Chevron Corporation (NYSE:CVX) Plans Quarterly Dividend of $1.78

Key Points

• Chevron declared a quarterly dividend of $1.78 per share, payable June 10 to shareholders of record on May 19, which implies an annualized yield of about 3.7%.
• Dividend track record and coverage: Chevron has raised its dividend for 38 consecutive years and currently has a payout ratio of 73.9%, with analysts projecting the payout ratio could fall to about 58.8% based on a ~$12.10 forward EPS estimate.
• Recent results and outlook: Chevron beat Q1 estimates with EPS of $1.41 vs. $0.92 expected and revenue up 2.1% year-over-year, while sell-side analysts forecast roughly $14.13 in EPS for the current year.

Chevron Corporation (NYSE:CVX - Get Free Report) declared a quarterly dividend on Friday, May 1st. Shareholders of record on Tuesday, May 19th will be paid a dividend of 1.78 per share by the oil and gas company on Wednesday, June 10th. This represents a c) dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Tuesday, May 19th.

Chevron has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 38 years. Chevron has a payout ratio of 73.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Chevron to earn $12.10 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 58.8%.

Chevron Stock Performance

Shares of CVX stock traded down $2.52 during mid-day trading on Friday, hitting $190.79. The stock had a trading volume of 10,430,478 shares, compared to its average volume of 12,626,243. The firm has a market cap of $380.12 billion, a PE ratio of 28.65, a PEG ratio of 0.71 and a beta of 0.60. The company's 50-day simple moving average is $193.08 and its 200-day simple moving average is $171.09. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86. Chevron has a fifty-two week low of $133.77 and a fifty-two week high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.49. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The company's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $2.18 EPS. Sell-side analysts anticipate that Chevron will post 14.13 earnings per share for the current year.

About Chevron

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.

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