Chevron Target of Unusually High Options Trading (NYSE:CVX)

Chevron Co. (NYSE:CVX - Get Free Report) was the target of some unusual options trading activity on Thursday. Stock traders bought 62,811 put options on the stock. This represents an increase of 60% compared to the average volume of 39,225 put options.

Analyst Ratings Changes

Several research analysts recently issued reports on CVX shares. Royal Bank of Canada cut their price objective on Chevron from $190.00 to $180.00 and set an "outperform" rating for the company in a research report on Monday, August 5th. Truist Financial cut their price target on Chevron from $156.00 to $154.00 and set a "hold" rating for the company in a report on Monday, August 5th. Wolfe Research began coverage on Chevron in a research note on Thursday, July 18th. They set a "peer perform" rating on the stock. Sanford C. Bernstein downgraded shares of Chevron from an "outperform" rating to a "market perform" rating and cut their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, Barclays decreased their price target on shares of Chevron from $203.00 to $185.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, Chevron currently has a consensus rating of "Moderate Buy" and a consensus price target of $183.82.

Chevron Trading Up 1.0 %

CVX traded up $1.34 on Thursday, reaching $139.22. 6,591,521 shares of the company's stock were exchanged, compared to its average volume of 7,785,972. The company has a market cap of $254.62 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 2.34 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron has a twelve month low of $135.37 and a twelve month high of $171.70. The company's 50 day moving average is $149.75 and its 200-day moving average is $154.92.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts' consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion during the quarter, compared to analysts' expectations of $48.68 billion. During the same period in the prior year, the business posted $3.08 EPS. The business's revenue was up 4.7% on a year-over-year basis. Equities analysts predict that Chevron will post 11.86 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.68%. Chevron's dividend payout ratio (DPR) is currently 59.98%.

Hedge Funds Weigh In On Chevron

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Gilbert & Cook Inc. lifted its stake in shares of Chevron by 3.7% in the fourth quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company's stock worth $1,538,000 after acquiring an additional 369 shares in the last quarter. Aveo Capital Partners LLC boosted its stake in shares of Chevron by 1.0% during the 4th quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company's stock valued at $1,285,000 after buying an additional 82 shares during the last quarter. Gryphon Financial Partners LLC grew its position in shares of Chevron by 55.0% during the fourth quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company's stock worth $1,648,000 after buying an additional 4,047 shares in the last quarter. Savvy Advisors Inc. bought a new stake in shares of Chevron in the fourth quarter worth $271,000. Finally, Legacy Capital Group California Inc. acquired a new stake in Chevron in the fourth quarter valued at $470,000. 72.42% of the stock is owned by institutional investors and hedge funds.

About Chevron

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.

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