, the firm earned $1.64 earnings per share. Chevron’s revenue was up 12.6% compared to the same quarter last year.
Several other research analysts have also recently issued reports on CVX. Zacks Investment Research raised Chevron from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 29th. Credit Suisse Group set a $135.00 price objective on Chevron and gave the stock a “buy” rating in a research note on Saturday, February 2nd. Royal Bank of Canada reissued a “hold” rating and issued a $130.00 price objective on shares of Chevron in a research note on Monday, January 7th. Societe Generale dropped their price objective on Chevron from $150.00 to $128.00 and set a “buy” rating on the stock in a research note on Wednesday, December 19th. Finally, Raymond James set a $135.00 price objective on Chevron and gave the stock a “buy” rating in a research note on Thursday, December 20th. Nine equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $133.20.
Shares of NYSE:CVX opened at $116.95 on Tuesday. Chevron has a 52-week low of $100.22 and a 52-week high of $131.08. The company has a market capitalization of $223.47 billion, a P/E ratio of 14.18, a PEG ratio of 4.03 and a beta of 1.02. The company has a current ratio of 1.22, a quick ratio of 1.01 and a debt-to-equity ratio of 0.19.
Several institutional investors and hedge funds have recently modified their holdings of CVX. Wellington Shields & Co. LLC raised its stake in Chevron by 69.5% in the 4th quarter. Wellington Shields & Co. LLC now owns 15,178 shares of the oil and gas company’s stock worth $1,651,000 after acquiring an additional 6,223 shares during the last quarter. Wellington Shields Capital Management LLC raised its stake in Chevron by 0.4% in the 4th quarter. Wellington Shields Capital Management LLC now owns 29,962 shares of the oil and gas company’s stock worth $3,260,000 after acquiring an additional 131 shares during the last quarter. Martingale Asset Management L P raised its stake in Chevron by 1.1% in the 4th quarter. Martingale Asset Management L P now owns 91,019 shares of the oil and gas company’s stock worth $9,903,000 after acquiring an additional 1,027 shares during the last quarter. State of Tennessee Treasury Department raised its stake in Chevron by 40.4% in the 4th quarter. State of Tennessee Treasury Department now owns 946,655 shares of the oil and gas company’s stock worth $102,986,000 after acquiring an additional 272,400 shares during the last quarter. Finally, Clear Harbor Asset Management LLC raised its stake in Chevron by 10.9% in the 4th quarter. Clear Harbor Asset Management LLC now owns 11,909 shares of the oil and gas company’s stock worth $1,296,000 after acquiring an additional 1,166 shares during the last quarter. Hedge funds and other institutional investors own 67.51% of the company’s stock.
In other Chevron news, insider James William Johnson sold 9,500 shares of the stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $118.59, for a total transaction of $1,126,605.00. Following the sale, the insider now owns 9,500 shares of the company’s stock, valued at approximately $1,126,605. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeanette L. Ourada sold 7,200 shares of the stock in a transaction on Monday, February 4th. The shares were sold at an average price of $116.50, for a total value of $838,800.00. Following the sale, the insider now directly owns 7,200 shares in the company, valued at approximately $838,800. The disclosure for this sale can be found here. Insiders have sold a total of 26,200 shares of company stock worth $3,072,725 in the last ninety days. Insiders own 0.46% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 11th. Shareholders of record on Friday, February 15th will be given a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a yield of 4.07%. The ex-dividend date is Thursday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.12. Chevron’s dividend payout ratio (DPR) is 54.30%.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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