Chevron Co. (NYSE:CVX – Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Stock traders purchased 120,962 put options on the stock. This represents an increase of approximately 111% compared to the typical volume of 57,222 put options.

Chevron Stock Down 0.2 %

Shares of NYSE:CVX traded down $0.33 during trading on Wednesday, reaching $142.53. The stock had a trading volume of 17,565,752 shares, compared to its average volume of 8,504,290. Chevron has a one year low of $140.72 and a one year high of $187.81. The company has a market capitalization of $269.06 billion, a P/E ratio of 10.60, a PEG ratio of 0.76 and a beta of 1.11. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 0.12. The firm’s 50-day simple moving average is $153.32 and its 200 day simple moving average is $157.17.

Chevron (NYSE:CVX – Get Free Report) last released its quarterly earnings results on Friday, October 27th. The oil and gas company reported $3.05 earnings per share for the quarter, missing analysts’ consensus estimates of $3.70 by ($0.65). Chevron had a net margin of 12.11% and a return on equity of 16.15%. The firm had revenue of $54.08 billion during the quarter, compared to the consensus estimate of $51.41 billion. During the same quarter in the prior year, the business posted $5.56 earnings per share. The firm’s quarterly revenue was down 18.9% on a year-over-year basis. As a group, research analysts expect that Chevron will post 13.38 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date is Thursday, November 16th. Chevron’s dividend payout ratio is currently 44.84%.

Analysts Set New Price Targets

CVX has been the subject of several analyst reports. Truist Financial lowered their target price on shares of Chevron from $175.00 to $169.00 and set a “hold” rating for the company in a report on Tuesday, October 24th. Raymond James lowered their target price on shares of Chevron from $200.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, October 30th. UBS Group raised their target price on shares of Chevron from $209.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. BNP Paribas upgraded shares of Chevron from a “neutral” rating to an “outperform” rating and set a $190.00 target price for the company in a report on Thursday, October 12th. Finally, HSBC raised their price target on shares of Chevron from $180.00 to $184.00 in a research note on Wednesday, August 9th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $187.89.

Read Our Latest Stock Report on CVX

Institutional Trading of Chevron

Institutional investors have recently bought and sold shares of the stock. NorthCrest Asset Manangement LLC boosted its stake in Chevron by 247.8% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 3,400 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 5,700 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in Chevron during the 3rd quarter valued at approximately $26,000. Valley Forge Investment Consultants Inc. ADV lifted its stake in Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 80 shares during the period. DHJJ Financial Advisors Ltd. acquired a new stake in Chevron during the 3rd quarter valued at approximately $35,000. Finally, Worth Asset Management LLC acquired a new stake in Chevron during the 1st quarter valued at approximately $36,000. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Chevron Company Profile (Get Free Report)

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.

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Original: MarketBeat News Feed: Chevron Target of Unusually High Options Trading (NYSE:CVX)