Chevron (CVX) Offering Possible 35.5% Return Over the Next 21 Calendar Days

Chevron's most recent trend suggests a bearish bias. One trading opportunity on Chevron is a Bear Call Spread using a strike $112.00 short call and a strike $117.00 long call offers a potential 35.5% return on risk over the next 21 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $112.00 by expiration. The full premium credit of $1.31 would be kept by the premium seller. The risk of $3.69 would be incurred if the stock rose above the $117.00 long call strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for Chevron is bearish and the probability of a decline in share price is higher if the stock starts trending.

The 20-day moving average is moving down which suggests that the medium-term momentum for Chevron is bearish.

The RSI indicator is below 20 which suggests that the stock is in oversold territory.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here


LATEST NEWS for Chevron

Oil Resumes Drop After U.S. Stockpiles Build Adds to Virus Angst
Thu, 30 Jan 2020 07:40:37 +0000
(Bloomberg) — Oil resumed declines as the biggest jump in U.S. crude stockpiles in almost three months added to concern over weak demand in a market already grappling with China’s spreading coronavirus.U.S. inventories rose by 3.5 million barrels last week, raising fears of a supply glut. Airlines across the world suspended flights to China as the death toll from the virus reached 170, with the World Health Organization meeting to consider issuing a global alarm. Crude spiked briefly after an attempted attack on Saudi Aramco’s Jazan plant by Yemen’s Houthi rebels.Oil is heading for the biggest monthly drop since May as the virus crimps global travel and economic activity within China, the world’s biggest energy consumer. The impact of the potential demand hit is being heightened as the market is awash with crude, particularly from non-OPEC countries. The producer group is considering pushing forward a meeting initially scheduled for March, according to Algeria’s energy minister, amid the price slump.“What we’re seeing this year and are going to continue seeing is that the geopolitical premium doesn’t stick,” said Vandana Hari, founder of energy consultant Vanda Insights in Singapore. The underlying reason for that “is the view that the oil market is well supplied,” she said.West Texas Intermediate crude for March delivery fell 1.5% to $52.55 a barrel on the New York Mercantile Exchange as of 7:34 a.m. in London after closing down 0.3% on Wednesday. It’s dropped around 14% so far in January.Brent for March settlement declined 1.5% to $58.89 a barrel on the London-based ICE Futures Europe exchange after rising 0.5% in the previous session. The global benchmark crude traded at a $6.34 premium to WTI.The increase in U.S. crude stockpiles was the largest since the week ending Nov. 1, according to Energy Information Administration data. Analysts surveyed by Bloomberg had forecast inventories to grow by 1.29 million barrels.See also: China Oil Demand Seen Taking a Big Virus Hit in Latest ForecastsAnalysts are cutting their forecasts for Chinese crude consumption due to the virus, with jet fuel demand most affected. Sanford C. Bernstein & Co. reduced its estimate for oil demand growth in the nation this year to 100,000 barrels a day from 350,000. Morgan Stanley said consumption growth could take a 75,000 barrel-a-day hit if the outbreak continues to escalate for three to four months.\–With assistance from James Thornhill.To contact the reporter on this story: Ann Koh in Singapore at akoh15@bloomberg.netTo contact the editors responsible for this story: Serene Cheong at scheong20@bloomberg.net, Andrew Janes, Ben SharplesFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

StockBeat: Shell Hits the Buyback Brakes After Big Shale Writedown
Thu, 30 Jan 2020 05:10:00 +0000
By Geoffrey Smith

Chevron raises dividend by 8%
Wed, 29 Jan 2020 22:05:00 +0000
Chevron Corp. said late Wednesday its board of directors has authorized a dividend increase of more than 8% to $1.29 a share. The dividend is payable March 10 to shareholders of record as of Feb. 18. Shares of Chevron were flat in the extended session after ending the regular trading day down 0.7%. Chevron and Exxon Mobil Corp. are slated to report fourth-quarter earnings before the bell on Friday amid concerns for reduced demand for oil.

Chevron Increases Quarterly Dividend More Than 8 Percent
Wed, 29 Jan 2020 21:30:00 +0000
The Board of Directors of Chevron Corporation (NYSE: CVX) today declared a quarterly dividend of one dollar and twenty-nine cents ($1.29) per share, an increase of ten cents ($0.10) per share or 8.4 percent. The dividend is payable March 10, 2020, to all holders of common stock as shown on the transfer records of the Corporation at the close of business February 18, 2020.

Hess (HES) Q4 Earnings Miss Estimates on Oil Price Slump
Wed, 29 Jan 2020 17:07:05 +0000
Hess' (HES) fourth-quarter earnings are affected by lower commodity price realization and increased operating expenses, partially offset by higher hydrocarbon production.

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