Stock Traders Buy Large Volume of Chevron Call Options (CVX)
Shares of Chevron (NYSE:CVX) saw some unusual options trading on Thursday. Stock traders bought 27,803 call options on the stock, Stock Ratings Network reports. This is an increase of approximately 245% compared to the typical volume of 8,066 call options.
A number of analysts have recently weighed in on CVX shares. Analysts at Cowen and Company raised their price target on shares of Chevron from $135.00 to $144.00 in a research note on Tuesday, August 5th. They now have an “outperform” rating on the stock. Separately, analysts at Morgan Stanley downgraded shares of Chevron from an “overweight” rating to an “equal weight” rating in a research note on Monday, August 4th. They now have a $140.00 price target on the stock, up previously from $135.00. Finally, analysts at Barclays reiterated an “equal weight” rating on shares of Chevron in a research note on Friday, July 25th. They now have a $141.00 price target on the stock, up previously from $130.00. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Chevron has an average rating of “Buy” and a consensus target price of $136.62.
Shares of Chevron (NYSE:CVX) traded down 0.50% during mid-day trading on Thursday, hitting $126.96. The stock had a trading volume of 4,523,519 shares. Chevron has a 52-week low of $109.27 and a 52-week high of $135.10. The stock has a 50-day moving average of $130.0 and a 200-day moving average of $122.4. The company has a market cap of $241.1 billion and a price-to-earnings ratio of 12.18.
Chevron (NYSE:CVX) last released its earnings data on Friday, August 1st. The company reported $2.98 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.72 by $0.26. The company had revenue of $55.58 billion for the quarter, compared to the consensus estimate of $57.38 billion. During the same quarter in the prior year, the company posted $2.77 earnings per share. Analysts expect that Chevron will post $10.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Friday, August 15th.
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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