Davy Asset Management Ltd Lowers stake in Chevron Corporation (CVX)

Chevron Corporation (CVX) : Davy Asset Management Ltd reduced its stake in Chevron Corporation by 9.06% during the most recent quarter end. The investment management company now holds a total of 122,946 shares of Chevron Corporation which is valued at $12,369,597 after selling 12,253 shares in Chevron Corporation , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Chevron Corporation makes up approximately 2.49% of Davy Asset Management Ltd’s portfolio.

Other Hedge Funds, Including , Courier Capital Corp boosted its stake in CVX in the latest quarter, The investment management firm added 2,050 additional shares and now holds a total of 27,553 shares of Chevron Corporation which is valued at $2,772,107. Chevron Corporation makes up approx 0.54% of Courier Capital Corp’s portfolio. Pointe Capital Management added CVX to its portfolio by purchasing 2,036 company shares during the most recent quarter which is valued at $208,201. Chevron Corporation makes up approx 0.15% of Pointe Capital Management’s portfolio.

Chevron Corporation opened for trading at $100.99 and hit $101.68 on the upside on Monday, eventually ending the session at $101.2, with a gain of 0.69% or 0.69 points. The heightened volatility saw the trading volume jump to 54,47,467 shares. Company has a market cap of $190,916 M.

On the company’s financial health, Chevron Corporation reported $-0.78 EPS for the quarter, missing the analyst consensus estimate by $ -1.10 based on the information available during the earnings call on Jul 29, 2016. Analyst had a consensus of $0.32. The company had revenue of $29282.00 million for the quarter, compared to analysts expectations of $29649.73 million. The company’s revenue was down -27.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.30 EPS.

Investors should note that on Jul 27, 2016, Chevron Corporation announced a cash dividend of $1.0700. The company’s management has announced Aug 17, 2016 as the ex-dividend date and fixed the record date on Aug 19, 2016. The payable date has been fixed on Sep 12, 2016.

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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