National Planning Corp Lowers stake in Chevron Corporation (CVX)

Chevron Corporation (CVX) : National Planning Corp reduced its stake in Chevron Corporation by 11.83% during the most recent quarter end. The investment management company now holds a total of 175,639 shares of Chevron Corporation which is valued at $17,774,667 after selling 23,572 shares in Chevron Corporation , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Chevron Corporation makes up approximately 1.36% of National Planning Corp’s portfolio.

Other Hedge Funds, Including , Tci Wealth Advisors boosted its stake in CVX in the latest quarter, The investment management firm added 1,365 additional shares and now holds a total of 44,292 shares of Chevron Corporation which is valued at $4,491,209. Chevron Corporation makes up approx 2.41% of Tci Wealth Advisors’s portfolio.Gerstein Fisher boosted its stake in CVX in the latest quarter, The investment management firm added 1,215 additional shares and now holds a total of 12,925 shares of Chevron Corporation which is valued at $1,310,595. Chevron Corporation makes up approx 0.17% of Gerstein Fisher’s portfolio.Robshaw Julian Associates Inc reduced its stake in CVX by selling 1,385 shares or 2.0% in the most recent quarter. The Hedge Fund company now holds 67,776 shares of CVX which is valued at $6,812,166. Chevron Corporation makes up approx 4.97% of Robshaw Julian Associates Inc’s portfolio.S&co Inc boosted its stake in CVX in the latest quarter, The investment management firm added 234 additional shares and now holds a total of 56,935 shares of Chevron Corporation which is valued at $6,015,752. Chevron Corporation makes up approx 0.90% of S&co Inc’s portfolio.Dearborn Partners boosted its stake in CVX in the latest quarter, The investment management firm added 5,126 additional shares and now holds a total of 250,850 shares of Chevron Corporation which is valued at $26,487,252. Chevron Corporation makes up approx 2.25% of Dearborn Partners’s portfolio.

Chevron Corporation opened for trading at $101.5 and hit $102.3 on the upside on Wednesday, eventually ending the session at $102.22, with a gain of 0.66% or 0.67 points. The heightened volatility saw the trading volume jump to 53,11,568 shares. Company has a market cap of $192,840 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.

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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