Chevron Co. to Issue Quarterly Dividend of $1.71 (NYSE:CVX)

Chevron Co. (NYSE:CVX - Get Free Report) announced a quarterly dividend on Friday, May 2nd, RTT News reports. Stockholders of record on Monday, May 19th will be paid a dividend of 1.71 per share by the oil and gas company on Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 4.94%.

Chevron has increased its dividend payment by an average of 7.1% per year over the last three years and has increased its dividend every year for the last 38 years. Chevron has a payout ratio of 66.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Chevron to earn $12.59 per share next year, which means the company should continue to be able to cover its $6.84 annual dividend with an expected future payout ratio of 54.3%.

Chevron Price Performance

CVX traded up $2.27 during trading on Friday, reaching $138.53. 12,386,040 shares of the stock were exchanged, compared to its average volume of 7,969,291. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market capitalization of $243.90 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 1.46 and a beta of 0.93. Chevron has a 1 year low of $132.04 and a 1 year high of $168.96. The business's 50 day moving average price is $149.76 and its two-hundred day moving average price is $152.56.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period in the previous year, the firm earned $2.93 EPS. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron will post 10.79 earnings per share for the current year.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent research reports. BNP Paribas cut shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Barclays cut Chevron from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Scotiabank lowered Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Royal Bank of Canada reissued an "outperform" rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Finally, Wells Fargo & Company decreased their price target on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Chevron has a consensus rating of "Hold" and an average price target of $165.27.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares of the company's stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% 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.