Chevron Co. (NYSE:CVX) Announces $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 payment by an average of 5.4% per year over the last three years and has raised its dividend annually for the last 37 consecutive years. Chevron has a payout ratio of 45.2% indicating that its dividend is sufficiently covered by earnings. 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 Stock Up 0.4 %

CVX traded up $0.61 on Friday, hitting $165.89. The company 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 52-week low of $139.62 and a 52-week high of $171.70. The stock has a fifty day simple moving average of $156.58 and a 200-day simple moving average of $151.83. The firm has a market capitalization of $308.10 billion, a P/E ratio of 14.60, a P/E/G ratio of 2.43 and a beta of 1.12.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CVX. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Barclays began coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a report on Monday, January 8th. Truist Financial dropped their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 5th. Finally, DZ Bank downgraded 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. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

Insider Buying and Selling

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $44,184.84. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.18% of the stock is currently owned by corporate 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.