The latest EIA data is out, and in contrast to that of previous weeks, U.S commercial crude oil inventories rose by 4.9 million barrels, a number higher than what many analysts were expecting.
Given that data, it’s unsurprising that two energy names are among the five trending stocks which we’ll look at in this article. Those stocks are Deutsche Bank AG (USA) (NYSE:DB), Chevron Corporation (NYSE:CVX), Freeport-McMoRan Inc (NYSE:FCX), Hortonworks Inc (NASDAQ:HDP), and Talend SA ADR (NASDAQ:TLND). In addition to the news, we’ll also see what the world’s greatest investors think of each stock using the latest 13F filing data.
At Insider Monkey, we track around 750 hedge funds and institutional investors. Through extensive backtests, we have determined that imitating some of the stocks that these investors are collectively bullish on, can help retail investors generate double digits of alpha per year. The key is to focus on the small-cap picks of these funds, which are usually less followed by the broader market and allow for larger price inefficiencies (see the details here).
Deutsche Bank AG (USA) (NYSE:DB) is in the spotlight after Bloomberg reported that the embattled bank will freeze its hiring activity company-wide (with the only exception being compliance-related jobs) to cut costs and boost investor sentiment in the stock. Shares of the bank have fallen by 43% year-to-date due to the soft European economy and the continued uncertainty over the Department of Justice’s request for $14 billion to settle the investment bank’s alleged mortgage-related misdeeds during the financial crisis. Deutsche Bank is expected to report its quarterly results on October 27. Of the 749 hedge funds that we track which filed 13Fs for the June quarter, 15 were long Deutsche Bank AG (USA) (NYSE:DB) at the end of the second quarter, up by five from the end of the first quarter.
Chevron Corporation (NYSE:CVX) is trending after Reuters reported that the energy giant is planning to begin selling condensate produced through its Gorgon Project this month. According to Reuters’ sources, Chevron could begin marketing 600,000-to-650,000 barrels of condensate for December loading to various buyers. It is important for Chevron to ramp up production from the Gorgon Project, as the company could really use the cash-flow garnered from sales to fund its dividend. Shares of Chevron currently pay out an annual yield of over 4.2%. Ken Fisher‘s Fisher Asset Management owned 3.6 million shares of Chevron Corporation (NYSE:CVX) at the end of September, down by 2% from the end of June.
On the next page we’ll examine the latest concerning Freeport-McMoRan, Hortonworks, and Talend SA.