Chevron Target of Unusually High Options Trading (CVX)
Chevron (NYSE:CVX) saw some unusual options trading activity on Thursday. Traders acquired 14,392 call options on the stock, Analyst Ratings Net reports. This represents an increase of approximately 152% compared to the typical volume of 5,711 call options.
In other Chevron news, EVP Michael K. Wirth sold 75,000 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $129.15, for a total value of $9,686,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
CVX has been the subject of a number of recent research reports. Analysts at Oppenheimer raised their price target on shares of Chevron from $130.00 to $140.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Chevron in a research note on Tuesday, August 26th. They now have a $134.00 price target on the stock. Finally, 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. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $137.14.
Shares of Chevron (NYSE:CVX) traded down 0.83% during mid-day trading on Thursday, hitting $126.80. 5,153,994 shares of the company’s stock traded hands. Chevron has a 52 week low of $109.27 and a 52 week high of $135.10. The stock’s 50-day moving average is $129.0 and its 200-day moving average is $124.0. The company has a market cap of $240.8 billion and a P/E ratio of 12.21.
Chevron (NYSE:CVX) last released its earnings data on Friday, August 1st. The company reported $2.98 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $2.77 earnings per share. Analysts expect that Chevron will post $10.73 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend 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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