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

Chevron (NYSE:CVX) issued its quarterly earnings data on Friday. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09, RTT News reports. The firm had revenue of $48.72 billion during 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 business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.55 earnings per share.

Chevron Trading Up 0.4 %

NYSE CVX traded up $0.61 during trading hours on Friday, reaching $165.89. The company’s stock had a trading volume of 9,736,350 shares, 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. Chevron has a 52 week low of $139.62 and a 52 week high of $171.70. The firm has a fifty day simple moving average of $156.58 and a 200-day simple moving average of $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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 3.93%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Upgrades and Downgrades

CVX has been the subject of several research analyst reports. TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $170.00 to $150.00 in a report on Tuesday, January 23rd. Royal Bank of Canada upped their price target on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Piper Sandler boosted their price objective on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

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.