Mechanics Bank Trust Department Lowers stake in CHEVRON CORP COM (CVX)

CHEVRON CORP COM (CVX) : Mechanics Bank Trust Department reduced its stake in CHEVRON CORP COM by 1.13% during the most recent quarter end. The investment management company now holds a total of 115,737 shares of CHEVRON CORP COM which is valued at $11,806,331 after selling 1,320 shares in CHEVRON CORP COM , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.CHEVRON CORP COM makes up approximately 4.53% of Mechanics Bank Trust Department’s portfolio.

CHEVRON CORP COM opened for trading at $102.9 and hit $103.94 on the upside on Wednesday, eventually ending the session at $103.85, with a gain of 1.53% or 1.56 points. The heightened volatility saw the trading volume jump to 83,83,591 shares. Company has a market cap of $195,566 M.

Other Hedge Funds, Including , Centurylink Investment Management Co reduced its stake in CVX by selling 10,468 shares or 31.06% in the most recent quarter. The Hedge Fund company now holds 23,230 shares of CVX which is valued at $2,369,692. CHEVRON CORP COM makes up approx 0.84% of Centurylink Investment Management Co’s portfolio.Monroe Bank Trustmi reduced its stake in CVX by selling 654 shares or 4.04% in the most recent quarter. The Hedge Fund company now holds 15,552 shares of CVX which is valued at $1,512,121. CHEVRON CORP COM makes up approx 0.52% of Monroe Bank Trustmi’s portfolio.

On the company’s financial health, CHEVRON CORP COM 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 CORP COM. 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 CORP COM was Downgraded by Raymond James to ” Mkt Perform” on Mar 22, 2016. CHEVRON CORP COM 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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