FY2018 EPS Estimates for Chevron Co. Reduced by Analyst (CVX)

Chevron Co. (NYSE:CVX) – Equities research analysts at Piper Jaffray Companies dropped their FY2018 earnings per share (EPS) estimates for shares of Chevron in a research report issued on Wednesday, November 14th. Piper Jaffray Companies analyst B. Fernandez now expects that the oil and gas company will earn $8.36 per share for the year, down from their prior estimate of $8.70. Piper Jaffray Companies currently has a “Overweight” rating on the stock. Piper Jaffray Companies also issued estimates for Chevron’s Q4 2018 earnings at $2.25 EPS, Q1 2019 earnings at $1.80 EPS, Q2 2019 earnings at $1.99 EPS, Q3 2019 earnings at $2.02 EPS, Q4 2019 earnings at $2.03 EPS, FY2019 earnings at $7.84 EPS, Q1 2020 earnings at $2.03 EPS, Q2 2020 earnings at $2.24 EPS, Q3 2020 earnings at $2.30 EPS and FY2020 earnings at $8.67 EPS.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 2nd. The oil and gas company reported $2.11 EPS for the quarter, beating the consensus estimate of $2.06 by $0.05. Chevron had a return on equity of 8.19% and a net margin of 8.79%. The company had revenue of $43.99 billion for the quarter, compared to analyst estimates of $47.17 billion. During the same period last year, the company posted $1.03 earnings per share. The firm’s revenue was up 21.5% compared to the same quarter last year.

A number of other analysts have also issued reports on the company. Wells Fargo & Co dropped their target price on Chevron from $160.00 to $158.00 and set an “outperform” rating on the stock in a research report on Monday, November 5th. Bank of America reaffirmed a “neutral” rating and set a $140.00 target price (up from $135.00) on shares of Chevron in a research report on Monday, November 5th. Credit Suisse Group raised Chevron from a “neutral” rating to an “outperform” rating and set a $138.00 target price on the stock in a research report on Monday, November 5th. Redburn Partners lowered Chevron from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $130.00 to $115.00 in a research report on Wednesday, October 3rd. Finally, Goldman Sachs Group raised Chevron from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, October 2nd. Eight equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $138.13.

NYSE:CVX opened at $119.06 on Friday. Chevron has a 12 month low of $107.54 and a 12 month high of $133.88. The stock has a market capitalization of $220.41 billion, a price-to-earnings ratio of 32.18, a P/E/G ratio of 1.99 and a beta of 1.12. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.01 and a current ratio of 1.22.

A number of institutional investors have recently made changes to their positions in the stock. Reilly Herbert Faulkner III boosted its stake in Chevron by 4.5% in the first quarter. Reilly Herbert Faulkner III now owns 30,697 shares of the oil and gas company’s stock valued at $3,501,000 after acquiring an additional 1,334 shares during the period. AMG National Trust Bank boosted its stake in Chevron by 19.6% in the second quarter. AMG National Trust Bank now owns 6,354 shares of the oil and gas company’s stock valued at $803,000 after acquiring an additional 1,041 shares during the period. Brightworth boosted its stake in Chevron by 1.7% in the second quarter. Brightworth now owns 55,440 shares of the oil and gas company’s stock valued at $7,009,000 after acquiring an additional 904 shares during the period. Fiera Capital Corp boosted its stake in Chevron by 1.6% in the first quarter. Fiera Capital Corp now owns 298,283 shares of the oil and gas company’s stock valued at $34,016,000 after acquiring an additional 4,800 shares during the period. Finally, BP PLC boosted its stake in Chevron by 10.6% in the second quarter. BP PLC now owns 240,000 shares of the oil and gas company’s stock valued at $30,334,000 after acquiring an additional 23,000 shares during the period. 64.72% of the stock is owned by hedge funds and other institutional investors.

In related news, insider James William Johnson sold 4,750 shares of the business’s stock in a transaction dated Thursday, October 11th. The stock was sold at an average price of $119.97, for a total value of $569,857.50. Following the completion of the sale, the insider now directly owns 4,750 shares of the company’s stock, valued at $569,857.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.38% of the stock is owned by insiders.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Thursday, November 15th. Chevron’s dividend payout ratio is currently 121.08%.

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.

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Earnings History and Estimates for Chevron (NYSE:CVX)

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