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

Key Points

• Investors have shown a significant interest in Chevron Corporation by purchasing 121,783 call options, marking a 151% increase in trading volume compared to usual levels.
• Chevron recently reported an earnings per share (EPS) of $1.77 for the last quarter, exceeding expectations and showing a 12.4% decrease in revenue year-over-year.
• The company announced a quarterly dividend of $1.71, with an annualized dividend yield of 4.4% and a high payout ratio of 88.03%.

Chevron Corporation (NYSE:CVX - Get Free Report) was the recipient of unusually large options trading on Monday. Investors bought 121,783 call options on the company. Thisrepresentsanincreaseofapproximately151% compared to the typical volume of 48,432 call options.

Chevron Price Performance

Shares of NYSE:CVX traded down $1.11 during midday trading on Monday, hitting $155.44. The company had a trading volume of 8,167,489 shares, compared to its average volume of 9,379,217. Chevron has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The stock has a market cap of $268.60 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 2.35 and a beta of 0.87. The business's 50-day simple moving average is $150.13 and its 200-day simple moving average is $148.49.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%. The company had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. During the same quarter last year, the firm earned $2.55 earnings per share. The firm's quarterly revenue was down 12.4% compared to the same quarter last year. On average, research analysts predict that Chevron will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be issued a $1.71 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. Chevron's dividend payout ratio (DPR) is 88.03%.

Institutional Trading of Chevron

A number of institutional investors have recently bought and sold shares of the business. White Knight Strategic Wealth Advisors LLC lifted its position in Chevron by 3.0% during the second quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company's stock valued at $319,000 after buying an additional 65 shares during the period. Rakuten Securities Inc. lifted its position in Chevron by 7.4% during the second quarter. Rakuten Securities Inc. now owns 961 shares of the oil and gas company's stock valued at $138,000 after buying an additional 66 shares during the period. Analyst IMS Investment Management Services Ltd. raised its position in shares of Chevron by 1.0% in the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company's stock worth $966,000 after purchasing an additional 67 shares during the last quarter. Greenfield Savings Bank raised its position in shares of Chevron by 0.6% in the 2nd quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company's stock worth $1,663,000 after purchasing an additional 68 shares during the last quarter. Finally, Atwater Malick LLC raised its position in shares of Chevron by 2.4% in the 2nd quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company's stock worth $413,000 after purchasing an additional 68 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent analyst reports. Raymond James Financial restated an "outperform" rating on shares of Chevron in a report on Friday, August 1st. Redburn Atlantic restated a "sell" rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a report on Friday, July 18th. Mizuho dropped their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Finally, HSBC cut Chevron from a "buy" rating to a "hold" rating and lowered their target price for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $164.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.