Credit Suisse Ag Lowers stake in Chevron Corporation (CVX)

Chevron Corporation (CVX) : Credit Suisse Ag reduced its stake in Chevron Corporation by 4.23% during the most recent quarter end. The investment management company now holds a total of 6,518,308 shares of Chevron Corporation which is valued at $665,910,345 after selling 287,999 shares in Chevron Corporation , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Chevron Corporation makes up approximately 0.82% of Credit Suisse Ag’s portfolio.

Other Hedge Funds, Including , Darrell King reduced its stake in CVX by selling 499 shares or 19.97% in the most recent quarter. The Hedge Fund company now holds 2,000 shares of CVX which is valued at $204,320. Chevron Corporation makes up approx 0.04% of Darrell King’s portfolio.Wetherby Asset Management Inc boosted its stake in CVX in the latest quarter, The investment management firm added 1,171 additional shares and now holds a total of 31,946 shares of Chevron Corporation which is valued at $3,263,603. Chevron Corporation makes up approx 0.70% of Wetherby Asset Management Inc’s portfolio.Vicus Capital boosted its stake in CVX in the latest quarter, The investment management firm added 376 additional shares and now holds a total of 6,595 shares of Chevron Corporation which is valued at $663,523. Chevron Corporation makes up approx 0.16% of Vicus Capital’s portfolio.Capital One National Association boosted its stake in CVX in the latest quarter, The investment management firm added 163 additional shares and now holds a total of 127,743 shares of Chevron Corporation which is valued at $13,488,383. Chevron Corporation makes up approx 1.08% of Capital One National Association’s portfolio.

Chevron Corporation closed down -0.26 points or -0.26% at $101.68 with 49,29,677 shares getting traded on Tuesday. Post opening the session at $102.03, the shares hit an intraday low of $101.5 and an intraday high of $102.17 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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