Traders Buy High Volume of Chevron Call Options (NYSE:CVX)

Chevron Corporation (NYSE:CVX) was the target of some unusual options trading on Thursday. Investors bought 111,021 call options on the stock. This is an increase of approximately 58% compared to the average volume of 70,122 call options.

Analysts Set New Price Targets

CVX has been the topic of a number of research analyst reports. Freedom Capital cut shares of Chevron from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research report on Wednesday, January 21st. Jefferies Financial Group raised their price target on Chevron from $174.00 to $189.00 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Melius Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a research report on Tuesday, February 17th. Finally, Sanford C. Bernstein lifted their price target on shares of Chevron from $170.00 to $172.00 and gave the company a “market perform” rating in a report on Monday, January 5th. Thirteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Chevron currently has an average rating of “Hold” and an average target price of $182.05.

Insiders Place Their Bets

In related news, insider R. Hewitt Pate sold 58,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $188.65, for a total value of $10,941,700.00. Following the transaction, the insider directly owned 8,558 shares in the company, valued at $1,614,466.70. This represents a 87.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Eimear P. Bonner sold 32,100 shares of the business’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $175.01, for a total value of $5,617,821.00. Following the transaction, the chief financial officer owned 4,366 shares of the company’s stock, valued at $764,093.66. The trade was a 88.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,099,397 shares of company stock worth $196,196,468. 0.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chevron

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Castellan Group lifted its stake in Chevron by 10.7% in the second quarter. Castellan Group now owns 20,405 shares of the oil and gas company’s stock worth $2,922,000 after purchasing an additional 1,965 shares during the last quarter. United Bank increased its stake in shares of Chevron by 7.7% during the second quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock valued at $1,586,000 after buying an additional 796 shares during the period. Schnieders Capital Management LLC. raised its holdings in Chevron by 9.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock worth $7,280,000 after purchasing an additional 4,214 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Chevron in the second quarter worth about $10,435,000. Finally, Glynn Capital Management LLC purchased a new position in shares of Chevron in the 2nd quarter valued at approximately $843,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 2.9%

CVX stock traded up $5.52 during mid-day trading on Thursday, reaching $197.31. 27,125,017 shares of the company traded hands, compared to its average volume of 10,459,310. The stock has a market cap of $393.71 billion, a price-to-earnings ratio of 29.63, a P/E/G ratio of 1.93 and a beta of 0.67. The firm’s 50 day moving average price is $175.61 and its 200 day moving average price is $161.50. Chevron has a fifty-two week low of $132.04 and a fifty-two week high of $198.88. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.44 by $0.08. The firm had revenue of $45.79 billion during the quarter, compared to analyst estimates of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter last year, the business posted $2.06 EPS. As a group, equities research analysts predict that Chevron will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were given a dividend of $1.78 per share. This is a boost from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Tuesday, February 17th. Chevron’s dividend payout ratio (DPR) is currently 106.91%.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Piper Sandler raised its price target and reiterated an “overweight” stance on CVX, giving institutional investors a fresh bullish valuation reference. Benzinga
• Positive Sentiment: Macro support: oil prices and geopolitical risk in the Middle East have pushed Chevron to new highs this week, lifting sentiment for integrated producers that benefit from higher crude. MarketBeat
• Positive Sentiment: Gulf of Mexico expansion: Chevron increased its footprint in the recent lease sale/auction, signaling continued investment in U.S. deepwater growth. Yahoo Finance
• Positive Sentiment: Project development: Chevron Cyprus has advanced a Cyprus offshore gas project (Worley awarded FEED), indicating future production & gas sales potential in the Eastern Med. TipRanks
• Positive Sentiment: Heavy bullish options flow: an unusual spike in call buying shows short‑term speculative/hedging interest that can amplify upward moves.
• Neutral Sentiment: Gorgon/LNG ownership shifts: MidOcean’s move to increase a stake in Gorgon LNG reflects ongoing portfolio shifts in Australian LNG, where Chevron is a long‑standing partner — monitor implications for JV economics. Offshore‑Technology
• Neutral Sentiment: Venezuela opportunity remains in play: reports that Chevron and Shell are nearing deals to revive Venezuelan production are positive long‑term but remain uncertain and subject to regulatory/geopolitical timing. MSN/Reuters
• Negative Sentiment: Insider selling: an SEC filing shows R. Hewitt Pate sold 47,200 shares recently — while insider sales can be routine, some investors interpret them as a signal to reduce exposure near rally highs. SEC Form 4
• Negative Sentiment: Regulatory hit: Chevron agreed to a DOJ settlement (about $1M penalty and retirement of ~$3.6M in invalid renewable credits) — small financially but a reputational/legal reminder. Benzinga
• Negative Sentiment: Asset sale in Angola: Energean’s acquisition of Chevron stakes in offshore Angolan blocks reduces CVX near‑term production exposure in that region; impact depends on sale price and redeployment of proceeds. Offshore‑Technology

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.