South Dakota Investment Council Lowers stake in Chevron Corporation (CVX)

Chevron Corporation (CVX) : South Dakota Investment Council reduced its stake in Chevron Corporation by 7.83% during the most recent quarter end. The investment management company now holds a total of 835,229 shares of Chevron Corporation which is valued at $85,326,995 after selling 70,970 shares in Chevron Corporation , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Chevron Corporation makes up approximately 1.79% of South Dakota Investment Council’s portfolio.

Other Hedge Funds, Including , Fdo Partners sold out all of its stake in CVX during the most recent quarter. The investment firm sold 2,488 shares of CVX which is valued $254,174. Cliftonlarsonallen Wealth Advisors added CVX to its portfolio by purchasing 12,182 company shares during the most recent quarter which is valued at $1,232,818. Chevron Corporation makes up approx 0.17% of Cliftonlarsonallen Wealth Advisors’s portfolio.New Mexico Educational Retirement Board boosted its stake in CVX in the latest quarter, The investment management firm added 11,300 additional shares and now holds a total of 219,656 shares of Chevron Corporation which is valued at $22,099,590. Chevron Corporation makes up approx 0.97% of New Mexico Educational Retirement Board’s portfolio.Catawba Capital Management Va boosted its stake in CVX in the latest quarter, The investment management firm added 345 additional shares and now holds a total of 43,426 shares of Chevron Corporation which is valued at $4,585,351. Chevron Corporation makes up approx 1.08% of Catawba Capital Management Va’s portfolio.Regentatlantic Capital reduced its stake in CVX by selling 2,639 shares or 2.26% in the most recent quarter. The Hedge Fund company now holds 114,040 shares of CVX which is valued at $12,041,484. Chevron Corporation makes up approx 1.13% of Regentatlantic Capital’s portfolio.

Chevron Corporation closed down -1.23 points or -1.19% at $102.32 with 50,57,240 shares getting traded on Friday. Post opening the session at $103.07, the shares hit an intraday low of $102.12 and an intraday high of $103.13 and the price fluctuated in this range throughout the day.Shares ended Friday 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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