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 Up 1.7 %
Shares of NYSE:CVX traded up $2.50 during trading on Friday, reaching $153.64. 7,170,150 shares of the company traded hands, compared to its average volume of 8,170,638. Chevron has a 1-year low of $92.86 and a 1-year high of $182.40. The company has a quick ratio of 1.22, a current ratio of 1.43 and a debt-to-equity ratio of 0.20. The firm has a market cap of $301.87 billion, a P/E ratio of 10.25, a price-to-earnings-growth ratio of 0.61 and a beta of 1.15. The firm has a fifty day simple moving average of $154.37 and a 200 day simple moving average of $155.54.
Chevron (NYSE:CVX - Get Rating) last released its quarterly earnings data on Friday, July 29th. The oil and gas company reported $5.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.66 by $1.16. Chevron had a return on equity of 20.19% and a net margin of 13.45%. The firm had revenue of $68.76 billion during the quarter, compared to analysts' expectations of $57.69 billion. During the same quarter last year, the firm earned $1.71 earnings per share. The business's revenue for the quarter was up 82.9% on a year-over-year basis. Analysts anticipate that Chevron will post 17.51 earnings per share for the current fiscal year.
Chevron Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Friday, August 19th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 3.70%. The ex-dividend date is Thursday, August 18th. Chevron's payout ratio is presently 37.89%.
Wall Street Analysts Forecast Growth
CVX has been the topic of several research reports. Bank of America boosted their price target on shares of Chevron from $178.00 to $180.00 and gave the stock a "buy" rating in a research report on Monday, August 1st. The Goldman Sachs Group reissued a "neutral" rating and set a $172.00 target price on shares of Chevron in a research note on Thursday. Societe Generale upgraded shares of Chevron from a "hold" rating to a "buy" rating in a research report on Thursday. Wells Fargo & Company increased their price objective on Chevron from $181.00 to $185.00 and gave the company an "overweight" rating in a research report on Monday, August 1st. Finally, Piper Sandler decreased their target price on Chevron from $213.00 to $189.00 and set an "overweight" rating on the stock in a report on Tuesday, July 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $173.00.
Insider Buying and Selling at Chevron
In other news, Director Wanda M. Austin sold 11,432 shares of the 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 transaction, the director now owns 3,560 shares in the company, valued at approximately $574,762. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Wanda M. Austin sold 11,432 shares of the company's 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 completion of the sale, the director now owns 3,560 shares in the company, valued at approximately $574,762. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Wanda M. Austin sold 12,039 shares of the stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $177.29, for a total value of $2,134,394.31. Following the transaction, the director now directly owns 3,543 shares in the company, valued at approximately $628,138.47. The disclosure for this sale can be found here. Insiders sold 399,043 shares of company stock worth $67,010,843 over the last ninety days. 0.32% of the stock is currently owned by insiders.
