Chevron Corporation (CVX) to Distribute Quarterly Dividend of $1.78 on September 10th

Chevron Corporation (NYSE:CVX) announced a quarterly dividend on Wednesday, July 29th. Shareholders of record on Wednesday, August 19th will be paid a dividend of 1.78 per share by the oil and gas company on Thursday, September 10th. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, August 19th.

Chevron has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 38 consecutive years. Chevron has a dividend payout ratio of 73.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Chevron to earn $13.99 per share next year, which means the company should continue to be able to cover its $7.12 annual dividend with an expected future payout ratio of 50.9%.

Chevron Stock Performance

CVX opened at $199.99 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The company has a market cap of $395.13 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 0.61 and a beta of 0.49. The stock has a 50-day moving average of $183.30 and a 200-day moving average of $187.01. Chevron has a 52-week low of $146.49 and a 52-week high of $214.71.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The business had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. During the same period last year, the business earned $1.77 EPS. The firm’s revenue was up 57.4% compared to the same quarter last year. As a group, equities research analysts forecast that Chevron will post 15.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Scotiabank lifted their price target on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Bank of America upped their price objective on shares of Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Weiss Ratings upgraded shares of Chevron from a “hold (c)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Jefferies Financial Group reiterated a “buy” rating and issued a $216.00 target price on shares of Chevron in a report on Friday, July 10th. Finally, Mizuho set a $224.00 target price on shares of Chevron in a research report on Monday, August 3rd. Twenty equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $207.48.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.