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. The Downstream segment engages in refining crude oil into petroleum products; marketing crude oil, refined products, and lubricants; manufacturing and marketing of renewable fuels; transporting crude oil and refined products by pipeline, marine vessel, motor equipment, and rail car; and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives. It is also involved in the cash management and debt financing activities; insurance operations; real estate activities; and technology businesses. The company was formerly known as ChevronTexaco Corporation and changed its name to Chevron Corporation in 2005. Chevron Corporation was founded in 1879 and is based in San Ramon, California.
Chevron Stock Performance
Shares of CVX opened at $157.70 on Thursday. The company has a market capitalization of $309.85 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 0.62 and a beta of 1.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.31 and a quick ratio of 1.11. Chevron has a one year low of $92.86 and a one year high of $182.40. The company's fifty day moving average price is $151.05 and its 200 day moving average price is $156.83.
Chevron (NYSE:CVX - Get Rating) last posted its quarterly earnings data on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, topping analysts' consensus estimates of $4.66 by $1.16. Chevron had a return on equity of 19.73% and a net margin of 13.45%. The business had revenue of $68.76 billion for the quarter, compared to analyst estimates of $57.69 billion. During the same period in the previous year, the company posted $1.71 earnings per share. The firm's revenue for the quarter was up 82.9% on a year-over-year basis. As a group, analysts expect that Chevron will post 17.75 earnings per share for the current year.
Chevron Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Friday, August 19th will be given a $1.42 dividend. The ex-dividend date is Thursday, August 18th. This represents a $5.68 annualized dividend and a dividend yield of 3.60%. Chevron's dividend payout ratio is 37.89%.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on CVX shares. Morgan Stanley increased their price objective on Chevron from $185.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 19th. Cowen boosted their price objective on shares of Chevron from $119.00 to $120.00 and gave the company an "outperform" rating in a research report on Monday. Royal Bank of Canada downgraded shares of Chevron from an "outperform" rating to a "sector perform" rating and increased their target price for the stock from $160.00 to $165.00 in a research report on Thursday, April 21st. Cowen boosted their price target on shares of Chevron from $119.00 to $120.00 and gave the company an "outperform" rating in a report on Monday. Finally, Piper Sandler cut their price objective on Chevron from $213.00 to $189.00 and set an "overweight" rating for the company in a report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $169.00.
Insider Transactions at Chevron
In related news, Director Wanda M. Austin sold 11,432 shares of the company's stock in a transaction on Monday, August 1st. The shares were sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the completion of the transaction, the director now directly owns 3,560 shares in the company, valued at approximately $574,762. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Wanda M. Austin sold 11,432 shares of Chevron stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the sale, the director now directly owns 3,560 shares of the company's stock, valued at $574,762. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Enrique Hernandez, Jr. sold 11,799 shares of the business's stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $175.00, for a total value of $2,064,825.00. Following the transaction, the director now owns 24,281 shares in the company, valued at $4,249,175. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 199,070 shares of company stock worth $34,022,033. Insiders own 0.32% of the company's stock.
