Chevron Co. (NYSE:CVX) Declares Quarterly Dividend of $1.71

Chevron Co. (NYSE:CVX) declared a quarterly dividend on Friday, January 31st,NASDAQ Dividends reports. Shareholders of record on Friday, February 14th will be paid a dividend of 1.71 per share by the oil and gas company on Monday, March 10th. This represents a $6.84 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63.

Chevron has raised its dividend payment by an average of 7.1% annually over the last three years and has increased its dividend annually for the last 35 consecutive years. Chevron has a payout ratio of 51.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Chevron to earn $11.45 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 56.9%.

Chevron Stock Performance

Shares of NYSE CVX traded down $7.11 during trading hours on Friday, reaching $149.21. The stock had a trading volume of 16,725,506 shares, compared to its average volume of 6,860,612. The firm has a 50-day moving average of $153.19 and a 200-day moving average of $151.14. The firm has a market cap of $268.14 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 1.35 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 13.15% and a net margin of 8.44%. During the same quarter in the previous year, the business earned $3.45 EPS. Equities research analysts predict that Chevron will post 10.18 earnings per share for the current year.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research reports. Scotiabank reduced their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Tuesday, November 5th. Wells Fargo & Company lifted their target price on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Barclays upped their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Piper Sandler lowered their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

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.