Chevron Corporation (NYSE:CVX) is set to announce third quarter earning results on Friday 30th October 2020, before market open.
Analysts surveyed by Thomson Reuters are predicting, CVX to report 3Q20 loss of $ 0.27 per share.
For the full year, analysts anticipate top line of $ 101045.00 million, while looking forward to loss of $ 0.48 per share bottom line.
Previous Quarter Performance
Chevron Corporation outlined loss for the second quarter of $ 1.59 per share, from the revenue of $ 13,494.00 million. The quarterly revenues fell 65.27 percent compared with the same quarter last year. Street analysts expected Chevron Corporation to report loss of $ 0.92 per share on revenue of $ 22096.50 million for the second quarter. The bottom line results missed street analysts by $ 0.67 or 72.83 percent, at the same time, top line results fell short of analysts by $ 8 million or 38.93 percent.
Stock Performance
Shares of Chevron Corporation traded up $ 1.92 or 2.87 percent on Thursday, reaching $ 68.80 with volume of 12.03 million shares. Chevron Corporation has traded high as $ 69.14 and has cracked $ 65.16 on the downward trend
According to the previous trading day, closing price of $ 68.80, representing a 29.61 % increase from the 52 week low of $ 51.60 and a 45.6 % decrease over the 52 week high of $ 122.94.
The company has a market capital of $ 132.44 billion and is part of the Energy sector and Oil & Gas Integrated industry.
Recent Analyst recommendations
- On 19th October 2020, maintained by Morgan Stanley at Overweight rating, with $ 105.00 target price.
- On 28th September 2020, upgraded by Bank of America to Buy from Neutral rating.
- On 24th September 2020, downgraded by Scotiabank to Sector Perform from Sector Outperform rating.
- On 24th September 2020, initiated by MKM Partners at Buy rating, with $ 121.00 target price.
Recent Stock Dividend Announcement
On July 29, 2020, the board of directors authorized quarterly dividend of $ 1.29 per share to holders of record as of the close of business on August 19, 2020, with payment date of September 10, 2020 and ex-dividend date on August 18, 2020.
Conference Call
Chevron Corporation will be hosting a conference call at 11:00 AM eastern time on 30th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.chevron.com
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production 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.
