Chevron Corporation (CVX) To Go Ex-Dividend on May 19th

Chevron Corporation (NYSE:CVX) announced a quarterly dividend on Friday, May 1st. Stockholders of record on Tuesday, May 19th will be paid a dividend of 1.78 per share by the oil and gas company on Wednesday, June 10th. This represents a c) annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, May 19th.

Chevron has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 38 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 $12.10 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 58.8%.

Chevron Stock Performance

Shares of CVX stock opened at $190.79 on Friday. The firm has a 50-day moving average of $193.08 and a 200-day moving average of $171.23. The company has a market cap of $380.12 billion, a P/E ratio of 33.07, a P/E/G ratio of 0.71 and a beta of 0.51. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86. Chevron has a one year low of $133.77 and a one year high of $214.71.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate of $0.97 by $0.44. The company had revenue of $48.61 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.18 earnings per share. Equities research analysts forecast that Chevron will post 14.13 EPS for the current fiscal year.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 272,624 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $189.35, for a total transaction of $51,621,354.40. Following the completion of the transaction, the chief executive officer owned 31,266 shares in the company, valued at $5,920,217.10. This trade represents a 89.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the transaction, the insider owned 11,337 shares of the company’s stock, valued at $2,130,449.04. This represents a 92.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 695,439 shares of company stock valued at $131,274,332. 0.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chevron

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Midwest Capital Advisors LLC bought a new position in shares of Chevron in the first quarter valued at approximately $25,000. Phillip James Consulting Co. purchased a new position in shares of Chevron during the fourth quarter worth approximately $26,000. Core Wealth Advisors LLC purchased a new position in shares of Chevron during the fourth quarter worth approximately $26,000. Karpus Management Inc. purchased a new position in shares of Chevron during the fourth quarter worth approximately $27,000. Finally, Basso Capital Management L.P. purchased a new position in shares of Chevron in the fourth quarter worth $27,000. Institutional investors own 72.42% of the company’s stock.

About Chevron

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.