Chevron Co. (NYSE:CVX) Plans Quarterly Dividend of $1.63

Chevron Co. (NYSE:CVX) declared a quarterly dividend on Friday, April 26th, Zacks reports. Investors of record on Friday, May 17th will be given a dividend of 1.63 per share by the oil and gas company on Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Thursday, May 16th.

Chevron has raised its dividend by an average of 5.4% annually over the last three years and has raised its dividend every year for the last 37 years. Chevron has a dividend payout ratio of 45.2% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 0.4 %

Shares of NYSE:CVX traded up $0.61 during midday trading on Friday, reaching $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 quick ratio of 1.01 and a current ratio of 1.27. Chevron has a 1-year low of $139.62 and a 1-year high of $171.70. The firm has a market cap of $308.10 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12. The company has a fifty day simple moving average of $156.58 and a two-hundred day simple moving average of $151.83.

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

Analyst Ratings Changes

Several equities analysts have weighed in on CVX shares. Raymond James lifted their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. Piper Sandler lifted their target price on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Wells Fargo & Company lifted their target price on Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Finally, UBS Group lifted their target price on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $184.75.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

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.