Chevron Corporation (NYSE:CVX) posted its quarterly earnings results on Friday. The oil and gas company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.02, MarketWatch Earnings reports. Chevron Corporation had a net margin of 2.34% and a return on equity of 3.58%. The firm had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $32.77 billion. During the same quarter in the previous year, the firm posted ($0.78) earnings per share. The company’s revenue was up 17.8% on a year-over-year basis.
Shares of Chevron Corporation (NYSE:CVX) traded up 1.89% during midday trading on Friday, hitting $108.12. 7,812,602 shares of the stock were exchanged. The stock has a 50 day moving average price of $105.05 and a 200-day moving average price of $108.11. Chevron Corporation has a 12 month low of $97.53 and a 12 month high of $119.00. The company has a market cap of $204.84 billion, a PE ratio of 70.16 and a beta of 1.23. Chevron Corporation also saw some unusual options trading activity on Thursday. Traders bought 18,524 put options on the company. This represents an increase of 214% compared to the average volume of 5,906 put options.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend is Wednesday, August 16th. Chevron Corporation’s dividend payout ratio (DPR) is presently 282.35%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. New Capital Management LP boosted its position in shares of Chevron Corporation by 0.3% in the first quarter. New Capital Management LP now owns 1,455 shares of the oil and gas company’s stock worth $156,000 after buying an additional 4 shares in the last quarter. Hochman Cole Investment Advisors Inc. boosted its position in shares of Chevron Corporation by 0.3% in the second quarter. Hochman Cole Investment Advisors Inc. now owns 2,682 shares of the oil and gas company’s stock worth $280,000 after buying an additional 7 shares in the last quarter. Haverford Financial Services Inc. boosted its position in shares of Chevron Corporation by 0.7% in the first quarter. Haverford Financial Services Inc. now owns 2,303 shares of the oil and gas company’s stock worth $247,000 after buying an additional 16 shares in the last quarter. Orgel Wealth Management LLC boosted its position in shares of Chevron Corporation by 0.8% in the first quarter. Orgel Wealth Management LLC now owns 2,346 shares of the oil and gas company’s stock worth $252,000 after buying an additional 18 shares in the last quarter. Finally, Northstar Group Inc. boosted its position in shares of Chevron Corporation by 0.5% in the second quarter. Northstar Group Inc. now owns 3,714 shares of the oil and gas company’s stock worth $388,000 after buying an additional 19 shares in the last quarter. Institutional investors own 62.56% of the company’s stock.
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Several analysts have recently weighed in on CVX shares. TheStreet raised shares of Chevron Corporation from a “c” rating to a “b” rating in a research note on Tuesday, May 2nd. Macquarie downgraded shares of Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 price target for the company. in a research note on Wednesday, June 21st. BidaskClub downgraded shares of Chevron Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Vetr raised shares of Chevron Corporation from a “buy” rating to a “strong-buy” rating and set a $120.46 price target for the company in a research note on Friday, April 14th. Finally, Wells Fargo & Company downgraded shares of Chevron Corporation to an “outperform” rating and decreased their price target for the company from $124.00 to $102.00 in a research note on Monday, July 17th. Six analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Chevron Corporation currently has an average rating of “Hold” and a consensus price target of $116.37.
Chevron Corporation Company Profile
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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