Ipswich Investment Management Lowers stake in Chevron Corporation (CVX)

Chevron Corporation (CVX) : Ipswich Investment Management reduced its stake in Chevron Corporation by 25.92% during the most recent quarter end. The investment management company now holds a total of 41,585 shares of Chevron Corporation which is valued at $4.2 Million after selling 14,549 shares in Chevron Corporation , the firm said in a disclosure report filed with the SEC on May 11, 2016.Chevron Corporation makes up approximately 2.02% of Ipswich Investment Management’s portfolio.

Other Hedge Funds, Including , Leisure Capital Management boosted its stake in CVX in the latest quarter, The investment management firm added 165 additional shares and now holds a total of 20,680 shares of Chevron Corporation which is valued at $2.1 Million. Chevron Corporation makes up approx 2.10% of Leisure Capital Management’s portfolio.Finemark National Bank Trust reduced its stake in CVX by selling 1,466 shares or 2.73% in the most recent quarter. The Hedge Fund company now holds 52,148 shares of CVX which is valued at $5.3 Million. Chevron Corporation makes up approx 0.62% of Finemark National Bank Trust’s portfolio.Palisades Hudson Asset Management boosted its stake in CVX in the latest quarter, The investment management firm added 190 additional shares and now holds a total of 3,959 shares of Chevron Corporation which is valued at $403,264. Chevron Corporation makes up approx 0.32% of Palisades Hudson Asset Management’s portfolio. Richard Bernstein Advisors added CVX to its portfolio by purchasing 86,445 company shares during the most recent quarter which is valued at $8.8 Million. Chevron Corporation makes up approx 0.87% of Richard Bernstein Advisors’s portfolio.Sonata Capital Group Inc reduced its stake in CVX by selling 750 shares or 7.2% in the most recent quarter. The Hedge Fund company now holds 9,670 shares of CVX which is valued at $988,081. Chevron Corporation makes up approx 0.85% of Sonata Capital Group Inc’s portfolio.

Chevron Corporation opened for trading at $101.87 and hit $102.599 on the upside on Monday, eventually ending the session at $102.29, with a gain of 1.54% or 1.55 points. The heightened volatility saw the trading volume jump to 67,79,399 shares. Company has a market cap of $192,786 M.

On the company’s financial health, Chevron Corporation reported $-0.39 EPS for the quarter, missing the analyst consensus estimate by $ -0.23 based on the information available during the earnings call on Apr 29, 2016. Analyst had a consensus of $-0.16. The company had revenue of $23533.00 million for the quarter, compared to analysts expectations of $22735.35 million. The company’s revenue was down -31.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.37 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 .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 (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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