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

Chevron (NYSE:CVX) announced its quarterly earnings results on Friday. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09, RTT News reports. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the previous year, the company earned $3.55 earnings per share. Chevron’s quarterly revenue was down 4.1% compared to the same quarter last year.

Chevron Price Performance

NYSE:CVX traded up $0.61 during trading hours on Friday, reaching $165.89. 9,736,350 shares of the company traded hands, compared to its average volume of 7,082,480. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The firm’s 50-day moving average is $156.58 and its 200-day moving average is $151.73. The stock has a market cap of $308.10 billion, a P/E ratio of 15.26, a P/E/G ratio of 2.44 and a beta of 1.12. Chevron has a 1-year low of $139.62 and a 1-year high of $171.70.

Chevron Announces Dividend

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

Insider Transactions at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction 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 sale, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on CVX shares. Mizuho upped their target price on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Piper Sandler lifted their target price on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research note on Monday, January 8th. UBS Group upped their target price on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Finally, DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a research report on Tuesday, February 6th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

Chevron Company Profile

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.