Equities Analysts Offer Predictions for Chevron Corp.’s FY2016 Earnings (CVX)
Chevron Corp. (NYSE:CVX) – Equities researchers at Credit Agricole SA raised their FY2016 earnings per share (EPS) estimates for Chevron Corp. in a note issued to investors on Tuesday. Credit Agricole SA analyst A. Sen now anticipates that the brokerage will earn $1.15 per share for the year, up from their previous estimate of $1.14.
Chevron Corp. (NYSE:CVX) last announced its quarterly earnings data on Friday, July 29th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by $1.10. The business had revenue of $29.28 billion for the quarter, compared to analysts’ expectations of $25.78 billion. Chevron Corp. had a negative net margin of 0.64% and a positive return on equity of 1.07%. The firm’s revenue was down 27.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.30 EPS.
Several other analysts have also recently commented on the stock. Vetr cut shares of Chevron Corp. from a “strong-buy” rating to a “buy” rating and set a $112.29 target price for the company. in a research note on Monday, October 10th. Barclays PLC restated an “equal weight” rating and issued a $125.00 target price on shares of Chevron Corp. in a research note on Monday, October 10th. Exane BNP Paribas began coverage on shares of Chevron Corp. in a research note on Monday, October 10th. They issued a “neutral” rating and a $102.00 target price for the company. Zacks Investment Research cut shares of Chevron Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 5th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $117.00 target price on shares of Chevron Corp. in a research note on Monday, September 26th. Thirteen investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $105.09.
Chevron Corp. (NYSE:CVX) opened at 101.08 on Friday. The firm’s market capitalization is $190.69 billion. The firm has a 50-day moving average of $101.00 and a 200 day moving average of $101.27. Chevron Corp. has a 12-month low of $75.33 and a 12-month high of $107.58.
In other Chevron Corp. news, insider Jeanette L. Ourada sold 7,000 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $101.70, for a total transaction of $711,900.00. Following the completion of the sale, the insider now owns 7,535 shares in the company, valued at $766,309.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Inge G. Thulin bought 487 shares of the stock in a transaction on Monday, August 15th. The shares were acquired at an average price of $102.87 per share, with a total value of $50,097.69. The disclosure for this purchase can be found here. Company insiders own 0.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in CVX. Thompson Davis & CO. Inc. raised its position in Chevron Corp. by 322.6% in the second quarter. Thompson Davis & CO. Inc. now owns 955 shares of the company’s stock valued at $100,000 after buying an additional 729 shares in the last quarter. RPg Family Wealth Advisory LLC raised its position in Chevron Corp. by 14.5% in the first quarter. RPg Family Wealth Advisory LLC now owns 1,058 shares of the company’s stock valued at $101,000 after buying an additional 134 shares in the last quarter. Global X Management Co. LLC raised its position in Chevron Corp. by 115.6% in the second quarter. Global X Management Co. LLC now owns 1,158 shares of the company’s stock valued at $121,000 after buying an additional 621 shares in the last quarter. Camarda Financial Advisors LLC purchased a new position in Chevron Corp. during the second quarter valued at approximately $122,000. Finally, Wealthcare Capital Management LLC purchased a new position in Chevron Corp. during the second quarter valued at approximately $128,000. Hedge funds and other institutional investors own 62.24% of the company’s stock.
About Chevron Corp.
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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