Chevron Corporation (NYSE:CVX) Declares $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) announced a quarterly dividend on Monday, August 4th, Wall Street Journal reports. Shareholders 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 yield of 4.5%. The ex-dividend date is Tuesday, August 19th.

Chevron has a payout ratio of 71.0% meaning its dividend is sufficiently covered by earnings. 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 Stock Up 0.2%

NYSE:CVX traded up $0.31 on Thursday, reaching $153.09. The stock had a trading volume of 2,635,321 shares, compared to its average volume of 9,438,388. Chevron has a 12-month low of $132.04 and a 12-month high of $168.96. The stock has a market cap of $267.36 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 2.29 and a beta of 0.87. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average of $147.78 and a 200 day moving average of $148.71.

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

Hedge Funds Weigh In On Chevron

Hedge funds and other institutional investors have recently made changes to their positions in the company. Harvest Fund Management Co. Ltd increased its stake in Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 122 shares in the last quarter. Elequin Capital LP bought a new position in Chevron during the 1st quarter worth about $31,000. 10Elms LLP acquired a new stake in shares of Chevron in the 4th quarter valued at about $29,000. IFS Advisors LLC lifted its holdings in shares of Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 116 shares in the last quarter. Finally, Quaker Wealth Management LLC grew its holdings in shares of Chevron by 197.7% during the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company's stock worth $31,000 after buying an additional 439 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Company Profile

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.