Chevron (NYSE:CVX) Posts Earnings Results, Misses Expectations By $0.13 EPS

Chevron (NYSE:CVX) issued its earnings results on Friday. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.06 by ($0.13), RTT News reports. The company had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.55 earnings per share.

Chevron Stock Performance

Chevron stock traded up $0.61 during mid-day trading on Friday, hitting $165.89. The company had a trading volume of 9,733,292 shares, compared to its average volume of 8,480,016. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron has a 12-month low of $139.62 and a 12-month high of $171.70. The company’s fifty day moving average is $156.35 and its 200-day moving average is $151.84. The company has a market capitalization of $308.10 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 2.41 and a beta of 1.12.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio is currently 57.39%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CVX shares. TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $170.00 to $150.00 in a research note on Tuesday, January 23rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Mizuho increased their price target on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Truist Financial decreased their price target on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Finally, DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a research report on Tuesday, February 6th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $184.75.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.18% of the company’s stock.

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.