Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Chevron Corporation (CVX) Losing Support From Top Investors

The 700+ hedge funds and money managers tracked by Insider Monkey have now compiled and submitted their 13F filings for the third quarter, which unveiled their equity positions as of September 30. We went through these filings and identified the changes in hedge fund positions. Our extensive review of these public filings is finally over, so this article is set to reveal the latest smart money sentiment towards Chevron Corporation (NYSE:CVX).

Chevron Corporation (NYSE:CVX) has seen a decrease in support from the world’s most elite money managers of late. Chevron Corporation (NYSE:CVX) was in 45 hedge funds’ portfolios at the end of the third quarter of 2015. There were 50 hedge funds in our database with Chevron Corporation (NYSE:CVX) holdings at the end of the previous quarter. At the end of this article, we will also compare Chevron Corporation (NYSE:CVX) to other stocks, including Home Depot, Inc. (NYSE:HD), HSBC Holdings plc (ADR) (NYSE:HSBC), and Alibaba Group Holding Ltd (NYSE:BABA) to get a better sense of its popularity.

Follow Chevron Corp (NYSE:CVX)
Trade (NYSE:CVX) Now!

In the financial world, there are several gauges stock market investors can use to size up their stock investments. A pair of the best gauges are hedge fund and insider trading sentiment. Our researchers have shown that, historically, those who follow the top picks of the best hedge fund managers can beat the market by a solid amount (see the details here).

Now, we’re going to take a gander at the fresh action regarding Chevron Corporation (NYSE:CVX).

How have hedgies been trading Chevron Corporation (NYSE:CVX)?

At the end of Q3, a total of 45 of the hedge funds tracked by Insider Monkey were long this stock, a drop of 10% from one quarter earlier. With hedgies’ sentiment swirling, there exists a few notable hedge fund managers who were upping their holdings meaningfully (or already accumulated large positions).

When looking at the institutional investors followed by Insider Monkey, D E Shaw has the biggest position in Chevron Corporation (NYSE:CVX), worth close to $304.2 million, comprising 0.4% of its total 13F portfolio. The second-most bullish fund manager is Phill Gross and Robert Atchinson of Adage Capital Management, with a $230.6 million position; the fund has 0.6% of its 13F portfolio invested in the stock. Some other peers that are bullish contain Ken Fisher’s mutual fund, Fisher Asset Management, and John Overdeck and David Siegel’s Two Sigma Advisors.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.