Chevron Corp. Target of Unusually High Options Trading (CVX)
Shares of Chevron Corp. (NYSE:CVX) was the recipient of unusually large options trading activity on Tuesday. Traders purchased 20,467 put options on the stock, AnalystRatingsNetwork.com reports. This is an increase of 189% compared to the typical daily volume of 7,085 put options.
CVX has been the subject of a number of recent research reports. Analysts at TheStreet reiterated a “buy” rating on shares of Chevron Corp. in a research note to investors on Monday. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $129.29.
Shares of Chevron Corp. (NYSE:CVX) traded down 0.97% during mid-day trading on Tuesday, hitting $116.73. The stock had a trading volume of 6,746,957 shares. Chevron Corp. has a 1-year low of $100.66 and a 1-year high of $127.83. The stock has a 50-day moving average of $121.4 and a 200-day moving average of $121.. The company has a market cap of $225.5 billion and a P/E ratio of 9.55.
Chevron Corp. (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The company reported $2.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.03 by $0.26. The company had revenue of $57.37 billion for the quarter, compared to the consensus estimate of $56.12 billion. During the same quarter in the previous year, the company posted $3.66 earnings per share. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. Analysts expect that Chevron Corp. will post $12.13 EPS for the current fiscal year.
Chevron Corporation (NYSE:CVX) manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in fully integrated petroleum operations, chemicals operations, mining activities, power generation and energy services.
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