Chevron Co. (NYSE:CVX) Plans Quarterly Dividend of $1.63

Chevron Co. (NYSE:CVX) announced a quarterly dividend on Friday, November 1st,Wall Street Journal reports. Shareholders of record on Monday, November 18th will be given a dividend of 1.63 per share by the oil and gas company on Tuesday, December 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Monday, November 18th.

Chevron has raised its dividend by an average of 5.4% per year over the last three years and has raised its dividend annually for the last 37 consecutive years. Chevron has a dividend payout ratio of 56.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Chevron to earn $12.28 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 53.1%.

Chevron Trading Down 0.2 %

Chevron stock opened at $161.42 on Friday. Chevron has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market capitalization of $290.09 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 3.63 and a beta of 1.09. The firm has a 50 day simple moving average of $149.39 and a 200-day simple moving average of $152.62.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period last year, the company posted $3.05 EPS. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, equities research analysts expect that Chevron will post 10.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CVX has been the topic of a number of research analyst reports. Mizuho lowered their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada lifted their price objective on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Bank of America assumed coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Truist Financial lifted their price target on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Finally, Barclays increased their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $174.93.

About Chevron

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.