Chevron Co. (NYSE:CVX – Get Rating) – Equities research analysts at Jefferies Financial Group boosted their FY2022 EPS estimates for shares of Chevron in a research report issued to clients and investors on Sunday, November 20th. Jefferies Financial Group analyst L. Byrne now expects that the oil and gas company will post earnings of $19.80 per share for the year, up from their prior estimate of $18.57. Jefferies Financial Group has a “Hold” rating on the stock. The consensus estimate for Chevron’s current full-year earnings is $19.09 per share. Jefferies Financial Group also issued estimates for Chevron’s FY2023 earnings at $16.87 EPS and FY2024 earnings at $15.38 EPS.
Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings data on Friday, October 28th. The oil and gas company reported $5.56 earnings per share for the quarter, beating analysts’ consensus estimates of $5.22 by $0.34. The business had revenue of $66.64 billion during the quarter, compared to analyst estimates of $61.44 billion. Chevron had a net margin of 14.36% and a return on equity of 22.36%. Chevron’s revenue was up 49.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.96 EPS.
Chevron Stock Up 2.6 %
CVX opened at $185.89 on Wednesday. The company has a fifty day moving average price of $167.70 and a 200-day moving average price of $161.48. The firm has a market capitalization of $359.44 billion, a P/E ratio of 10.57, a price-to-earnings-growth ratio of 0.65 and a beta of 1.21. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.40 and a quick ratio of 1.15. Chevron has a one year low of $110.73 and a one year high of $189.68.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cordant Inc. bought a new position in Chevron during the first quarter valued at approximately $29,000. Orion Capital Management LLC lifted its position in Chevron by 85.0% during the first quarter. Orion Capital Management LLC now owns 222 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 102 shares during the period. Worth Asset Management LLC bought a new position in Chevron in the first quarter worth approximately $36,000. Steward Financial Group LLC raised its position in Chevron by 932.0% in the first quarter. Steward Financial Group LLC now owns 258 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 233 shares during the period. Finally, Win Advisors Inc. raised its position in Chevron by 61.2% in the second quarter. Win Advisors Inc. now owns 316 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 120 shares during the period. Institutional investors own 69.30% of the company’s stock.
Insiders Place Their Bets
In other Chevron news, Director Alice P. Gast sold 2,706 shares of the company’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $179.44, for a total value of $485,564.64. Following the sale, the director now owns 21,964 shares in the company, valued at $3,941,220.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Alice P. Gast sold 2,706 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $179.44, for a total value of $485,564.64. Following the transaction, the director now owns 21,964 shares in the company, valued at $3,941,220.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP R. Hewitt Pate sold 32,391 shares of the company’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $180.00, for a total transaction of $5,830,380.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 210,397 shares of company stock worth $36,962,020. 0.32% of the stock is currently owned by company insiders.
Chevron Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Friday, November 18th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Thursday, November 17th. Chevron’s dividend payout ratio (DPR) is presently 32.31%.
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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