Chevron Corp. surged to a record…

Chevron Corp. surged to a record Thursday morning after the oil titan announced a larger-than-expected dividend increase amid the highest crude prices since 2014. 

The shares rose as much as 3.3% to $137 in New York trading, extending the 12-month advance to about 55%. Chevron increased its quarterly payout by 6% to $1.42 a share after the close of regular trading on Wednesday, exceeding the Bloomberg Dividend Forecast by a penny.

The dividend increase and the company’s existing share repurchase program mean Chevron will distribute more than 40% of this year’s cash flow from operations to investors, Jefferies International Ltd. analysts Giacomo Romeo and Jamie Franklin said in a note to clients. That’s “materially higher” than the 33% sector average, they wrote.

The U.S. supermajor is scheduled to disclose quarterly results on Friday.   


Hippo Sighting Report

Help us out, we really appreciate it.

Help contribute to our research, and let us know if you have seen similar situations that we may have missed. Our team will review the details you provide and add to our main list once we verify the information.

stay informed

Subscribe and get the updated Hippo List.

Get notified when we release our updated lists by email.

Make a Donation

Thank you for subscribing!

We will send you an email to confirm your details.  Welcome aboard!

Thanks for sending us your report.

We will review your information, and publish in on our list once we validate the details.