Chevron Co. (CVX) Expected to Post Q1 2018 Earnings of $1.55 Per Share

Chevron Co. (NYSE:CVX) – Stock analysts at Piper Jaffray issued their Q1 2018 earnings per share estimates for shares of Chevron in a report issued on Sunday, April 22nd. Piper Jaffray analyst G. Baber expects that the oil and gas company will earn $1.55 per share for the quarter. Piper Jaffray currently has a “Buy” rating and a $140.00 price target on the stock. Piper Jaffray also issued estimates for Chevron’s Q2 2018 earnings at $1.66 EPS, Q3 2018 earnings at $1.79 EPS, Q4 2018 earnings at $1.59 EPS, Q1 2019 earnings at $1.62 EPS, Q2 2019 earnings at $1.79 EPS, Q3 2019 earnings at $1.77 EPS, Q4 2019 earnings at $1.58 EPS and Q1 2020 earnings at $1.49 EPS.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.54). Chevron had a net margin of 6.49% and a return on equity of 5.22%. The business had revenue of $37.62 billion during the quarter, compared to the consensus estimate of $38.43 billion. During the same quarter last year, the company posted $0.22 EPS. The firm’s revenue was up 19.4% on a year-over-year basis.

Several other research analysts have also recently weighed in on CVX. Morgan Stanley increased their price objective on Chevron from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. BMO Capital Markets upgraded Chevron from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $120.00 to $140.00 in a research report on Thursday, January 11th. Vetr upgraded Chevron from a “buy” rating to a “strong-buy” rating and set a $135.52 price objective on the stock in a research report on Monday, February 5th. HSBC cut Chevron from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Finally, Bank of America upgraded Chevron from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $113.61 to $138.00 in a research report on Wednesday, February 28th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $131.02.

CVX opened at $124.22 on Wednesday. Chevron has a 1-year low of $102.55 and a 1-year high of $133.88. The company has a current ratio of 1.03, a quick ratio of 0.83 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $234,082.41, a P/E ratio of 33.57, a price-to-earnings-growth ratio of 2.39 and a beta of 1.16.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 11th. Investors of record on Friday, May 18th will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date is Thursday, May 17th. Chevron’s payout ratio is currently 121.08%.

In related news, VP R. Hewitt Pate sold 25,500 shares of the firm’s stock in a transaction on Tuesday, April 17th. The stock was sold at an average price of $121.97, for a total value of $3,110,235.00. Following the transaction, the vice president now owns 25,500 shares in the company, valued at $3,110,235. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Koshinski Asset Management Inc. boosted its stake in Chevron by 8.0% in the fourth quarter. Koshinski Asset Management Inc. now owns 14,572 shares of the oil and gas company’s stock valued at $1,824,000 after buying an additional 1,077 shares in the last quarter. Bogart Wealth LLC boosted its stake in Chevron by 3.7% in the fourth quarter. Bogart Wealth LLC now owns 15,316 shares of the oil and gas company’s stock valued at $1,917,000 after buying an additional 542 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Chevron by 2.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 8,453,505 shares of the oil and gas company’s stock valued at $1,058,082,000 after buying an additional 234,920 shares in the last quarter. Berkshire Asset Management LLC PA boosted its stake in Chevron by 42.7% in the fourth quarter. Berkshire Asset Management LLC PA now owns 25,234 shares of the oil and gas company’s stock valued at $3,159,000 after buying an additional 7,550 shares in the last quarter. Finally, FTB Advisors Inc. boosted its stake in shares of Chevron by 90.9% during the fourth quarter. FTB Advisors Inc. now owns 48,763 shares of the oil and gas company’s stock valued at $6,127,000 after purchasing an additional 23,221 shares in the last quarter. 64.98% of the stock is currently owned by institutional investors and hedge funds.

About Chevron

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

Earnings History and Estimates for Chevron (NYSE:CVX)

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