Aviance Capital Management buys $36 Million stake in Chevron Corporation (CVX)

Chevron Corporation (CVX) : Aviance Capital Management scooped up 17,488 additional shares in Chevron Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 357,719 shares of Chevron Corporation which is valued at $36 Million.Chevron Corporation makes up approximately 1.18% of Aviance Capital Management’s portfolio.

Other Hedge Funds, Including , Cheviot Value Management boosted its stake in CVX in the latest quarter, The investment management firm added 178 additional shares and now holds a total of 32,952 shares of Chevron Corporation which is valued at $3.3 Million. Chevron Corporation makes up approx 2.02% of Cheviot Value Management’s portfolio.Canada Pension Plan Investment Board boosted its stake in CVX in the latest quarter, The investment management firm added 320,400 additional shares and now holds a total of 600,443 shares of Chevron Corporation which is valued at $60.5 Million. Chevron Corporation makes up approx 0.25% of Canada Pension Plan Investment Board’s portfolio. Zweig-dimenna Associates sold out all of its stake in CVX during the most recent quarter. The investment firm sold 9,900 shares of CVX which is valued $997,326.Stadion Money Management boosted its stake in CVX in the latest quarter, The investment management firm added 2,012 additional shares and now holds a total of 28,298 shares of Chevron Corporation which is valued at $2.9 Million. Chevron Corporation makes up approx 0.09% of Stadion Money Management’s portfolio.Ashburton (jersey) Ltd reduced its stake in CVX by selling 3,950 shares or 16.06% in the most recent quarter. The Hedge Fund company now holds 20,638 shares of CVX which is valued at $2.1 Million. Chevron Corporation makes up approx 0.74% of Ashburton (jersey) Ltd’s portfolio.

Chevron Corporation opened for trading at $100.82 and hit $101.98 on the upside on Wednesday, eventually ending the session at $101.77, with a gain of 1.58% or 1.58 points. The heightened volatility saw the trading volume jump to 54,32,612 shares. Company has a market cap of $191,806 M.

On the company’s financial health, Chevron Corporation reported $-0.39 EPS for the quarter, missing the analyst consensus estimate by $ -0.23 based on the information available during the earnings call on Apr 29, 2016. Analyst had a consensus of $-0.16. The company had revenue of $23533.00 million for the quarter, compared to analysts expectations of $22735.35 million. The company’s revenue was down -31.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.37 EPS.

Many Wall Street Analysts have commented on Chevron Corporation. Company shares were Reiterated by Jefferies on May 2, 2016 to “Buy”, Firm has raised the Price Target to $ 114 from a previous price target of $110 .Company shares were Reiterated by UBS on May 2, 2016 to “Neutral”, Firm has raised the Price Target to $ 104 from a previous price target of $90 .Company shares were Reiterated by Barclays on Apr 8, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 97 from a previous price target of $89 .

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates. The Company operates through two segments: Upstream and Downstream. Upstream operations consist primarily of exploring for developing and producing crude oil and natural gas; processing liquefaction transportation and regasification associated with liquefied natural gas (LNG); transporting crude oil through international oil export pipelines; transporting storing and marketing natural gas and operating a gas-to-liquids plant. The Company’s Downstream operations primarily consist of refining crude oil into petroleum products; marketing crude oil and refined products; transporting crude oil and refined products by pipeline marine vessel motor equipment and rail car and manufacturing and marketing commodity petrochemicals plastics for industrial uses and fuel and lubricant additives.

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