Chevron Corporation (NYSE:CVX) declared a quarterly dividend on Wednesday, July 26th, RTT News reports. Shareholders of record on Friday, August 18th will be given a dividend of 1.08 per share by the oil and gas company on Monday, September 11th. This represents a $4.32 annualized dividend and a yield of 3.97%. The ex-dividend date is Wednesday, August 16th.
Chevron Corporation has increased its dividend payment by an average of 3.2% annually over the last three years and has raised its dividend annually for the last 31 consecutive years. Chevron Corporation has a payout ratio of 107.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Chevron Corporation to earn $4.76 per share next year, which means the company should continue to be able to cover its $4.32 annual dividend with an expected future payout ratio of 90.8%.
Shares of Chevron Corporation (NYSE:CVX) opened at 108.71 on Tuesday. The firm has a market cap of $206.01 billion, a price-to-earnings ratio of 35.25 and a beta of 1.23. Chevron Corporation has a 12-month low of $97.53 and a 12-month high of $119.00. The firm has a 50-day moving average price of $106.11 and a 200 day moving average price of $107.56.
Chevron Corporation (NYSE:CVX) last posted its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.02. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The company had revenue of $34.48 billion for the quarter, compared to the consensus estimate of $32.77 billion. During the same quarter in the previous year, the business earned ($0.78) EPS. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Corporation will post $3.80 earnings per share for the current fiscal year.
In other Chevron Corporation news, insider James William Johnson sold 31,000 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total value of $3,431,080.00. Following the transaction, the insider now directly owns 11,000 shares in the company, valued at approximately $1,217,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Patricia E. Yarrington sold 39,000 shares of the stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $111.00, for a total value of $4,329,000.00. Following the completion of the transaction, the chief financial officer now owns 43,838 shares in the company, valued at $4,866,018. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in CVX. Pathstone Family Office LLC increased its position in Chevron Corporation by 2.5% in the second quarter. Pathstone Family Office LLC now owns 813 shares of the oil and gas company’s stock worth $2,170,000 after buying an additional 20 shares during the period. Acrospire Investment Management LLC increased its position in Chevron Corporation by 133.3% in the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after buying an additional 800 shares during the period. Ffcm LLC increased its position in Chevron Corporation by 121.1% in the second quarter. Ffcm LLC now owns 1,501 shares of the oil and gas company’s stock worth $160,000 after buying an additional 822 shares during the period. Empirical Finance LLC bought a new position in Chevron Corporation during the second quarter worth $206,000. Finally, Chilton Investment Co. LLC increased its position in Chevron Corporation by 5.3% in the second quarter. Chilton Investment Co. LLC now owns 2,760 shares of the oil and gas company’s stock worth $288,000 after buying an additional 138 shares during the period. Hedge funds and other institutional investors own 62.75% of the company’s stock.
A number of equities research analysts have recently issued reports on CVX shares. TheStreet raised Chevron Corporation from a “c” rating to a “b” rating in a research report on Tuesday, May 2nd. Bank of America Corporation reaffirmed a “buy” rating and set a $135.00 target price (down from $145.00) on shares of Chevron Corporation in a research report on Thursday, May 11th. BMO Capital Markets set a $130.00 target price on Chevron Corporation and gave the stock a “buy” rating in a research report on Thursday, June 22nd. Scotiabank set a $114.00 target price on Chevron Corporation and gave the stock a “buy” rating in a research report on Monday, May 1st. Finally, HSBC Holdings plc raised Chevron Corporation from a “hold” rating to a “buy” rating and cut their target price for the stock from $124.00 to $119.00 in a research report on Monday, June 5th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Chevron Corporation has a consensus rating of “Buy” and an average price target of $116.80.
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Chevron Corporation Company Profile
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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