Institutional Investors' Take on Chevron's Fiscal 3Q15 Earnings
Hedge funds’ interest rose
In the last part of this series, we saw Chevron’s (CVX) YTD (year-to-date) returns. Now, we’ll look at the trades executed in Chevron by major hedge funds over the same period. Hedge funds’ investment decisions can be useful for investors who are trying to enter the market and build a handsome portfolio.
In fiscal 2Q15, most of the hedge funds that had significant exposure to Chevron increased their stakes or kept their positions steady in the company. Chevron’s shares fell ~20% during one year.
Among the hedge funds with substantial exposures, D.E. Shaw and Fisher Asset Managment improved their stakes by 0.56% and 0.66%, by their portfolio size, respectively. However, WCG Management and Jabre Capital Partners maintained their existing positions.
ETFs experienced declining performances
Investors are losing their money in energy ETFs and companies like ExxonMobil (XOM), ConocoPhillips (COP), BP (BP), and Chevron. They can consider pooled investment vehicles like the iShares Energy ETF (IYE) and the SPDR S&P Energy Select Sector ETF (XLE).
Hedge funds are betting on energy stocks like ExxonMobil, ConocoPhillips, and BP. They expected lower crude oil prices and other macro factors. Most of the biggest energy companies in the US—including ExxonMobil, Chevron, and ConocoPhillips—will likely report negative results.
In the next part of the series, we’ll look at Chevron’s valuation analysis.
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