Hartford Investment Management Co Lowers stake in Chevron Corporation (CVX)

Chevron Corporation (CVX) : Hartford Investment Management Co reduced its stake in Chevron Corporation by 0.25% during the most recent quarter end. The investment management company now holds a total of 465,154 shares of Chevron Corporation which is valued at $49,148,172 after selling 1,176 shares in Chevron Corporation , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.Chevron Corporation makes up approximately 1.00% of Hartford Investment Management Co’s portfolio.

Other Hedge Funds, Including , Capital City Trust Cofl boosted its stake in CVX in the latest quarter, The investment management firm added 3,183 additional shares and now holds a total of 29,148 shares of Chevron Corporation which is valued at $3,079,778. Chevron Corporation makes up approx 1.21% of Capital City Trust Cofl’s portfolio.Gradient Investments boosted its stake in CVX in the latest quarter, The investment management firm added 2,250 additional shares and now holds a total of 51,771 shares of Chevron Corporation which is valued at $5,492,385. Chevron Corporation makes up approx 0.58% of Gradient Investments’s portfolio.Foundry Partners reduced its stake in CVX by selling 29,305 shares or 10.54% in the most recent quarter. The Hedge Fund company now holds 248,840 shares of CVX which is valued at $26,538,786. Chevron Corporation makes up approx 2.48% of Foundry Partners’s portfolio.

Chevron Corporation closed down -0.45 points or -0.42% at $105.59 with 68,02,012 shares getting traded on Wednesday. Post opening the session at $105.93, the shares hit an intraday low of $105 and an intraday high of $106.13 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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 .

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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