Summit Financial Wealth Advisors Lowers stake in Chevron Corporation (CVX)

Chevron Corporation (CVX) : Summit Financial Wealth Advisors reduced its stake in Chevron Corporation by 8.67% during the most recent quarter end. The investment management company now holds a total of 28,466 shares of Chevron Corporation which is valued at $2,910,079 after selling 2,703 shares in Chevron Corporation , the firm said in a disclosure report filed with the SEC on Oct 5, 2016.Chevron Corporation makes up approximately 1.27% of Summit Financial Wealth Advisors’s portfolio.

Other Hedge Funds, Including , Franklin Street Advisors Inc Nc boosted its stake in CVX in the latest quarter, The investment management firm added 2,298 additional shares and now holds a total of 64,790 shares of Chevron Corporation which is valued at $6,623,482. Chevron Corporation makes up approx 1.22% of Franklin Street Advisors Inc Nc’s portfolio.Lynch Associatesin boosted its stake in CVX in the latest quarter, The investment management firm added 2,008 additional shares and now holds a total of 42,382 shares of Chevron Corporation which is valued at $4,332,712. Chevron Corporation makes up approx 1.92% of Lynch Associatesin’s portfolio.Bath Savings Trust Co boosted its stake in CVX in the latest quarter, The investment management firm added 40 additional shares and now holds a total of 17,358 shares of Chevron Corporation which is valued at $1,774,508. Chevron Corporation makes up approx 0.56% of Bath Savings Trust Co’s portfolio.Harbour Capital Advisors reduced its stake in CVX by selling 937 shares or 1.54% in the most recent quarter. The Hedge Fund company now holds 59,756 shares of CVX which is valued at $6,108,856. Chevron Corporation makes up approx 3.29% of Harbour Capital Advisors’s portfolio.Beacon Financial Group boosted its stake in CVX in the latest quarter, The investment management firm added 451 additional shares and now holds a total of 4,080 shares of Chevron Corporation which is valued at $417,098. Chevron Corporation makes up approx 0.09% of Beacon Financial Group’s portfolio.

Chevron Corporation closed down -1.18 points or -1.15% at $101.27 with 65,05,363 shares getting traded on Tuesday. Post opening the session at $102.71, the shares hit an intraday low of $100.76 and an intraday high of $102.92 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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