Chevron (NYSE:CVX) Announces Earnings Results, Misses Estimates By $0.66 EPS

Chevron (NYSE:CVX) issued its earnings results on Friday. The oil and gas company reported ($1.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.66), MarketWatch Earnings reports. Chevron had a net margin of 2.71% and a return on equity of 8.28%. The business had revenue of $13.95 billion for the quarter, compared to the consensus estimate of $21.71 billion. During the same period in the previous year, the firm earned $1.77 EPS. The company’s revenue was down 64.1% compared to the same quarter last year.

Shares of CVX opened at $83.94 on Friday. Chevron has a 1 year low of $51.60 and a 1 year high of $125.27. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.01 and a quick ratio of 0.78. The stock has a 50 day simple moving average of $88.84 and a two-hundred day simple moving average of $92.49. The firm has a market cap of $156.71 billion, a P/E ratio of 40.95, a P/E/G ratio of 21.46 and a beta of 1.29.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a $1.29 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $5.16 dividend on an annualized basis and a yield of 6.15%. Chevron’s payout ratio is 82.30%.

A number of analysts recently issued reports on the company. Zacks Investment Research upgraded Chevron from a “hold” rating to a “strong-buy” rating and set a $105.00 price objective on the stock in a research note on Wednesday, July 22nd. Credit Suisse Group lifted their target price on Chevron from $81.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Raymond James increased their price target on shares of Chevron from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, July 20th. Goldman Sachs Group cut shares of Chevron from a “conviction-buy” rating to a “buy” rating in a research note on Monday, May 4th. Finally, UBS Group lowered shares of Chevron from a “buy” rating to a “neutral” rating and set a $95.00 target price on the stock. in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Chevron currently has a consensus rating of “Buy” and a consensus price target of $111.25.

Chevron Company Profile

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 for Chevron (NYSE:CVX)

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