Chevron Corporation Sees Unusually High Options Volume (NYSE:CVX)

Chevron Corporation (NYSE:CVX) was the recipient of some unusual options trading on Thursday. Stock investors bought 18,524 put options on the company. This is an increase of approximately 214% compared to the average daily volume of 5,906 put options.

In related news, insider James William Johnson sold 31,000 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total value of $3,431,080.00. Following the completion of the transaction, the insider now owns 11,000 shares of the company’s stock, valued at $1,217,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the chief financial officer now directly owns 43,838 shares of the company’s stock, valued at approximately $4,866,018. The disclosure for this sale can be found here. Insiders sold 72,312 shares of company stock valued at $8,008,343 in the last three months. 0.38% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Employees Retirement System of Texas boosted its position in Chevron Corporation by 97.7% in the fourth quarter. Employees Retirement System of Texas now owns 463,500 shares of the oil and gas company’s stock valued at $54,554,000 after buying an additional 229,000 shares during the period. First Allied Advisory Services Inc. boosted its position in Chevron Corporation by 13.2% in the fourth quarter. First Allied Advisory Services Inc. now owns 72,479 shares of the oil and gas company’s stock valued at $8,531,000 after buying an additional 8,472 shares during the period. Meridian Wealth Management LLC bought a new position in Chevron Corporation during the fourth quarter valued at $954,000. Cim Investment Mangement Inc. boosted its position in Chevron Corporation by 1.2% in the fourth quarter. Cim Investment Mangement Inc. now owns 13,705 shares of the oil and gas company’s stock valued at $1,613,000 after buying an additional 165 shares during the period. Finally, Total Investment Management Inc. bought a new position in Chevron Corporation during the fourth quarter valued at $234,000. Hedge funds and other institutional investors own 62.75% of the company’s stock.

A number of research analysts have commented on CVX shares. Zacks Investment Research raised Chevron Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Chevron Corporation in a report on Thursday, August 3rd. BNP Paribas raised Chevron Corporation from an “underperform” rating to a “neutral” rating and set a $105.00 target price on the stock in a report on Monday, August 7th. BidaskClub raised Chevron Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, TheStreet downgraded Chevron Corporation from a “b” rating to a “c+” rating in a report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Chevron Corporation has a consensus rating of “Buy” and a consensus price target of $116.80.

Shares of Chevron Corporation (CVX) opened at 106.48 on Friday. The firm has a market capitalization of $201.78 billion, a PE ratio of 34.53 and a beta of 1.23. The company has a 50-day moving average price of $106.43 and a 200 day moving average price of $107.47. Chevron Corporation has a 52-week low of $97.53 and a 52-week high of $119.00.

Chevron Corporation (NYSE:CVX) last posted its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The firm had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $32.77 billion. During the same quarter in the previous year, the company posted ($0.78) EPS. Chevron Corporation’s revenue was up 17.8% on a year-over-year basis. Analysts expect that Chevron Corporation will post $3.81 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 18th will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Wednesday, August 16th. Chevron Corporation’s dividend payout ratio (DPR) is presently 140.26%.

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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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