Sippican Capital Advisors Lowers stake in Chevron Corporation (CVX)

Chevron Corporation (CVX) : Sippican Capital Advisors reduced its stake in Chevron Corporation by 3.44% during the most recent quarter end. The investment management company now holds a total of 20,281 shares of Chevron Corporation which is valued at $2,073,935 after selling 723 shares in Chevron Corporation , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Chevron Corporation makes up approximately 2.37% of Sippican Capital Advisors’s portfolio.

Other Hedge Funds, Including , British Airways Pensions Investment Management Ltd boosted its stake in CVX in the latest quarter, The investment management firm added 144,670 additional shares and now holds a total of 627,990 shares of Chevron Corporation which is valued at $64,218,257. Chevron Corporation makes up approx 1.89% of British Airways Pensions Investment Management Ltd’s portfolio.Shinko Asset Management Ltd. reduced its stake in CVX by selling 105 shares or 2.13% in the most recent quarter. The Hedge Fund company now holds 4,819 shares of CVX which is valued at $509,176.Eastern Bank reduced its stake in CVX by selling 1,339 shares or 0.6% in the most recent quarter. The Hedge Fund company now holds 222,134 shares of CVX which is valued at $23,566,196. Chevron Corporation makes up approx 1.85% of Eastern Bank’s portfolio.Central Bank Trust Co reduced its stake in CVX by selling 85 shares or 2.61% in the most recent quarter. The Hedge Fund company now holds 3,170 shares of CVX which is valued at $338,081. Chevron Corporation makes up approx 0.10% of Central Bank Trust Co’s portfolio.Next Financial Group Inc boosted its stake in CVX in the latest quarter, The investment management firm added 2,181 additional shares and now holds a total of 26,333 shares of Chevron Corporation which is valued at $2,758,908. Chevron Corporation makes up approx 0.86% of Next Financial Group Inc’s portfolio.

Chevron Corporation opened for trading at $100.53 and hit $102.66 on the upside on Friday, eventually ending the session at $102.48, with a gain of 0.68% or 0.69 points. The heightened volatility saw the trading volume jump to 1,01,57,617 shares. Company has a market cap of $193,144 M.

On the company’s financial health, Chevron Corporation reported $-0.78 EPS for the quarter, missing the analyst consensus estimate by $ -1.10 based on the information available during the earnings call on Jul 29, 2016. Analyst had a consensus of $0.32. The company had revenue of $29282.00 million for the quarter, compared to analysts expectations of $29649.73 million. The company’s revenue was down -27.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.30 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.

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