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
Chevron stock traded down $5.70 during mid-day trading on Monday, reaching $154.15. The company's stock had a trading volume of 37,668 shares, compared to its average volume of 13,287,983. Chevron has a twelve month low of $92.86 and a twelve month high of $182.40. The firm has a market cap of $302.88 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 0.64 and a beta of 1.15. The company has a current ratio of 1.31, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average price of $152.39 and a 200-day moving average price of $156.64.
Chevron (NYSE:CVX - Get Rating) last issued its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, topping the consensus estimate of $4.66 by $1.16. The firm had revenue of $68.76 billion for the quarter, compared to analysts' expectations of $57.69 billion. Chevron had a net margin of 13.45% and a return on equity of 19.73%. Chevron's revenue for the quarter was up 82.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.71 earnings per share. Sell-side analysts predict that Chevron will post 17.75 EPS for the current fiscal year.
Chevron Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Friday, August 19th will be given a dividend of $1.42 per share. The ex-dividend date is Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a yield of 3.68%. Chevron's payout ratio is currently 37.89%.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on CVX. Cowen lifted their target price on shares of Chevron from $119.00 to $120.00 and gave the company an "outperform" rating in a report on Monday. Societe Generale raised shares of Chevron from a "hold" rating to a "buy" rating in a report on Thursday, August 4th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $172.00 target price on shares of Chevron in a report on Thursday, August 4th. HSBC upgraded shares of Chevron from a "hold" rating to a "buy" rating and decreased their target price for the company from $183.00 to $167.00 in a research report on Wednesday, July 20th. Finally, Barclays upped their target price on shares of Chevron from $183.00 to $196.00 and gave the company an "overweight" rating in a research report on Tuesday, May 31st. 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 company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $171.40.
Insiders Place Their Bets
In related news, VP R. Hewitt Pate sold 91,300 shares of the company's stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $172.34, for a total value of $15,734,642.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP R. Hewitt Pate sold 91,300 shares of the firm's stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $172.34, for a total value of $15,734,642.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Wanda M. Austin sold 11,432 shares of the firm's stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $161.45, for a total value of $1,845,696.40. Following the completion of the transaction, the director now owns 3,560 shares in the company, valued at approximately $574,762. The disclosure for this sale can be found here. Insiders sold 176,570 shares of company stock valued at $30,464,558 over the last 90 days. 0.32% of the stock is currently owned by company insiders.
