Chevron Corporation Target of Unusually Large Options Trading (CVX)
Chevron Corporation (NYSE:CVX) was the recipient of some unusual options trading activity on Thursday. Traders bought 11,953 put options on the stock. This represents an increase of approximately 167% compared to the average daily volume of 4,471 put options.
In other Chevron Corporation news, CFO Patricia E. Yarrington sold 39,000 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $111.00, for a total value of $4,329,000.00. Following the completion of the sale, the chief financial officer now owns 43,838 shares in the company, valued at approximately $4,866,018. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Linnet F. Deily sold 2,312 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total transaction of $248,262.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,312 shares of company stock valued at $8,008,343. Company insiders own 0.38% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the business. Intl Fcstone Inc. boosted its position in shares of Chevron Corporation by 133.6% in the second quarter. Intl Fcstone Inc. now owns 33,875 shares of the oil and gas company’s stock worth $3,534,000 after purchasing an additional 19,374 shares during the period. M Holdings Securities Inc. boosted its position in shares of Chevron Corporation by 65.5% in the second quarter. M Holdings Securities Inc. now owns 23,996 shares of the oil and gas company’s stock worth $2,504,000 after purchasing an additional 9,494 shares during the period. Griffin Asset Management Inc. bought a new position in shares of Chevron Corporation in the second quarter worth approximately $10,196,000. Aldebaran Financial Inc. boosted its position in shares of Chevron Corporation by 8.3% in the second quarter. Aldebaran Financial Inc. now owns 15,651 shares of the oil and gas company’s stock worth $1,633,000 after purchasing an additional 1,203 shares during the period. Finally, Lord Abbett & CO. LLC boosted its position in shares of Chevron Corporation by 11.3% in the second quarter. Lord Abbett & CO. LLC now owns 3,949,441 shares of the oil and gas company’s stock worth $412,045,000 after purchasing an additional 401,842 shares during the period. Institutional investors and hedge funds own 62.84% of the company’s stock.
CVX has been the subject of several analyst reports. Macquarie lowered shares of Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 price objective for the company. in a research note on Wednesday, June 21st. Piper Jaffray Companies reiterated a “buy” rating on shares of Chevron Corporation in a research note on Thursday, August 3rd. BidaskClub lowered shares of Chevron Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Wells Fargo & Company downgraded shares of Chevron Corporation to an “outperform” rating and reduced their target price for the company from $124.00 to $102.00 in a research report on Monday, July 17th. Finally, Vetr raised shares of Chevron Corporation to a “strong-buy” rating and set a $117.49 target price for the company in a research report on Thursday, June 8th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $116.40.
Chevron Corporation (NYSE:CVX) opened at 110.78 on Friday. The firm has a 50-day moving average of $108.14 and a 200 day moving average of $107.10. Chevron Corporation has a one year low of $97.53 and a one year high of $119.00. The company has a market capitalization of $209.93 billion, a P/E ratio of 35.92 and a beta of 1.23.
Chevron Corporation (NYSE:CVX) last posted its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.02. The business had revenue of $34.48 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business posted ($0.78) earnings per share. On average, equities analysts forecast that Chevron Corporation will post $3.87 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 18th will be given a $1.08 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.90%. Chevron Corporation’s payout ratio is currently 140.26%.
About Chevron Corporation
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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