Chevron Corporation (CVX) To Go Ex-Dividend on February 17th

Chevron Corporation (NYSE:CVX) announced a quarterly dividend on Friday, January 30th. Shareholders of record on Tuesday, February 17th will be given a dividend of 1.78 per share by the oil and gas company on Tuesday, March 10th. This represents a c) annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, February 17th. This is a 4.1% increase from Chevron’s previous quarterly dividend of $1.71.

Chevron has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 38 consecutive years. Chevron has a dividend payout ratio of 73.9% meaning 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 $7.12 annual dividend with an expected future payout ratio of 56.6%.

Chevron Stock Up 0.7%

Shares of NYSE:CVX opened at $183.65 on Friday. The firm has a market capitalization of $369.79 billion, a P/E ratio of 27.58, a P/E/G ratio of 12.35 and a beta of 0.70. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 1.15. The stock has a 50 day moving average price of $162.51 and a 200-day moving average price of $157.43. Chevron has a 52-week low of $132.04 and a 52-week high of $186.52.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. Chevron had a return on equity of 8.23% and a net margin of 6.51%.The business had revenue of $45.79 billion during the quarter, compared to the consensus estimate of $48.18 billion. During the same quarter in the prior year, the company earned $2.06 earnings per share. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron will post 10.79 EPS for the current fiscal year.

Insider Activity

In other news, CFO Eimear P. Bonner sold 32,100 shares of Chevron stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $175.01, for a total value of $5,617,821.00. Following the completion of the sale, the chief financial officer directly owned 4,366 shares in the company, valued at $764,093.66. The trade was a 88.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John B. Hess sold 275,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the sale, the director owned 1,128,045 shares in the company, valued at $170,052,783.75. This represents a 19.60% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 793,163 shares of company stock valued at $127,920,502. Corporate insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Chevron

A number of institutional investors and hedge funds have recently modified their holdings of the company. Arete Wealth Advisors LLC increased its position in Chevron by 1.6% during the fourth quarter. Arete Wealth Advisors LLC now owns 22,361 shares of the oil and gas company’s stock valued at $3,409,000 after acquiring an additional 351 shares during the last quarter. FORA Capital LLC grew its stake in shares of Chevron by 927.8% during the 4th quarter. FORA Capital LLC now owns 71,115 shares of the oil and gas company’s stock valued at $10,839,000 after purchasing an additional 64,196 shares during the period. Burton Enright Welch purchased a new stake in shares of Chevron during the 4th quarter valued at about $12,599,000. Kestra Advisory Services LLC lifted its stake in shares of Chevron by 3.7% in the 4th quarter. Kestra Advisory Services LLC now owns 326,405 shares of the oil and gas company’s stock worth $49,747,000 after purchasing an additional 11,722 shares during the period. Finally, Searle & CO. boosted its holdings in shares of Chevron by 2.6% in the fourth quarter. Searle & CO. now owns 38,038 shares of the oil and gas company’s stock worth $5,797,000 after buying an additional 950 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

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.