Chevron Co. Announces Quarterly Dividend of $1.63 (NYSE:CVX)

Chevron Co. (NYSE:CVX) declared a quarterly dividend on Friday, April 26th, Zacks reports. Stockholders of record on Friday, May 17th will be given a dividend of 1.63 per share by the oil and gas company on Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Thursday, May 16th.

Chevron has increased its dividend by an average of 5.4% annually over the last three years and has raised its dividend annually for the last 37 consecutive years. Chevron has a dividend payout ratio of 45.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Chevron to earn $15.66 per share next year, which means the company should continue to be able to cover its $6.52 annual dividend with an expected future payout ratio of 41.6%.

Chevron Trading Up 0.4 %

NYSE CVX opened at $165.89 on Friday. Chevron has a 1-year low of $139.62 and a 1-year high of $171.70. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $308.10 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 2.44 and a beta of 1.12. The firm’s fifty day simple moving average is $156.58 and its 200-day simple moving average is $151.73.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. Chevron’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.55 earnings per share. As a group, sell-side analysts anticipate that Chevron will post 13.58 earnings per share for the current fiscal year.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Barclays assumed coverage on shares of Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a report on Tuesday, February 6th. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a report on Monday, January 8th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a report on Monday, April 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $184.75.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. 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 of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.