Chevron Corporation (NYSE:CVX) to Issue $1.71 Quarterly Dividend

Key Points

• Chemical Corporation has declared a quarterly dividend of $1.71 per share, payable on September 10th to investors on record as of August 19th, with a dividend yield of 4.5%.
• The company's earnings per share for the last quarter were reported at $1.77, exceeding analysts' expectations, while revenue was $44.82 billion, down 12.4% year over year.
• Analysts have mixed ratings for Chevron, with price targets ranging from $158.00 to $180.00, resulting in a consensus target price of $164.11.

Chevron Corporation (NYSE:CVX - Get Free Report) declared a quarterly dividend on Monday, August 4th, Wall Street Journal reports. Investors of record on Tuesday, August 19th will be paid a dividend of 1.71 per share by the oil and gas company on Wednesday, September 10th. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Tuesday, August 19th.

Chevron has a payout ratio of 71.0% indicating that its dividend is sufficiently covered by earnings. 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 Stock Down 0.4%

Shares of CVX stock traded down $0.59 during trading on Monday, reaching $150.81. The company's stock had a trading volume of 10,081,925 shares, compared to its average volume of 9,502,146. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The company has a market capitalization of $263.37 billion, a price-to-earnings ratio of 19.41, a P/E/G ratio of 2.31 and a beta of 0.87. The stock's 50-day moving average price is $146.86 and its 200 day moving average price is $148.73. Chevron has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.80%. The business's quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.55 earnings per share. On average, research analysts anticipate that Chevron will post 10.79 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on CVX shares. Evercore ISI reiterated an "outperform" rating and set a $180.00 price target on shares of Chevron in a report on Thursday. Mizuho lowered their price target on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and lowered their price target for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Wells Fargo & Company restated an "overweight" rating and set a $178.00 price objective on shares of Chevron in a research report on Friday. Finally, BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Chevron currently has an average rating of "Hold" and a consensus target price of $164.11.

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.

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