Renaissance Investment Group Lowers stake in Chevron Corporation (CVX)

Chevron Corporation (CVX) : Renaissance Investment Group reduced its stake in Chevron Corporation by 23.53% during the most recent quarter end. The investment management company now holds a total of 4,732 shares of Chevron Corporation which is valued at $446,038 after selling 1,456 shares in Chevron Corporation according to a report filed by the company on Apr 1, 2016 with the SEC.Chevron Corporation makes up approximately 0.22% of Renaissance Investment Group’s portfolio.

Other Hedge Funds, Including , Beacon Financial Group boosted its stake in CVX in the latest quarter, The investment management firm added 33,000 additional shares and now holds a total of 104,912 shares of Chevron Corporation which is valued at $9.9 Million. Chevron Corporation makes up approx 2.14% of Beacon Financial Group’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 closed down -1.09 points or -1.13% at $95.24 with 66,44,156 shares getting traded on Monday. Post opening the session at $96.87, the shares hit an intraday low of $95.15 and an intraday high of $97.3 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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.