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

Chevron Corporation (CVX) : Guinness Asset Management Ltd reduced its stake in Chevron Corporation by 3.54% during the most recent quarter end. The investment management company now holds a total of 109,100 shares of Chevron Corporation which is valued at $11,156,566 after selling 4,000 shares in Chevron Corporation , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.Chevron Corporation makes up approximately 3.05% of Guinness Asset Management Ltd’s portfolio.

Other Hedge Funds, Including , Trust Co Of Toledo Na Oh boosted its stake in CVX in the latest quarter, The investment management firm added 696 additional shares and now holds a total of 62,060 shares of Chevron Corporation which is valued at $6,346,256. Chevron Corporation makes up approx 1.80% of Trust Co Of Toledo Na Oh’s portfolio. Financial Consulate Inc added CVX to its portfolio by purchasing 2,086 company shares during the most recent quarter which is valued at $220,407. Chevron Corporation makes up approx 0.16% of Financial Consulate Inc’s portfolio.Winslow Evans Crocker reduced its stake in CVX by selling 273 shares or 1.02% in the most recent quarter. The Hedge Fund company now holds 26,584 shares of CVX which is valued at $2,808,865. Chevron Corporation makes up approx 0.81% of Winslow Evans Crocker’s portfolio.Farmers Trust Co boosted its stake in CVX in the latest quarter, The investment management firm added 17,112 additional shares and now holds a total of 36,418 shares of Chevron Corporation which is valued at $3,847,926. Chevron Corporation makes up approx 1.22% of Farmers Trust Co’s portfolio.Laurel Grove Capital reduced its stake in CVX by selling 222 shares or 2.16% in the most recent quarter. The Hedge Fund company now holds 10,057 shares of CVX which is valued at $1,062,623. Chevron Corporation makes up approx 0.62% of Laurel Grove Capital’s portfolio.

Chevron Corporation opened for trading at $100.53 and hit $102.66 on the upside on Friday, eventually ending the session at $102.48, with a gain of 0.68% or 0.69 points. The heightened volatility saw the trading volume jump to 1,01,57,617 shares. Company has a market cap of $193,144 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 Reiterated by Jefferies on May 2, 2016 to “Buy”, Firm has raised the Price Target to $ 114 from a previous price target of $110 .Company shares were Reiterated by UBS on May 2, 2016 to “Neutral”, Firm has raised the Price Target to $ 104 from a previous price target of $90 .

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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