Sumitomo Life Insurance Co Lowers stake in Chevron Corporation (CVX)

Chevron Corporation (CVX) : Sumitomo Life Insurance Co reduced its stake in Chevron Corporation by 14.7% during the most recent quarter end. The investment management company now holds a total of 77,249 shares of Chevron Corporation which is valued at $7,893,303 after selling 13,310 shares in Chevron Corporation , the firm said in a disclosure report filed with the SEC on Apr 26, 2016.Chevron Corporation makes up approximately 1.02% of Sumitomo Life Insurance Co’s portfolio.

Chevron Corporation opened for trading at $101.83 and hit $103.85 on the upside on Monday, eventually ending the session at $103.31, with a gain of 1.11% or 1.13 points. The heightened volatility saw the trading volume jump to 68,44,501 shares. Company has a market cap of $194,549 M.

Other Hedge Funds, Including , Physicians Financial Services boosted its stake in CVX in the latest quarter, The investment management firm added 287 additional shares and now holds a total of 24,644 shares of Chevron Corporation which is valued at $2,518,124. Chevron Corporation makes up approx 2.29% of Physicians Financial Services’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.Capital Advisors Ltd. reduced its stake in CVX by selling 9 shares or 9.78% in the most recent quarter. The Hedge Fund company now holds 83 shares of CVX which is valued at $8,070.Gierl Augustine Investment Management Inc boosted its stake in CVX in the latest quarter, The investment management firm added 1,099 additional shares and now holds a total of 1,969 shares of Chevron Corporation which is valued at $191,446. Chevron Corporation makes up approx 0.18% of Gierl Augustine Investment Management Inc’s portfolio.Quotient Investors reduced its stake in CVX by selling 10,033 shares or 76.98% in the most recent quarter. The Hedge Fund company now holds 3,000 shares of CVX which is valued at $291,690. Chevron Corporation makes up approx 0.11% of Quotient Investors’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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