Macnealy Hoover Investment Management Inc Lowers stake in Chevron Corporation (CVX)

Chevron Corporation (CVX) : Macnealy Hoover Investment Management Inc reduced its stake in Chevron Corporation by 2.48% during the most recent quarter end. The investment management company now holds a total of 37,350 shares of Chevron Corporation which is valued at $3,883,653 after selling 948 shares in Chevron Corporation , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.Chevron Corporation makes up approximately 0.73% of Macnealy Hoover Investment Management Inc’s portfolio.

Other Hedge Funds, Including , Reilly Herbert Faulkner Iii boosted its stake in CVX in the latest quarter, The investment management firm added 729 additional shares and now holds a total of 24,625 shares of Chevron Corporation which is valued at $2,560,508. Chevron Corporation makes up approx 1.92% of Reilly Herbert Faulkner Iii’s portfolio.Mcqueen Ball Associates reduced its stake in CVX by selling 349 shares or 5.99% in the most recent quarter. The Hedge Fund company now holds 5,475 shares of CVX which is valued at $559,709. Chevron Corporation makes up approx 0.38% of Mcqueen Ball Associates’s portfolio.Hefty Wealth Partners boosted its stake in CVX in the latest quarter, The investment management firm added 311 additional shares and now holds a total of 340 shares of Chevron Corporation which is valued at $34,758. Chevron Corporation makes up approx 0.03% of Hefty Wealth Partners’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in CVX in the latest quarter, The investment management firm added 58,481 additional shares and now holds a total of 1,020,674 shares of Chevron Corporation which is valued at $104,343,503. Chevron Corporation makes up approx 0.43% of Bnp Paribas Arbitrage Sa’s portfolio.Washington Trust Bank boosted its stake in CVX in the latest quarter, The investment management firm added 307 additional shares and now holds a total of 27,162 shares of Chevron Corporation which is valued at $2,776,771. Chevron Corporation makes up approx 0.67% of Washington Trust Bank’s portfolio.

Chevron Corporation closed down -0.94 points or -0.90% at $103.04 with 53,37,338 shares getting traded on Tuesday. Post opening the session at $103.78, the shares hit an intraday low of $102.68 and an intraday high of $104.1 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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.

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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