Chevron logged a -1.7% change during today's morning session, and is now trading at a price of $159.15 per share.
Over the last year, Chevron logged a -1.6% change, with its stock price reaching a high of $171.7 and a low of $139.62. Over the same period, the stock underperformed the S&P 500 index by -22.5%. AThe company's 50-day average price was $157.85. Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. Based in San Ramon, CA, the Large-Cap Energy company has 45,600 full time employees. Chevron has offered a 3.8% dividend yield over the last 12 months.
Generally Positive Cash Flows but an Average Current Ratio:
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (M) | $166,339 | $146,516 | $94,692 | $162,465 | $246,252 | $200,949 |
| Operating Margins | 12% | 4% | -8% | 13% | 20% | 15% |
| Net Margins | 9% | 2% | -6% | 10% | 14% | 11% |
| Net Income (M) | $14,824 | $2,924 | -$5,543 | $15,625 | $35,465 | $21,369 |
| Net Interest Expense (M) | $748 | $798 | $697 | $712 | $516 | $469 |
| Depreciation & Amort. (M) | $19,419 | $29,218 | $19,508 | $17,925 | $16,319 | $17,326 |
| Diluted Shares (M) | 1,914 | 1,895 | 1,870 | 1,920 | 1,940 | 1,880 |
| Earnings Per Share | $7.74 | $1.54 | -$2.96 | $8.14 | $18.28 | $11.36 |
| EPS Growth | n/a | -80.1% | -292.21% | 375.0% | 124.57% | -37.86% |
| Avg. Price | $96.55 | $99.89 | $77.09 | $96.37 | $147.4 | $159.15 |
| P/E Ratio | 12.36 | 64.45 | -26.04 | 11.82 | 8.03 | 13.95 |
| Free Cash Flow (M) | $16,826 | $13,198 | $1,655 | $21,131 | $37,628 | $19,780 |
| CAPEX (M) | $13,792 | $14,116 | $8,922 | $8,056 | $11,974 | $15,829 |
| EV / EBITDA | 5.36 | 6.36 | 15.06 | 5.54 | 4.5 | 6.84 |
| Total Debt (M) | $39,356 | $31,762 | $37,049 | $33,691 | $27,389 | $25,379 |
| Net Debt / EBITDA | 0.75 | 0.9 | 3.04 | 0.84 | 0.15 | 0.37 |
| Current Ratio | 1.25 | 1.07 | 1.18 | 1.26 | 1.47 | 1.27 |
Chevron benefits from generally positive cash flows, growing revenues and a flat capital expenditure trend, and decent operating margins with a positive growth rate. The company's financial statements show positive EPS growth and healthy leverage levels. Furthermore, Chevron has just enough current assets to cover current liabilities, as shown by its current ratio of 1.27.
Chevron's Valuation Is in Line With Its Sector Averages:
Chevron has a trailing twelve month P/E ratio of 14.5, compared to an average of 13.84 for the Energy sector. Based on its EPS guidance of $14.05, the company has a forward P/E ratio of 11.2. The 8.9% compound average growth rate of Chevron's historical and projected earnings per share yields a PEG ratio of 1.63. This suggests that these shares are overvalued. In contrast, the market is likely undervaluing Chevron in terms of its equity because its P/B ratio is 1.83 while the sector average is 2.05. The company's shares are currently trading 7.6% below their Graham number.
Chevron Has an Average Rating of Buy:
The 22 analysts following Chevron have set target prices ranging from $155.0 to $206.0 per share, for an average of $181.9 with a buy rating. The company is trading -12.5% away from its average target price, indicating that there is an analyst consensus of some upside potential.
Chevron has an average amount of shares sold short because 2.7% of the company's shares are sold short. Institutions own 67.4% of the company's shares, and the insider ownership rate stands at 6.73%, suggesting a large amount of insider shareholders. The largest shareholder is Vanguard Group Inc, whose 9% stake in the company is worth $25,579,265,157.
