Chevron Sees Unusually Large Options Volume (NYSE:CVX)

Chevron Co. (NYSE:CVX) was the recipient of some unusual options trading activity on Wednesday. Stock investors bought 67,239 call options on the stock. This is an increase of 34% compared to the average daily volume of 50,218 call options.

Chevron Price Performance

Shares of CVX opened at $145.56 on Thursday. The company has a market capitalization of $274.78 billion, a P/E ratio of 10.81, a price-to-earnings-growth ratio of 0.74 and a beta of 1.16. The company has a quick ratio of 0.97, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The firm has a 50 day moving average of $159.63 and a 200 day moving average of $158.50. Chevron has a twelve month low of $141.73 and a twelve month high of $187.82.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 27th. The oil and gas company reported $3.05 earnings per share for the quarter, missing the consensus estimate of $3.70 by ($0.65). The firm had revenue of $54.08 billion for the quarter, compared to the consensus estimate of $51.41 billion. Chevron had a net margin of 12.11% and a return on equity of 16.15%. Chevron’s revenue was down 18.9% on a year-over-year basis. During the same period last year, the business earned $5.56 EPS. As a group, equities research analysts anticipate that Chevron will post 13.59 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Thursday, November 16th. Chevron’s dividend payout ratio (DPR) is currently 44.84%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Morgan Stanley lowered their price objective on shares of Chevron from $203.00 to $201.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 17th. HSBC increased their price target on shares of Chevron from $180.00 to $184.00 in a research note on Wednesday, August 9th. Sanford C. Bernstein raised shares of Chevron from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $184.00 to $182.00 in a research note on Thursday, November 2nd. StockNews.com initiated coverage on shares of Chevron in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group raised shares of Chevron from a “neutral” rating to a “buy” rating and increased their price target for the stock from $166.00 to $187.00 in a research note on Monday, July 31st. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $187.89.

Institutional Investors Weigh In On Chevron

Institutional investors and hedge funds have recently made changes to their positions in the company. NorthCrest Asset Manangement LLC grew its position in Chevron by 247.8% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 3,400 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 5,700 shares during the period. Picton Mahoney Asset Management bought a new stake in Chevron in the 3rd quarter worth approximately $26,000. Valley Forge Investment Consultants Inc. ADV grew its position in Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares during the period. NewSquare Capital LLC grew its position in Chevron by 52.3% in the 1st quarter. NewSquare Capital LLC now owns 195 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 67 shares during the period. Finally, Artemis Wealth Advisors LLC bought a new stake in Chevron in the 1st quarter worth approximately $33,000. Institutional investors own 68.87% of the company’s stock.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.