Is Chevron Corporation a Sell? The Stock Had Bearish Options Activity Today

 Is Chevron Corporation a Sell? The Stock Had Bearish Options Activity Today

In today’s session Chevron Corporation (CVX) recorded an unusually high (593) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious CVX decrease. With 593 contracts traded and 12314 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: CVX161021P00099500 closed last at: $0.65 or 71.1% up. About 2.62 million shares traded hands. Chevron Corporation (NYSE:CVX) has risen 7.24% since March 14, 2016 and is uptrending. It has outperformed by 1.62% the S&P500.

Analysts await Chevron Corporation (NYSE:CVX) to report earnings on November, 4. They expect $0.62 EPS, down 43.12% or $0.47 from last year’s $1.09 per share. CVX’s profit will be $1.17 billion for 40.85 P/E if the $0.62 EPS becomes a reality. After $0.48 actual EPS 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. Chevron Corporation has been the topic of 49 analyst reports since August 4, 2015 according to StockzIntelligence Inc. Barclays Capital maintained Chevron Corporation (NYSE:CVX) on Monday, October 12 with “Equal-Weight” rating. As per Wednesday, September 23, the company rating was initiated by Macquarie Research. As per Tuesday, August 9, the company rating was upgraded by PiperJaffray. The rating was upgraded by Bank of America on Monday, August 24 to “Neutral”. The stock of Chevron Corporation (NYSE:CVX) has “Sector Outperform” rating given on Monday, December 14 by Howard Weil. The company was upgraded on Friday, March 11 by Goldman Sachs. S&P Research downgraded Chevron Corporation (NYSE:CVX) rating on Tuesday, August 4. S&P Research has “Hold” rating and $96 price target. The rating was maintained by JP Morgan with “Overweight” on Tuesday, December 15. The firm has “Buy” rating given on Monday, July 11 by Jefferies. The rating was upgraded by Wolfe Research to “Peer Perform” on Tuesday, September 29.

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 2016 Q2. Its down 0.27, from 1.22 in 2016Q1. The ratio worsened, 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.
Stratos Wealth Prtn Limited holds 0.45% of its portfolio in Chevron Corporation (NYSE:CVX) for 57,833 shares. Wespac Limited Liability Co accumulated 9,961 shares or 1.08% of the stock. Clearbridge Invs Limited Liability Corp last reported 0.24% of its portfolio in the stock. Enterprise Ser Corporation holds 16,928 shares or 1.05% of its portfolio. Rothschild Inv Il last reported 44,982 shares in the company. Syntal Partners Ltd Liability Corp last reported 2,595 shares in the company. Boltwood Mgmt last reported 36,595 shares in the company. Professional Advisory holds 0.1% or 4,000 shares in its portfolio. Moreover, Cullen Capital Mngmt Ltd has 2.84% invested in Chevron Corporation (NYSE:CVX) for 769,655 shares. Aull And Monroe Management Corporation reported 37,506 shares or 2.26% of all its holdings. Intl Group Inc Inc accumulated 0% or 4.89 million shares. Moreover, Selway Asset Mgmt has 0.84% invested in Chevron Corporation (NYSE:CVX) for 12,510 shares. Wealthfront reported 41,506 shares or 0.12% of all its holdings. Crossvault Cap Lc accumulated 1.45% or 19,521 shares. The Michigan-based Aspen Management has invested 0.78% in Chevron Corporation (NYSE:CVX).

Insider Transactions: Since May 2, 2016, the stock had 1 insider purchase, and 6 selling transactions for $19.16 million net activity. $1.11M worth of Chevron Corporation (NYSE:CVX) was sold by JOHNSON JAMES WILLIAM. Shares for $12.56 million were sold by Wirth Michael K. Breber Pierre R sold $2.07M worth of stock. Another trade for 26,000 shares valued at $2.67M was sold by Geagea Joseph C. Shares for $89,745 were sold by Deily Linnet F on Monday, May 2. 487 Chevron Corporation (NYSE:CVX) shares with value of $50,096 were bought by THULIN INGE G. Ourada Jeanette L sold $711,893 worth of stock.

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 $191.67 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.

More recent Chevron Corporation (NYSE:CVX) news were published by: Valuewalk.com which released: “Chevron Corporation (CVX): How Safe Is The Dividend?” on September 26, 2016. Also Seekingalpha.com published the news titled: “Chevron: Your Dividend Isn’t Safe” on October 13, 2016. Seekingalpha.com‘s news article titled: “Chevron Maintains Its Blue-Chip Dividend Status” with publication date: October 14, 2016 was also an interesting one.

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