On May 9, 2023 at 12:46:17 ET an unusually large $674.12K block of Call contracts in Chevron (CVX) was sold, with a strike price of $155.00 / share, expiring in 38 day(s) (on June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.07 sigmas above the mean, placing it in the 84.37th percentile of all recent large trades made in CVX options.
This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.
What is the Fund Sentiment?
There are 4544 funds or institutions reporting positions in Chevron. This is an increase of 182 owner(s) or 4.17% in the last quarter. Average portfolio weight of all funds dedicated to CVX is 0.85%, a decrease of 8.71%. Total shares owned by institutions decreased in the last three months by 0.79% to 1,511,246K shares. The put/call ratio of CVX is 0.98, indicating a bullish outlook.
Analyst Price Forecast Suggests 22.67% Upside
As of April 24, 2023, the average one-year price target for Chevron is 195.76. The forecasts range from a low of 162.61 to a high of $222.60. The average price target represents an increase of 22.67% from its latest reported closing price of 159.58.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Chevron is 212,981MM, a decrease of 8.94%. The projected annual non-GAAP EPS is 17.00.
What are Other Shareholders Doing?
Berkshire Hathaway holds 162,976K shares representing 8.60% ownership of the company. In it’s prior filing, the firm reported owning 165,359K shares, representing a decrease of 1.46%. The firm increased its portfolio allocation in CVX by 21.93% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 52,901K shares representing 2.79% ownership of the company. In it’s prior filing, the firm reported owning 52,560K shares, representing an increase of 0.64%. The firm increased its portfolio allocation in CVX by 16.12% over the last quarter.
XLE – The Energy Select Sector SPDR Fund holds 45,586K shares representing 2.41% ownership of the company. In it’s prior filing, the firm reported owning 46,238K shares, representing a decrease of 1.43%. The firm increased its portfolio allocation in CVX by 1.38% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 41,124K shares representing 2.17% ownership of the company. In it’s prior filing, the firm reported owning 40,827K shares, representing an increase of 0.72%. The firm increased its portfolio allocation in CVX by 15.93% over the last quarter.
Bank Of America holds 35,792K shares representing 1.89% ownership of the company. In it’s prior filing, the firm reported owning 37,698K shares, representing a decrease of 5.32%. The firm increased its portfolio allocation in CVX by 13.04% over the last quarter.
Chevron Declares $1.51 Dividend
On April 28, 2023 the company declared a regular quarterly dividend of $1.51 per share ($6.04 annualized). Shareholders of record as of May 19, 2023 will receive the payment on June 12, 2023. Previously, the company paid $1.51 per share.
At the current share price of $159.58 / share, the stock’s dividend yield is 3.78%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.48%, the lowest has been 3.04%, and the highest has been 9.52%. The standard deviation of yields is 1.06 (n=237).
The current dividend yield is 0.65 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.32. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.17%, demonstrating that it has increased its dividend over time.
Chevron Background Information
(This description is provided by the company.)
Chevron Corporation is one of the world’s leading integrated energy companies. Through its subsidiaries that conduct business worldwide, the company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemicals and additives; generates power; and develops and deploys technologies that enhance business value in every aspect of the company’s operations. Chevron is based in San Ramon, California.
See all Chevron regulatory filings.
This article originally appeared on Fintel
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