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

Chevron Co. (NYSE:CVX) was the target of some unusual options trading on Friday. Investors acquired 93,873 call options on the stock. This is an increase of 157% compared to the typical volume of 36,581 call options.

Analysts Set New Price Targets

Several analysts have issued reports on the company. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. UBS Group upped their price objective on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a report on Monday, November 4th. Truist Financial increased their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Barclays boosted their price target on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, Bank of America initiated coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $174.93.

Hedge Funds Weigh In On Chevron

Several large investors have recently modified their holdings of CVX. Rational Advisors LLC bought a new stake in Chevron in the 3rd quarter worth about $29,000. Legacy Investment Solutions LLC bought a new stake in Chevron in the 3rd quarter worth about $29,000. Darwin Wealth Management LLC bought a new stake in Chevron in the 3rd quarter worth about $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron in the 3rd quarter worth about $31,000. Finally, Anfield Capital Management LLC increased its holdings in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE:CVX opened at $161.42 on Friday. The stock has a market cap of $290.09 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 3.63 and a beta of 1.09. The firm’s fifty day simple moving average is $149.39 and its 200 day simple moving average is $152.62. Chevron has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

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

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

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.