Zacks: Brokerages Expect Chevron Co. (NYSE:CVX) Will Announce Earnings of -$0.87 Per Share

Analysts expect that Chevron Co. (NYSE:CVX) will announce ($0.87) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Chevron’s earnings, with the highest EPS estimate coming in at ($0.56) and the lowest estimate coming in at ($1.34). Chevron reported earnings of $2.27 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 138.3%. The firm is expected to announce its next earnings report on Friday, August 7th.

According to Zacks, analysts expect that Chevron will report full-year earnings of ($0.39) per share for the current year, with EPS estimates ranging from ($1.89) to $0.72. For the next financial year, analysts anticipate that the business will report earnings of $0.72 per share, with EPS estimates ranging from ($2.40) to $3.46. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Chevron.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $1.29. Chevron had a net margin of 2.71% and a return on equity of 8.28%. The firm had revenue of $31.50 billion during the quarter, compared to the consensus estimate of $30.46 billion. During the same quarter last year, the firm earned $1.47 EPS. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis.

Several research firms have commented on CVX. Wells Fargo & Co boosted their price target on shares of Chevron from $107.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Argus restated a “buy” rating and issued a $88.00 price target (down previously from $150.00) on shares of Chevron in a research note on Thursday, March 26th. Raymond James dropped their price target on shares of Chevron from $125.00 to $105.00 and set an “outperform” rating for the company in a research note on Tuesday, March 17th. Bank of America boosted their price target on shares of Chevron from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Finally, Cowen decreased their price objective on shares of Chevron from $134.00 to $127.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Chevron has an average rating of “Buy” and a consensus target price of $113.05.

In other news, Director John Frank purchased 400 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were acquired at an average cost of $104.61 per share, for a total transaction of $41,844.00. Following the completion of the purchase, the director now directly owns 5,114 shares in the company, valued at approximately $534,975.54. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.31% of the company’s stock.

Several institutional investors have recently modified their holdings of CVX. Sailer Financial LLC acquired a new position in Chevron during the fourth quarter worth about $25,000. Filbrandt Wealth Management LLC purchased a new stake in shares of Chevron in the fourth quarter valued at about $25,000. Roffman Miller Associates Inc. PA purchased a new stake in shares of Chevron in the fourth quarter valued at about $27,000. CBIZ Investment Advisory Services LLC purchased a new stake in shares of Chevron in the fourth quarter valued at about $33,000. Finally, Corbenic Partners LLC lifted its holdings in shares of Chevron by 276.0% in the first quarter. Corbenic Partners LLC now owns 361 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 265 shares in the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Chevron stock traded down $1.76 during trading on Friday, hitting $90.28. The company had a trading volume of 8,560,026 shares, compared to its average volume of 12,674,729. The company’s 50 day simple moving average is $86.38 and its 200-day simple moving average is $102.55. The stock has a market cap of $173.63 billion, a price-to-earnings ratio of 44.04 and a beta of 1.31. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 0.16. Chevron has a 1-year low of $51.60 and a 1-year high of $127.00.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be issued a $1.29 dividend. The ex-dividend date is Monday, May 18th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 5.72%. Chevron’s payout ratio is 82.30%.

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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