Chevron Co. (CVX) To Go Ex-Dividend on November 18th

Chevron Co. (NYSE:CVX) announced a quarterly dividend on Friday, November 1st,Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Monday, November 18th.

Chevron has increased its dividend payment by an average of 5.4% per year over the last three years and has increased its dividend annually for the last 37 consecutive years. Chevron has a payout ratio of 56.7% indicating that its dividend is sufficiently covered by earnings. 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 Stock Down 0.2 %

Shares of NYSE CVX opened at $161.42 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $149.39 and a 200 day moving average price of $152.68. Chevron has a 52 week low of $135.37 and a 52 week high of $167.11. The stock has a market capitalization of $290.09 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 3.57 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the previous year, the company earned $3.05 EPS. The company’s quarterly revenue was down 6.3% on a year-over-year basis. Equities research analysts anticipate that Chevron will post 10.55 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on CVX. Bank of America started coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Mizuho reduced their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. UBS Group increased their target price on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a report on Monday, November 4th. Barclays boosted their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company decreased their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Chevron currently 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.