Stock Traders Buy High Volume of Call Options on Chevron (NYSE:CVX)

Chevron Co. (NYSE:CVX) saw some unusual options trading on Friday. Stock investors acquired 93,873 call options on the stock. This is an increase of approximately 157% compared to the average daily volume of 36,581 call options.

Institutional Trading of Chevron

Several institutional investors have recently added to or reduced their stakes in the business. Rational Advisors LLC bought a new stake in Chevron during the third quarter valued at about $29,000. Legacy Wealth Managment LLC ID bought a new stake in Chevron during the third quarter valued at about $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron in the third quarter valued at about $30,000. RPg Family Wealth Advisory LLC bought a new position in shares of Chevron in the third quarter worth about $31,000. Finally, Anfield Capital Management LLC grew its position in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on CVX shares. Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Barclays upped their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Truist Financial lifted their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, November 4th. UBS Group boosted their price target on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average target price of $174.93.

Chevron Trading Down 0.2 %

CVX stock traded down $0.38 on Friday, reaching $161.42. The company’s stock had a trading volume of 9,009,582 shares, compared to its average volume of 7,677,757. The firm has a market cap of $290.09 billion, a PE ratio of 17.74, a PEG ratio of 3.57 and a beta of 1.09. The business has a fifty day simple moving average of $148.93 and a two-hundred day simple moving average of $152.71. Chevron has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.05 EPS. As a group, research analysts forecast that Chevron will post 10.55 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.04%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

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; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.