Today Chevron Corporation Had High Bullish Options Activity

 Today Chevron Corporation Had High Bullish Options Activity

In today’s session Chevron Corporation (CVX) registered an unusually high (381) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the February, 2017 call, expecting serious CVX increase. With 381 contracts traded and 1274 open interest for the Feb, 17 contract, it seems this is a quite bullish bet. The option with symbol: CVX170217C00110000 closed last at: $4.75 or 4.4% up. About 3.27M shares traded hands. Chevron Corporation (NYSE:CVX) has risen 9.35% since April 25, 2016 and is uptrending. It has outperformed by 3.33% the S&P500.

Analysts await Chevron Corporation (NYSE:CVX) to report earnings on February, 3. They expect $0.71 earnings per share, up 329.03% or $1.02 from last year’s $-0.31 per share. CVX’s profit will be $1.34 billion for 39.19 P/E if the $0.71 EPS becomes a reality. After $0.68 actual earnings per share reported by Chevron Corporation for the previous quarter, Wall Street now forecasts 4.41% EPS growth.

Chevron Corporation (NYSE:CVX) Ratings Coverage

Out of 29 analysts covering Chevron Corporation (NYSE:CVX), 19 rate it a “Buy”, 0 “Sell”, while 10 “Hold”. This means 66% are positive. Chevron Corporation has been the topic of 52 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The stock of Chevron Corporation (NYSE:CVX) has “Outperform” rating given on Monday, December 21 by Macquarie Research. JP Morgan upgraded Chevron Corporation (NYSE:CVX) rating on Friday, September 11. JP Morgan has “Overweight” rating and $86 price target. On Tuesday, September 29 the stock rating was upgraded by Wolfe Research to “Peer Perform”. The stock of Chevron Corporation (NYSE:CVX) earned “Sector Outperform” rating by Howard Weil on Monday, December 14. The firm has “Neutral” rating given on Monday, August 24 by Bank of America. On Wednesday, March 9 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. Raymond James downgraded the stock to “Market Perform” rating in Tuesday, March 22 report. The stock has “Buy” rating given by Evercore on Tuesday, November 3. The firm has “Overweight” rating by JP Morgan given on Tuesday, December 15. As per Tuesday, November 1, the company rating was upgraded by Morgan Stanley.

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 increased to 1.07 in Q2 2016. Its up 0.12, from 0.95 in 2016Q1. The ratio is positive, 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.
Ajo L P has 1.12 million shares for 0.52% of their US portfolio. Moreover, Equity Invest Corporation Ga has 2.8% invested in Chevron Corporation (NYSE:CVX) for 856,930 shares. Ims Capital, a Oregon-based fund reported 4,986 shares. Seabridge Investment Advsrs Ltd Liability Co holds 0% of its portfolio in Chevron Corporation (NYSE:CVX) for 150 shares. Moreover, Daiwa Group Inc has 0.06% invested in Chevron Corporation (NYSE:CVX) for 99,768 shares. Moreover, Advantus Capital Mgmt has 0.54% invested in Chevron Corporation (NYSE:CVX) for 183,399 shares. Geode Capital Ltd Liability Company, a Massachusetts-based fund reported 15.57M shares. Mai Capital Management last reported 0.53% of its portfolio in the stock. The Illinois-based Nuveen Asset Mngmt Lc has invested 0.59% in Chevron Corporation (NYSE:CVX). Wunderlich Capital Managemnt last reported 0.99% of its portfolio in the stock. International Sarl accumulated 0.66% or 73,554 shares. Moreover, Mu Invs Limited has 0.22% invested in Chevron Corporation (NYSE:CVX) for 3,100 shares. Savant Capital Lc, a Illinois-based fund reported 16,583 shares. Sumitomo Mitsui Asset Communications Ltd holds 0.69% of its portfolio in Chevron Corporation (NYSE:CVX) for 217,552 shares. Wetherby Asset Mgmt last reported 31,946 shares in the company.

Insider Transactions: Since August 1, 2016, the stock had 1 insider buy, and 9 insider sales for $23.84 million net activity. JOHNSON JAMES WILLIAM sold 10,945 shares worth $1.11 million. 487 shares were bought by THULIN INGE G, worth $50,096 on Monday, August 15. Another trade for 3,000 shares valued at $315,750 was made by Breber Pierre R on Friday, November 4. Another trade for 125,000 shares valued at $12.56M was made by Wirth Michael K on Monday, August 1. Geagea Joseph C sold 26,000 shares worth $2.67 million. Pate R. Hewitt had sold 25,500 shares worth $2.76M. 7,000 Chevron Corporation (NYSE:CVX) shares with value of $711,893 were sold by Ourada Jeanette L.

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 $210.09 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 Fool.com which published an article titled: “Chevron Corporation Upgraded: 3 Things You Need to Know” on October 31, 2016.

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