Chevron Co. (NYSE:CVX) announced a quarterly dividend on Wednesday, July 29th, RTT News reports. Investors of record on Wednesday, August 19th will be paid a dividend of 1.29 per share by the oil and gas company on Thursday, September 10th. This represents a $5.16 annualized dividend and a dividend yield of 5.98%.
Chevron has increased its dividend by an average of 11.0% annually over the last three years and has increased its dividend every year for the last 34 years. Chevron has a payout ratio of -2,715.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Chevron to earn $2.86 per share next year, which means the company may not be able to cover its $5.16 annual dividend with an expected future payout ratio of 180.4%.
CVX opened at $86.27 on Friday. Chevron has a 12 month low of $51.60 and a 12 month high of $125.27. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.01 and a quick ratio of 0.78. The stock has a market cap of $168.16 billion, a P/E ratio of 13.56, a P/E/G ratio of 22.41 and a beta of 1.29. The stock’s 50 day moving average price is $89.07 and its 200 day moving average price is $92.64.
Chevron (NYSE:CVX) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.93 EPS for the quarter, beating the consensus estimate of $0.64 by $1.29. Chevron had a return on equity of 8.28% and a net margin of 2.71%. The firm had revenue of $31.50 billion for the quarter, compared to analysts’ expectations of $30.46 billion. During the same period last year, the firm earned $1.47 EPS. The firm’s revenue was down 10.5% compared to the same quarter last year. Equities analysts anticipate that Chevron will post 0.8 EPS for the current year.
Several brokerages have recently issued reports on CVX. Independent Research cut Chevron to a “hold” rating in a research report on Tuesday, April 14th. Scotiabank lifted their price target on Chevron from $90.00 to $95.00 and gave the company a “sector outperform” rating in a research report on Monday, July 13th. UBS Group cut Chevron from a “buy” rating to a “neutral” rating and set a $95.00 price target on the stock. in a research report on Tuesday, May 12th. Raymond James lifted their price target on Chevron from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, July 20th. Finally, Mizuho lowered their price target on Chevron from $140.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $111.25.
Chevron Company Profile
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.
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