Chevron Corporation’s Stock Is Buy After Today’s Bullish Options Activity

 Chevron Corporation's Stock Is Buy After Today's Bullish Options Activity

In today’s session Chevron Corporation (CVX) registered an unusually high (10,138) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious CVX increase. With 10,138 contracts traded and 236354 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: CVX170120C00110000 closed last at: $0.77 or 18.1% down. About 1.18 million shares traded hands. Chevron Corporation (NYSE:CVX) has risen 16.79% since March 3, 2016 and is uptrending. It has outperformed by 8.45% the S&P500.

Analysts await Chevron Corporation (NYSE:CVX) to report earnings on November, 4. They expect $0.62 earnings per share, down 43.12% or $0.47 from last year’s $1.09 per share. CVX’s profit will be $1.18 billion for 41.02 P/E if the $0.62 EPS becomes a reality. After $0.48 actual earnings per share reported by Chevron Corporation for the previous quarter, Wall Street now forecasts 29.17% EPS growth.

Chevron Corporation (NYSE:CVX) Ratings Coverage

Out of 27 analysts covering Chevron Corporation (NYSE:CVX), 16 rate it a “Buy”, 0 “Sell”, while 11 “Hold”. This means 59% are positive. $122 is the highest target while $65 is the lowest. The $96.55 average target is -5.10% below today’s ($101.74) stock price. Chevron Corporation has been the topic of 49 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The firm earned “Overweight” rating on Tuesday, August 9 by PiperJaffray. The rating was downgraded by Simmons & Co to “Neutral” on Thursday, January 21. The stock of Chevron Corporation (NYSE:CVX) earned “Accumulate” rating by Tudor Pickering on Monday, September 21. Bank of America upgraded Chevron Corporation (NYSE:CVX) on Monday, August 24 to “Neutral” rating. The stock of Chevron Corporation (NYSE:CVX) earned “Outperform” rating by BMO Capital Markets on Tuesday, September 13. The stock of Chevron Corporation (NYSE:CVX) earned “Strong-Buy” rating by Vetr on Friday, August 28. Barclays Capital maintained the shares of CVX in a report on Tuesday, January 12 with “Equal Weight” rating. On Monday, July 11 the stock rating was maintained by Jefferies with “Buy”. The stock of Chevron Corporation (NYSE:CVX) has “Buy” rating given on Wednesday, December 2 by Citigroup. The stock has “Outperform” rating given by Cowen & Co on Tuesday, December 15.

According to Zacks Investment Research, “Chevron is the fifth-largest integrated energy company in the world. Headquartered in San Ramon, California, and conducting business in approximately 180 countries, this highly competitive corporation is engaged in every aspect of the oil and natural gas industry, including exploration and production; refining, marketing and transportation; chemicals manufacturing and sales; and power generation.”

Insitutional Activity: The institutional sentiment decreased to 0.95 in Q2 2016. Its down 0.27, from 1.22 in 2016Q1. The ratio dived, as 51 funds sold all Chevron Corporation shares owned while 677 reduced positions. 71 funds bought stakes while 624 increased positions. They now own 1.15 billion shares or 3.23% less from 1.18 billion shares in 2016Q1.
Capital Guardian Tru Company last reported 1.98 million shares in the company. Advisor Prtn Ltd Liability Com holds 1.13% or 30,869 shares in its portfolio. Hemenway Tru Ltd Llc reported 56,437 shares or 1.54% of all its holdings. Narwhal holds 21,670 shares or 0.71% of its portfolio. Tiaa Cref Tru Company Fsb Mo last reported 0.15% of its portfolio in the stock. Scotia Cap, a Ontario – Canada-based fund reported 90,538 shares. C M Bidwell & Associate Ltd has 46,910 shares for 1.22% of their US portfolio. Scout Invs, a Missouri-based fund reported 2,281 shares. Kanawha Capital Limited Company owns 100,377 shares or 1.76% of their US portfolio. Capital owns 14.24M shares or 0.51% of their US portfolio. Moreover, Peavine Cap Mngmt Limited has 0.12% invested in Chevron Corporation (NYSE:CVX) for 2,512 shares. Commonwealth Fin Services Ltd Limited Liability Company has invested 0.02% of its portfolio in Chevron Corporation (NYSE:CVX). Honeywell Interest last reported 2.12% of its portfolio in the stock. Nelson Roberts Investment, a California-based fund reported 52,848 shares. The Texas-based Fiduciary Svcs Of The Southwest Tx has invested 0.4% in Chevron Corporation (NYSE:CVX).

Insider Transactions: Since May 2, 2016, the stock had 1 buy, and 6 sales for $19.16 million net activity. Another trade for 26,000 shares valued at $2.67 million was sold by Geagea Joseph C. Shares for $12.56 million were sold by Wirth Michael K. JOHNSON JAMES WILLIAM sold $1.11M worth of stock. Another trade for 21,000 shares valued at $2.07 million was sold by Breber Pierre R. Deily Linnet F had sold 869 shares worth $89,745. $50,096 worth of shares were bought by THULIN INGE G on Monday, August 15. $711,893 worth of shares were sold by Ourada Jeanette L on Thursday, August 25.

Chevron Corporation manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The company has a market cap of $193.75 billion. The Firm operates through two business divisions: Upstream and Downstream. It currently has negative earnings. The Upstream segment consists primarily of exploring for, developing and producing natural gas and crude oil; transporting crude oil by international oil export pipelines; transporting, storage and marketing of natural gas, and a gas-to-liquids plant.

CVX Company Profile

Chevron Corporation (Chevron), incorporated on January 27, 1926, manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in fully integrated petroleum operations, chemicals operations, mining activities, power generation and energy services. Upstream activities consist primarily of exploring for, developing and producing natural gas and crude oil; processing, liquefaction, transportation and regasification associated with liquefied natural gas; transporting crude oil by international oil export pipelines; transporting, storage and marketing of natural gas, and a gas-to-liquids project. Downstream activities consist primarily of refining crude oil into petroleum products; marketing of crude oil and refined products; transporting crude oil and refined products by pipeline, marine vessel, motor equipment and rail car, and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses and fuel and lubricant additives.

Another recent and important Chevron Corporation (NYSE:CVX) news was published by Valuewalk.com which published an article titled: “Chevron Corporation (CVX): How Safe Is The Dividend?” on September 26, 2016.

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