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

Chevron Corporation (NYSE:CVX) was the recipient of unusually large options trading on Monday. Investors bought 156,195 call options on the company. This represents an increase of 101% compared to the typical volume of 77,746 call options.

Chevron Stock Up 2.6%

Shares of Chevron stock traded up $4.98 during trading on Monday, hitting $196.08. 9,839,278 shares of the stock traded hands, compared to its average volume of 12,276,852. The stock has a market cap of $390.52 billion, a P/E ratio of 33.98, a PEG ratio of 0.64 and a beta of 0.51. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. Chevron has a twelve month low of $133.77 and a twelve month high of $214.71. The company has a fifty day moving average price of $193.14 and a two-hundred day moving average price of $173.38.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. During the same period last year, the business earned $2.18 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts predict that Chevron will post 15.43 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be paid a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to divest certain Asia-Pacific downstream assets to ENEOS for roughly $2.2 billion, a move that could improve portfolio focus and capital efficiency. Chevron to Divest Some Asia-Pacific Assets to Japan’s Eneos
• Positive Sentiment: Chevron CEO Mike Wirth’s warning about potential physical oil shortages has reinforced the bullish case for upstream energy producers if supply tightens further. Chevron’s CEO Just Warned of Physical Oil Shortages
• Positive Sentiment: Unusually heavy call buying in Chevron signals increased bullish options activity and trader expectations for further upside.
• Neutral Sentiment: Recent articles note Chevron is drawing strong attention from investors and analysts, which may reflect growing interest rather than a direct catalyst. Is Chevron (CVX) a Buy as Wall Street Analysts Look Optimistic?
• Neutral Sentiment: Chevron is also being highlighted as a trending stock and possible dividend play, but these pieces are more commentary than new company-specific news. Chevron Corporation (CVX) Is a Trending Stock: Facts to Know Before Betting on It Is Chevron (CVX) One of the Best Rising Dividend Stocks to Buy Right Now?

Insider Activity

In other Chevron news, Director John B. Hess sold 195,000 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $184.78, for a total transaction of $36,032,100.00. Following the completion of the sale, the director directly owned 658,045 shares in the company, valued at approximately $121,593,555.10. This trade represents a 22.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $187.92, for a total value of $26,233,632.00. Following the sale, the insider owned 11,337 shares of the company’s stock, valued at $2,130,449.04. The trade was a 92.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 803,570 shares of company stock worth $151,969,798. Corporate insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Chevron by 17.9% in the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock valued at $28,540,753,000 after acquiring an additional 27,961,463 shares in the last quarter. State Street Corp raised its stake in shares of Chevron by 9.1% in the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after acquiring an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc increased its position in Chevron by 6.6% in the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after buying an additional 8,091,570 shares during the period. Geode Capital Management LLC increased its position in Chevron by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock worth $6,620,187,000 after buying an additional 134,890 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Chevron by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company’s stock worth $5,492,377,000 after buying an additional 961,341 shares during the period. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CVX shares. TD Cowen lifted their price target on Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a report on Friday, May 8th. BMO Capital Markets reiterated an “outperform” rating and set a $190.00 price target on shares of Chevron in a report on Monday, February 2nd. The Goldman Sachs Group reiterated a “buy” rating and set a $216.00 price target on shares of Chevron in a report on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a report on Wednesday, January 21st. Finally, Piper Sandler lifted their price target on Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $204.13.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.