Chevron (NYSE:CVX) Trading Up 0.5% Following Dividend Announcement

Chevron Co. (NYSE:CVX)’s share price traded up 0.5% during trading on Monday following a dividend announcement from the company. The company traded as high as $154.42 and last traded at $153.88. 1,523,656 shares were traded during mid-day trading, a decline of 80% from the average session volume of 7,633,884 shares. The stock had previously closed at $153.07.

The newly announced dividend which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. UBS Group raised their price objective on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research report on Monday. Bank of America initiated coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. 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 report on Friday, September 27th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, Barclays upped their price objective on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $174.27.

Chevron Trading Up 0.6 %

The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $147.07 and its 200 day moving average price is $152.91. The company has a market cap of $281.60 billion, a price-to-earnings ratio of 16.92, a P/E/G ratio of 3.29 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $3.08 earnings per share. As a group, equities analysts expect that Chevron Co. will post 10.74 EPS for the current year.

Institutional Investors Weigh In On Chevron

Hedge funds and other institutional investors have recently modified their holdings of the company. Montz Harcus Wealth Management LLC lifted its stake in shares of Chevron by 2.2% in the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after buying an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC lifted its stake in Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after acquiring an additional 64 shares in the last quarter. Cyndeo Wealth Partners LLC boosted its holdings in Chevron by 0.3% during the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after purchasing an additional 67 shares during the last quarter. S.A. Mason LLC boosted its stake in shares of Chevron by 0.7% in the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after buying an additional 67 shares during the last quarter. Finally, Jag Capital Management LLC grew its holdings in shares of Chevron by 5.2% in the third quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company’s stock valued at $201,000 after acquiring an additional 67 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

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.