Chevron Corporation (NYSE:CVX) to Issue Quarterly Dividend of $1.78

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) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Wednesday, August 19th.

Chevron has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 38 consecutive years. Chevron has a dividend payout ratio of 73.9% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Up 2.5%

Shares of NYSE CVX traded up $4.79 during mid-day trading on Friday, hitting $197.10. 9,922,431 shares of the stock traded hands, compared to its average volume of 11,124,849. 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 cap of $392.55 billion, a price-to-earnings ratio of 34.16, a PEG ratio of 0.59 and a beta of 0.50. The stock has a fifty day moving average price of $181.83 and a 200-day moving average price of $184.88.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.51. The company had revenue of $67.20 billion for the quarter, compared to analysts’ expectations of $62.72 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.77 earnings per share. Research analysts anticipate that Chevron will post 15.64 EPS for the current year.

Chevron Company Profile

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.