Hartford Financial Management Lowers stake in Chevron Corporation (CVX)

Chevron Corporation (CVX) : Hartford Financial Management reduced its stake in Chevron Corporation by 1.92% during the most recent quarter end. The investment management company now holds a total of 29,988 shares of Chevron Corporation which is valued at $3,059,076 after selling 586 shares in Chevron Corporation , the firm said in a disclosure report filed with the SEC on Apr 20, 2016.Chevron Corporation makes up approximately 1.84% of Hartford Financial Management’s portfolio.

Chevron Corporation opened for trading at $101.74 and hit $102.5 on the upside on Friday, eventually ending the session at $102.01, with a gain of 0.60% or 0.61 points. The heightened volatility saw the trading volume jump to 57,53,998 shares. Company has a market cap of $192,101 M.

Other Hedge Funds, Including , Cornerstone Advisors boosted its stake in CVX in the latest quarter, The investment management firm added 2,787 additional shares and now holds a total of 4,710 shares of Chevron Corporation which is valued at $480,467. Chevron Corporation makes up approx 0.50% of Cornerstone Advisors’s portfolio.Dividend Asset Capital boosted its stake in CVX in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 12,325 shares of Chevron Corporation which is valued at $1,257,273. Chevron Corporation makes up approx 0.03% of Dividend Asset Capital’s portfolio.Osborn Rohs Williams Donohoe Ltd boosted its stake in CVX in the latest quarter, The investment management firm added 4,622 additional shares and now holds a total of 85,340 shares of Chevron Corporation which is valued at $8,297,608. Chevron Corporation makes up approx 1.64% of Osborn Rohs Williams Donohoe Ltd’s portfolio.Investment Counsel boosted its stake in CVX in the latest quarter, The investment management firm added 1,625 additional shares and now holds a total of 14,165 shares of Chevron Corporation which is valued at $1,377,263. Chevron Corporation makes up approx 1.28% of Investment Counsel’s portfolio.Foundation Resource Management Inc boosted its stake in CVX in the latest quarter, The investment management firm added 252 additional shares and now holds a total of 187,684 shares of Chevron Corporation which is valued at $17,875,024. Chevron Corporation makes up approx 3.60% of Foundation Resource Management Inc’s portfolio.

On the company’s financial health, Chevron Corporation reported $-0.31 EPS for the quarter, missing the analyst consensus estimate by $ -0.82 based on the information available during the earnings call on Jan 29, 2016. Analyst had a consensus of $0.51. The company had revenue of $29247.00 million for the quarter, compared to analysts expectations of $31134.23 million. The company’s revenue was down -36.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.85 EPS.

Many Wall Street Analysts have commented on Chevron Corporation. 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 was Downgraded by Raymond James to ” Mkt Perform” on Mar 22, 2016. Chevron Corporation was Initiated by Nomura to “Neutral” on Mar 18, 2016.

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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