Traders Buy High Volume of Call Options on Chevron Corporation (CVX)
Chevron Corporation (NYSE:CVX) was the recipient of unusually large options trading on Tuesday. Investors acquired 35,638 call options on the company. This represents an increase of approximately 544% compared to the average volume of 5,534 call options.
In related news, Director Linnet F. Deily sold 2,312 shares of Chevron Corporation stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total value of $248,262.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Patricia E. Yarrington sold 39,000 shares of Chevron Corporation stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the completion of the sale, the chief financial officer now directly owns 43,838 shares in the company, valued at approximately $4,866,018. The disclosure for this sale can be found here. Insiders sold a total of 72,312 shares of company stock worth $8,008,343 in the last 90 days. Company insiders own 0.38% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Biegel & Waller LLC purchased a new stake in shares of Chevron Corporation during the fourth quarter valued at approximately $529,000. Shepherd Financial Partners LLC purchased a new stake in shares of Chevron Corporation during the fourth quarter valued at approximately $877,000. Summit Global Investments purchased a new stake in shares of Chevron Corporation during the fourth quarter valued at approximately $2,157,000. Cigna Investments Inc. New purchased a new stake in shares of Chevron Corporation during the fourth quarter valued at approximately $8,345,000. Finally, L & S Advisors Inc purchased a new stake in shares of Chevron Corporation during the fourth quarter valued at approximately $693,000. Hedge funds and other institutional investors own 62.75% of the company’s stock.
CVX has been the topic of a number of research reports. Scotiabank set a $114.00 price target on shares of Chevron Corporation and gave the stock a “buy” rating in a report on Monday, May 1st. TheStreet raised shares of Chevron Corporation from a “c” rating to a “b” rating in a report on Tuesday, May 2nd. Bank of America Corporation reaffirmed a “buy” rating and issued a $135.00 price target (down previously from $145.00) on shares of Chevron Corporation in a report on Thursday, May 11th. BNP Paribas cut shares of Chevron Corporation from a “neutral” rating to an “underperform” rating and set a $100.00 price target on the stock. in a report on Friday, May 26th. Finally, Exane BNP Paribas cut shares of Chevron Corporation from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $105.00 to $100.00 in a report on Friday, May 26th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $116.80.
Chevron Corporation (NYSE:CVX) opened at 105.92 on Friday. Chevron Corporation has a 12-month low of $97.53 and a 12-month high of $119.00. The company has a market cap of $200.72 billion, a PE ratio of 34.35 and a beta of 1.23. The stock has a 50 day moving average of $106.37 and a 200 day moving average of $107.51.
Chevron Corporation (NYSE:CVX) last issued its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.02. The business had revenue of $34.48 billion for the quarter, compared to analysts’ expectations of $32.77 billion. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The company’s revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.78) EPS. Equities analysts expect that Chevron Corporation will post $3.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $4.32 annualized dividend and a dividend yield of 4.08%. Chevron Corporation’s payout ratio is 140.26%.
Chevron Corporation Company Profile
Chevron Corporation (Chevron) 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 integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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