Chevron Corporation (CVX) To Go Ex-Dividend on August 19th

Chevron Corporation (NYSE:CVX) declared a quarterly dividend on Friday, July 31st. Stockholders of record on Wednesday, August 19th will be given a dividend of 1.78 per share by the oil and gas company on Thursday, September 10th. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Wednesday, August 19th.

Chevron has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 38 consecutive years. Chevron has a payout ratio of 73.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Chevron to earn $13.48 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 52.8%.

Chevron Trading Up 2.5%

Shares of CVX stock opened at $197.10 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. Chevron has a 52-week low of $146.49 and a 52-week high of $214.71. The company has a market capitalization of $392.55 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 0.61 and a beta of 0.50. The business’s fifty day moving average is $181.95 and its 200 day moving average is $184.96.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.55 by $0.51. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. During the same quarter last year, the company earned $1.77 earnings per share. The firm’s quarterly revenue was up 57.4% on a year-over-year basis. On average, equities research analysts anticipate that Chevron will post 15.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.56% of the stock is owned by insiders.

Hedge Funds Weigh In On Chevron

A number of hedge funds and other institutional investors have recently modified their holdings of CVX. Curtis Advisory Group LLC bought a new stake in Chevron during the 4th quarter valued at $1,381,000. Indivisible Partners purchased a new stake in Chevron during the 4th quarter valued at $1,923,000. Janney Montgomery Scott LLC boosted its position in Chevron by 6.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company’s stock valued at $258,853,000 after buying an additional 79,439 shares during the period. Galaxy Digital Inc. bought a new stake in Chevron in the 1st quarter worth $2,028,000. Finally, Nations Financial Group Inc. IA ADV grew its holdings in Chevron by 35.0% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 42,882 shares of the oil and gas company’s stock worth $6,536,000 after acquiring an additional 11,120 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.