Are you in Chevron Corporation (NYSE:CVX) for the long haul? If not, check out this data. It may change your mind.
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Just as necessary, optimistic insider trading activity is a second way to analyze the investments you’re interested in. There are many incentives for a bullish insider to sell shares of his or her company, but only one, very clear reason why they would initiate a purchase. Many empirical studies have demonstrated the market-beating potential of this method if investors know what to do (learn more here).
Furthermore, we’re going to study the newest info for Chevron Corporation (NYSE:CVX).
What does the smart money think about Chevron Corporation (NYSE:CVX)?
At Q2’s end, a total of 47 of the hedge funds we track were long in this stock, a change of 9% from the previous quarter. With the smart money’s capital changing hands, there exists a select group of noteworthy hedge fund managers who were increasing their holdings meaningfully.
According to our 13F database, Fisher Asset Management, managed by Ken Fisher, holds the most valuable position in Chevron Corporation (NYSE:CVX). Fisher Asset Management has a $423.6 million position in the stock, comprising 1.1% of its 13F portfolio. Coming in second is Phill Gross and Robert Atchinson of Adage Capital Management, with a $275 million position; the fund has 0.8% of its 13F portfolio invested in the stock. Other hedgies that are bullish include Cliff Asness’s AQR Capital Management, Bill Miller’s Legg Mason Capital Management and D. E. Shaw’s D E Shaw.
Now, certain bigger names were leading the bulls’ herd. Fisher Asset Management, managed by Ken Fisher, initiated the biggest position in Chevron Corporation (NYSE:CVX). Fisher Asset Management had 423.6 million invested in the company at the end of the quarter. Phill Gross and Robert Atchinson’s Adage Capital Management also made a $275 million investment in the stock during the quarter. The other funds with new positions in the stock are Cliff Asness’s AQR Capital Management, Bill Miller’s Legg Mason Capital Management, and D. E. Shaw’s D E Shaw.
Insider trading activity in Chevron Corporation (NYSE:CVX)
Bullish insider trading is best served when the company we’re looking at has experienced transactions within the past half-year. Over the latest half-year time frame, Chevron Corporation (NYSE:CVX) has experienced 1 unique insiders buying, and 6 insider sales (see the details of insider trades here).
We’ll go over the relationship between both of these indicators in other stocks similar to Chevron Corporation (NYSE:CVX). These stocks are TOTAL S.A. (ADR) (NYSE:TOT), Exxon Mobil Corporation (NYSE:XOM), BP plc (ADR) (NYSE:BP), Royal Dutch Shell plc (ADR) (NYSE:RDS.B), and PetroChina Company Limited (ADR) (NYSE:PTR). All of these stocks are in the major integrated oil & gas industry and their market caps match CVX’s market cap.