Highland Capital Management Lowers stake in Chevron Corporation (CVX)

Chevron Corporation (CVX) : Highland Capital Management reduced its stake in Chevron Corporation by 1.7% during the most recent quarter end. The investment management company now holds a total of 135,592 shares of Chevron Corporation which is valued at $14,317,159 after selling 2,348 shares in Chevron Corporation , the firm said in a disclosure report filed with the SEC on Jul 18, 2016.Chevron Corporation makes up approximately 1.20% of Highland Capital Management’s portfolio.

Other Hedge Funds, Including , Garland Capital Management Inc reduced its stake in CVX by selling 450 shares or 1.09% in the most recent quarter. The Hedge Fund company now holds 40,946 shares of CVX which is valued at $4,323,488. Chevron Corporation makes up approx 3.33% of Garland Capital Management Inc’s portfolio.Sonora Investment Management reduced its stake in CVX by selling 423 shares or 5.38% in the most recent quarter. The Hedge Fund company now holds 7,440 shares of CVX which is valued at $789,310. Chevron Corporation makes up approx 0.44% of Sonora Investment Management’s portfolio.Capital Analysts reduced its stake in CVX by selling 740 shares or 29.67% in the most recent quarter. The Hedge Fund company now holds 1,754 shares of CVX which is valued at $186,082. Chevron Corporation makes up approx 0.04% of Capital Analysts’s portfolio.Hall Laurie J Trustee reduced its stake in CVX by selling 440 shares or 3.64% in the most recent quarter. The Hedge Fund company now holds 11,644 shares of CVX which is valued at $1,241,833. Chevron Corporation makes up approx 0.80% of Hall Laurie J Trustee’s portfolio.Northstar Group reduced its stake in CVX by selling 477 shares or 10.37% in the most recent quarter. The Hedge Fund company now holds 4,121 shares of CVX which is valued at $439,505. Chevron Corporation makes up approx 0.32% of Northstar Group’s portfolio.

Chevron Corporation closed down -0.45 points or -0.42% at $105.59 with 68,02,012 shares getting traded on Wednesday. Post opening the session at $105.93, the shares hit an intraday low of $105 and an intraday high of $106.13 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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 .

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.

Leave a Reply

Chevron Corporation - Is it time to Sell?

Top Brokerage Firms are advising their investors on Chevron Corporation. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.