State Treasurer State Of Michigan Lowers stake in Chevron Corporation (CVX)

Chevron Corporation (CVX) : State Treasurer State Of Michigan reduced its stake in Chevron Corporation by 2.74% during the most recent quarter end. The investment management company now holds a total of 666,204 shares of Chevron Corporation which is valued at $67,026,784 after selling 18,800 shares in Chevron Corporation , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Chevron Corporation makes up approximately 0.51% of State Treasurer State Of Michigan’s portfolio.

Other Hedge Funds, Including , Obermeyer Wood Investment Counsel Lllp reduced its stake in CVX by selling 1,183 shares or 10.8% in the most recent quarter. The Hedge Fund company now holds 9,772 shares of CVX which is valued at $983,161. Chevron Corporation makes up approx 0.09% of Obermeyer Wood Investment Counsel Lllp’s portfolio.Charter Trust Co reduced its stake in CVX by selling 721 shares or 0.55% in the most recent quarter. The Hedge Fund company now holds 129,867 shares of CVX which is valued at $13,712,657. Chevron Corporation makes up approx 1.55% of Charter Trust Co’s portfolio.Cypress Asset Management Inctx reduced its stake in CVX by selling 8,925 shares or 10.63% in the most recent quarter. The Hedge Fund company now holds 75,033 shares of CVX which is valued at $7,922,734. Chevron Corporation makes up approx 1.54% of Cypress Asset Management Inctx’s portfolio.Murphy Capital Management Inc boosted its stake in CVX in the latest quarter, The investment management firm added 1,528 additional shares and now holds a total of 51,718 shares of Chevron Corporation which is valued at $5,460,904. Chevron Corporation makes up approx 0.82% of Murphy Capital Management Inc’s portfolio.Windsor Financial Group reduced its stake in CVX by selling 100 shares or 1.43% in the most recent quarter. The Hedge Fund company now holds 6,913 shares of CVX which is valued at $733,400. Chevron Corporation makes up approx 0.33% of Windsor Financial Group’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.

Many Wall Street Analysts have commented on Chevron Corporation. Company shares were Upgraded by Piper Jaffray on Aug 9, 2016 to ” Overweight”, Firm has raised the Price Target to $ 117 from a previous price target of $110 .

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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