Chevron Co. (NYSE:CVX) Announces Quarterly Dividend of $1.51

Chevron Co. (NYSE:CVX – Get Rating) announced a quarterly dividend on Wednesday, January 25th, RTT News reports. Stockholders of record on Thursday, February 16th will be paid a dividend of 1.51 per share by the oil and gas company on Friday, March 10th. This represents a $6.04 annualized dividend and a dividend yield of 3.37%. This is an increase from Chevron’s previous quarterly dividend of $1.42.

Chevron has increased its dividend by an average of 6.1% per year over the last three years and has raised its dividend every year for the last 36 years. Chevron has a dividend payout ratio of 38.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Chevron to earn $15.70 per share next year, which means the company should continue to be able to cover its $5.68 annual dividend with an expected future payout ratio of 36.2%.

Chevron Price Performance

Shares of Chevron stock traded down $1.75 during trading on Wednesday, hitting $179.08. The stock had a trading volume of 6,304,948 shares, compared to its average volume of 7,591,172. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.40 and a quick ratio of 1.15. The firm has a market cap of $346.28 billion, a P/E ratio of 10.29, a PEG ratio of 0.81 and a beta of 1.18. The business has a fifty day moving average of $177.39 and a two-hundred day moving average of $166.01. Chevron has a fifty-two week low of $128.07 and a fifty-two week high of $189.68.

Chevron (NYSE:CVX – Get Rating) last announced its quarterly earnings data on Friday, October 28th. The oil and gas company reported $5.56 earnings per share for the quarter, beating the consensus estimate of $5.02 by $0.54. Chevron had a return on equity of 22.36% and a net margin of 14.36%. The business had revenue of $66.64 billion during the quarter, compared to analyst estimates of $61.44 billion. During the same quarter in the prior year, the firm posted $2.96 earnings per share. The company’s revenue was up 49.1% on a year-over-year basis. On average, sell-side analysts expect that Chevron will post 18.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on CVX shares. Morgan Stanley upped their target price on Chevron from $196.00 to $197.00 and gave the company an “equal weight” rating in a report on Tuesday. BNP Paribas downgraded Chevron from a “neutral” rating to an “underperform” rating and set a $190.00 target price for the company. in a report on Wednesday, December 14th. Mizuho downgraded Chevron from a “buy” rating to a “neutral” rating and upped their target price for the company from $185.00 to $200.00 in a report on Tuesday, January 10th. Bank of America downgraded Chevron from a “buy” rating to a “neutral” rating and upped their target price for the company from $190.00 to $191.00 in a report on Friday, January 6th. Finally, Barclays upped their target price on Chevron from $196.00 to $212.00 and gave the company an “overweight” rating in a report on Tuesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and a consensus target price of $186.71.

Insider Activity

In other news, CEO Michael K. Wirth sold 55,380 shares of the stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $185.09, for a total transaction of $10,250,284.20. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Michael K. Wirth sold 55,380 shares of the stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $185.09, for a total transaction of $10,250,284.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Pierre R. Breber sold 25,000 shares of the stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $179.64, for a total value of $4,491,000.00. Following the sale, the chief financial officer now owns 8 shares of the company’s stock, valued at approximately $1,437.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 293,563 shares of company stock valued at $53,186,421. Insiders own 0.32% of the company’s stock.

Institutional Trading of Chevron

A number of hedge funds have recently modified their holdings of CVX. Cowa LLC lifted its position in shares of Chevron by 9,133.2% in the 1st quarter. Cowa LLC now owns 481,883 shares of the oil and gas company’s stock worth $785,000 after acquiring an additional 476,664 shares during the period. First Trust Advisors LP raised its holdings in shares of Chevron by 13.8% in the 1st quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after buying an additional 250,840 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Chevron by 1.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,697,160 shares of the oil and gas company’s stock worth $2,393,138,000 after buying an additional 189,762 shares in the last quarter. Mariner LLC raised its holdings in shares of Chevron by 17.8% in the 1st quarter. Mariner LLC now owns 944,275 shares of the oil and gas company’s stock worth $153,760,000 after buying an additional 142,874 shares in the last quarter. Finally, ING Groep NV raised its holdings in shares of Chevron by 40.3% in the 1st quarter. ING Groep NV now owns 457,610 shares of the oil and gas company’s stock worth $74,513,000 after buying an additional 131,495 shares in the last quarter. Institutional investors own 69.37% of the company’s stock.

About Chevron

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Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.