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

Chevron (NYSE:CVX) issued its quarterly earnings results on Friday. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate 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 business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the prior year, the firm earned $3.55 EPS. The firm’s quarterly revenue was down 4.1% on a year-over-year basis.

Chevron Stock Performance

NYSE CVX traded up $0.61 during midday trading on Friday, hitting $165.89. The company had a trading volume of 9,736,350 shares, compared to its average volume of 7,082,480. The firm has a fifty day simple moving average of $156.58 and a two-hundred day simple moving average of $151.73. The stock has a market cap of $308.10 billion, a price-to-earnings ratio of 15.26, a P/E/G ratio of 2.44 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. Chevron has a fifty-two week low of $139.62 and a fifty-two week high of $171.70.

Chevron Dividend Announcement

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

Wall Street Analyst Weigh In

CVX has been the subject of several research analyst reports. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a report on Tuesday, February 6th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Truist Financial cut their price target on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Finally, TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $184.75.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated 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 directly owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by corporate insiders.

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.