Nichols Asset Management Lowers stake in Chevron Corporation (CVX)

Chevron Corporation (CVX) : Nichols Asset Management reduced its stake in Chevron Corporation by 9.14% during the most recent quarter end. The investment management company now holds a total of 2,782 shares of Chevron Corporation which is valued at $283,792 after selling 280 shares in Chevron Corporation , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Chevron Corporation makes up approximately 0.06% of Nichols Asset Management’s portfolio.

Chevron Corporation 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 , Community Bank N.a. reduced its stake in CVX by selling 359 shares or 1.03% in the most recent quarter. The Hedge Fund company now holds 34,368 shares of CVX which is valued at $3,505,880. Chevron Corporation makes up approx 0.84% of Community Bank N.a.’s portfolio.Wagner Bowman Management Corp boosted its stake in CVX in the latest quarter, The investment management firm added 106 additional shares and now holds a total of 16,713 shares of Chevron Corporation which is valued at $1,625,005. Chevron Corporation makes up approx 0.64% of Wagner Bowman Management Corp’s portfolio. Fenimore Asset Management Inc sold out all of its stake in CVX during the most recent quarter. The investment firm sold 2,630 shares of CVX which is valued $250,481.

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.

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.