Chevron Sees Unusually Large Options Volume (NYSE:CVX)

Chevron Corporation (NYSE:CVX) was the target of unusually large options trading activity on Monday. Traders purchased 99,603 call options on the company. This is an increase of approximately 103% compared to the typical volume of 49,067 call options.

Analyst Ratings Changes

A number of research analysts have weighed in on CVX shares. Barclays reaffirmed an “equal weight” rating on shares of Chevron in a report on Tuesday, July 15th. Hsbc Global Res cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and cut their price objective for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. UBS Group dropped their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Finally, TD Cowen dropped their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $161.31.

Hedge Funds Weigh In On Chevron

Several institutional investors have recently added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new stake in shares of Chevron during the 4th quarter worth approximately $25,000. Harvest Fund Management Co. Ltd lifted its position in shares of Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 122 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron in the fourth quarter worth $29,000. 10Elms LLP bought a new stake in shares of Chevron in the fourth quarter worth $29,000. Finally, Elequin Capital LP bought a new stake in Chevron during the first quarter worth $31,000. 72.42% of the stock is owned by institutional investors.

Chevron Stock Down 0.3%

CVX stock opened at $149.65 on Tuesday. Chevron has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The company has a market cap of $261.35 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 2.48 and a beta of 0.83. The company has a 50 day moving average of $144.04 and a two-hundred day moving average of $148.68.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. Chevron’s revenue was down 2.3% compared to the same quarter last year. During the same period last year, the business posted $2.93 EPS. On average, equities analysts anticipate that Chevron will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date was Monday, May 19th. Chevron’s payout ratio is 78.17%.

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.