Could Chevron Corporation Change Direction After Today’s Bullish Options Activity?

 Could Chevron Corporation Change Direction After Today's Bullish Options Activity?

In today’s session Chevron Corporation (CVX) registered an unusually high (160) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious CVX increase. With 160 contracts traded and 13984 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: CVX161118C00104000 closed last at: $2.7 or 17.9% up. About 2.76M shares traded hands. Chevron Corporation (NYSE:CVX) has risen 13.07% since April 5, 2016 and is uptrending. It has outperformed by 11.11% the S&P500.

Chevron Corporation (NYSE:CVX) Ratings Coverage

Out of 28 analysts covering Chevron Corporation (NYSE:CVX), 18 rate it a “Buy”, 0 “Sell”, while 10 “Hold”. This means 64% are positive. Chevron Corporation has been the topic of 51 analyst reports since August 4, 2015 according to StockzIntelligence Inc. Tudor Pickering upgraded Chevron Corporation (NYSE:CVX) on Monday, September 21 to “Accumulate” rating. Bank of America upgraded Chevron Corporation (NYSE:CVX) on Monday, August 24 to “Neutral” rating. As per Wednesday, September 23, the company rating was initiated by Macquarie Research. The company was maintained on Wednesday, March 9 by RBC Capital Markets. The stock of Chevron Corporation (NYSE:CVX) has “Neutral” rating given on Wednesday, March 9 by Credit Suisse. The company was initiated on Tuesday, September 13 by BMO Capital Markets. Raymond James downgraded the shares of CVX in a report on Tuesday, March 22 to “Market Perform” rating. The stock of Chevron Corporation (NYSE:CVX) has “Buy” rating given on Wednesday, December 16 by Argus Research. UBS maintained the shares of CVX in a report on Monday, May 2 with “Neutral” rating. The rating was initiated by Nomura on Friday, March 18 with “Neutral”.

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 dropped, 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.
Kcm Investment Advsrs Ltd holds 1.73% of its portfolio in Chevron Corporation (NYSE:CVX) for 236,232 shares. Ledyard State Bank owns 28,776 shares or 0.54% of their US portfolio. S R Schill & reported 7,797 shares or 0.55% of all its holdings. Insight 2811 Inc has invested 0.14% of its portfolio in Chevron Corporation (NYSE:CVX). Schafer Cullen Capital Management has invested 1.83% of its portfolio in Chevron Corporation (NYSE:CVX). Jaffetilchin Inv Prtn Ltd Liability Co holds 0.2% of its portfolio in Chevron Corporation (NYSE:CVX) for 6,175 shares. Fishman Jay A Limited Mi has 9,412 shares for 0% of their US portfolio. Gruss And holds 0.51% of its portfolio in Chevron Corporation (NYSE:CVX) for 4,000 shares. Icon Advisers Company holds 1.48% or 207,500 shares in its portfolio. Lvm Management Limited Mi has 29,995 shares for 0.91% of their US portfolio. Krasney Limited holds 0.1% of its portfolio in Chevron Corporation (NYSE:CVX) for 4,074 shares. Canandaigua Financial Bank Trust owns 57,589 shares or 1.72% of their US portfolio. Ww Asset Mgmt Incorporated, a Michigan-based fund reported 216,110 shares. The New York-based New York State Common Retirement Fund has invested 0.86% in Chevron Corporation (NYSE:CVX). Leavell Invest Management holds 0.71% or 45,902 shares in its portfolio.

Insider Transactions: Since August 1, 2016, the stock had 1 insider buy, and 5 insider sales for $19.07 million net activity. Breber Pierre R sold $2.07M worth of stock. Another trade for 7,000 shares valued at $711,893 was sold by Ourada Jeanette L. $12.56M worth of shares were sold by Wirth Michael K on Monday, August 1. Another trade for 26,000 shares valued at $2.67M was made by Geagea Joseph C on Friday, August 12. 10,945 shares with value of $1.11 million were sold by JOHNSON JAMES WILLIAM on Wednesday, August 10. The insider THULIN INGE G bought $50,096.

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 $201.65 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 news for Chevron Corporation (NYSE:CVX) were recently published by: Fool.com, which released: “Chevron Corporation Upgraded: 3 Things You Need to Know” on October 31, 2016. Valuewalk.com‘s article titled: “Dividend Aristocrats In Focus Part 6: Chevron Corporation (CVX)” and published on October 19, 2016 is yet another important article.

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