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

Chevron Co. (NYSE:CVX) announced a quarterly dividend on Friday, April 26th, Zacks reports. Shareholders of record on Friday, May 17th will be paid a dividend of 1.63 per share by the oil and gas company on Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 3.93%. The ex-dividend date 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 every year for the last 37 years. Chevron has a dividend payout ratio of 45.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 0.4 %

NYSE CVX traded up $0.61 during trading on Friday, hitting $165.89. The company’s stock had a trading volume of 9,736,350 shares, compared to its average volume of 7,082,480. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. Chevron has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The company has a market cap of $308.10 billion, a PE ratio of 14.60, a P/E/G ratio of 2.43 and a beta of 1.12. The business’s 50 day simple moving average is $156.58 and its 200-day simple moving average is $151.83.

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

Analyst Upgrades and Downgrades

CVX has been the subject of several recent research reports. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a research report on Tuesday, February 6th. Wells Fargo & Company lifted their price target on Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Royal Bank of Canada boosted their price objective on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, Mizuho boosted their price objective on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’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 completion of the sale, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.18% of the stock is owned by company insiders.

About Chevron

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.