Chevron (NYSE:CVX) Announces Earnings Results, Beats Expectations By $0.19 EPS

Key Points

• Chevron reported a quarterly earnings per share of $1.77, surpassing analysts' expectations of $1.58 by $0.19.
• The company's revenue for the quarter was $44.82 billion, exceeding analyst estimates but down 12.4% compared to the previous year.
• Chevron's stock has an average rating of "Hold" from analysts, with a consensus price target of $163.18.

Chevron (NYSE:CVX - Get Free Report) issued its quarterly earnings results on Friday. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.19, Zacks reports. The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.55 EPS.

Chevron Stock Performance

CVX stock traded down $0.14 during trading hours on Friday, reaching $151.50. The stock had a trading volume of 7,760,854 shares, compared to its average volume of 9,476,183. The stock has a market capitalization of $264.58 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 2.42 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The stock has a 50-day simple moving average of $146.57 and a 200 day simple moving average of $148.90. Chevron has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Barclays reiterated an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. BNP Paribas downgraded Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Raymond James Financial restated an "outperform" rating on shares of Chevron in a research note on Friday. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a research note on Friday, July 18th. Finally, Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Chevron presently has an average rating of "Hold" and a consensus price target of $163.18.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. 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 of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.

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