Chevron (NYSE:CVX) Announces Earnings Results, Beats Estimates By $0.19 EPS

Chevron (NYSE:CVX) posted its quarterly earnings results on Friday. The oil and gas company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19, Zacks reports. The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. Chevron’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.55 earnings per share.

Chevron Stock Performance

Chevron stock opened at $151.33 on Friday. The business has a 50 day moving average of $146.86 and a 200-day moving average of $148.80. Chevron has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The company has a market capitalization of $264.28 billion, a P/E ratio of 19.48, a P/E/G ratio of 2.39 and a beta of 0.87.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wells Fargo & Company reissued an “overweight” rating and set a $178.00 target price on shares of Chevron in a research note on Friday. Scotiabank reaffirmed a “sector perform” rating and set a $160.00 price target (up from $143.00) on shares of Chevron in a report on Friday, July 11th. Hsbc Global Res cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. UBS Group lowered their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Finally, Mizuho lowered their price objective on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron has an average rating of “Hold” and an average price target of $163.18.

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.