Chevron Co. (NYSE:CVX – Get Rating) – Stock analysts at Jefferies Financial Group issued their Q3 2022 earnings estimates for shares of Chevron in a research report issued on Tuesday, October 18th. Jefferies Financial Group analyst L. Byrne anticipates that the oil and gas company will earn $4.94 per share for the quarter. Jefferies Financial Group currently has a “Hold” rating on the stock. The consensus estimate for Chevron’s current full-year earnings is $17.84 per share. Jefferies Financial Group also issued estimates for Chevron’s Q4 2022 earnings at $4.48 EPS, FY2022 earnings at $18.57 EPS, FY2023 earnings at $15.21 EPS and FY2024 earnings at $13.56 EPS.
Several other research analysts also recently weighed in on CVX. Truist Financial dropped their price target on Chevron from $170.00 to $166.00 and set a “hold” rating for the company in a research note on Tuesday, July 19th. The Goldman Sachs Group reiterated a “neutral” rating and set a $172.00 target price on shares of Chevron in a research report on Thursday, August 4th. Cowen increased their target price on Chevron from $119.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, August 15th. Wells Fargo & Company increased their target price on Chevron from $181.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday, August 1st. Finally, Citigroup increased their target price on Chevron from $150.00 to $155.00 in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average target price of $169.25.
Chevron Trading Up 0.6 %
Chevron stock opened at $168.96 on Friday. The firm has a 50 day moving average of $157.49 and a 200 day moving average of $159.00. The firm has a market capitalization of $331.97 billion, a price-to-earnings ratio of 11.27, a P/E/G ratio of 0.65 and a beta of 1.13. Chevron has a 12-month low of $110.73 and a 12-month high of $182.40. The company has a current ratio of 1.31, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15.
Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, beating the consensus estimate of $5.02 by $0.80. Chevron had a net margin of 13.45% and a return on equity of 19.73%. The firm had revenue of $68.76 billion during the quarter, compared to analyst estimates of $57.69 billion. During the same quarter in the prior year, the firm earned $1.71 EPS. The business’s revenue for the quarter was up 82.9% compared to the same quarter last year.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the stock. Evanson Asset Management LLC increased its position in shares of Chevron by 0.4% in the first quarter. Evanson Asset Management LLC now owns 16,341 shares of the oil and gas company’s stock valued at $2,661,000 after buying an additional 70 shares in the last quarter. Carnegie Capital Asset Management LLC increased its position in shares of Chevron by 1.6% during the first quarter. Carnegie Capital Asset Management LLC now owns 72,555 shares of the oil and gas company’s stock worth $11,814,000 after purchasing an additional 1,168 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Chevron during the first quarter worth approximately $233,000. Stuart Chaussee & Associates Inc. increased its position in shares of Chevron by 8.2% during the first quarter. Stuart Chaussee & Associates Inc. now owns 1,082 shares of the oil and gas company’s stock worth $176,000 after purchasing an additional 82 shares in the last quarter. Finally, Home Federal Bank of Tennessee increased its position in shares of Chevron by 0.7% during the first quarter. Home Federal Bank of Tennessee now owns 13,429 shares of the oil and gas company’s stock worth $2,187,000 after purchasing an additional 93 shares in the last quarter. 69.30% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Chevron news, EVP James William Johnson sold 85,300 shares of the firm’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $164.01, for a total value of $13,990,053.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP James William Johnson sold 85,300 shares of Chevron stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $164.01, for a total transaction of $13,990,053.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Pierre R. Breber sold 22,500 shares of Chevron stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $158.11, for a total value of $3,557,475.00. Following the sale, the chief financial officer now directly owns 7 shares of the company’s stock, valued at approximately $1,106.77. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 141,732 shares of company stock valued at $23,024,499. 0.32% of the stock is currently owned by corporate insiders.
Chevron Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend was Thursday, August 18th. Chevron’s dividend payout ratio is presently 37.89%.
About Chevron
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 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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