Karpas Strategies buys $2,015,096 stake in Chevron Corporation (CVX)

Chevron Corporation (CVX) : Karpas Strategies scooped up 15 additional shares in Chevron Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 2, 2016. The investment management firm now holds a total of 19,783 shares of Chevron Corporation which is valued at $2,015,096.Chevron Corporation makes up approximately 1.03% of Karpas Strategies’s portfolio.

Chevron Corporation opened for trading at $100.84 and hit $102.7 on the upside on Friday, eventually ending the session at $101.86, with a gain of 0.43% or 0.44 points. The heightened volatility saw the trading volume jump to 59,66,814 shares. Company has a market cap of $191,976 M.

Other Hedge Funds, Including , Financial Partners Capital Management boosted its stake in CVX in the latest quarter, The investment management firm added 2,290 additional shares and now holds a total of 95,255 shares of Chevron Corporation which is valued at $9,702,674. Chevron Corporation makes up approx 2.52% of Financial Partners Capital Management’s portfolio. Mizuho Securities Usa added CVX to its portfolio by purchasing 46,700 company shares during the most recent quarter which is valued at $4,763,867. Chevron Corporation makes up approx 1.19% of Mizuho Securities Usa’s portfolio.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.Mcqueen Ball Associates reduced its stake in CVX by selling 1,199 shares or 16.6% in the most recent quarter. The Hedge Fund company now holds 6,024 shares of CVX which is valued at $614,508. Chevron Corporation makes up approx 0.44% of Mcqueen Ball Associates’s portfolio.

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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