Hsbc Holdings Plc Boosted Its Chevron Corp New (CVX) Stake by $605.10 Million

April 23, 2018 - By Migdalia James

Chevron Corporation (NYSE:CVX) LogoInvestors sentiment increased to 0.99 in 2017 Q4. Its up 0.04, from 0.95 in 2017Q3. It improved, as 51 investors sold CVX shares while 686 reduced holdings. 122 funds opened positions while 608 raised stakes. 1.19 billion shares or 0.58% more from 1.18 billion shares in 2017Q3 were reported. Palisade Asset Management Lc stated it has 2.19% of its portfolio in Chevron Corporation (NYSE:CVX). Dearborn Prns Limited reported 0.7% of its portfolio in Chevron Corporation (NYSE:CVX). Frontier Inv Mgmt invested 0.3% of its portfolio in Chevron Corporation (NYSE:CVX). United Asset Strategies Inc has 3,997 shares for 0.13% of their portfolio. Westchester Cap Mngmt, Nebraska-based fund reported 1,031 shares. Sequent Asset Mgmt Limited Liability owns 1,825 shares for 0.13% of their portfolio. Evergreen Capital Mgmt Limited Liability Company has 0.28% invested in Chevron Corporation (NYSE:CVX). Thompson Rubinstein Invest Or reported 0.5% of its portfolio in Chevron Corporation (NYSE:CVX). Ruggie Cap Group Inc stated it has 1,849 shares or 0.15% of all its holdings. Wetherby Asset, a California-based fund reported 38,204 shares. Maryland-based Rothschild Cap Prtnrs Ltd Liability Company has invested 0.11% in Chevron Corporation (NYSE:CVX). Community has invested 2.09% in Chevron Corporation (NYSE:CVX). Family Mngmt Corporation holds 0.34% or 3,933 shares. Cim Mangement owns 11,359 shares. Spectrum invested 0.9% in Chevron Corporation (NYSE:CVX).

Since April 17, 2018, it had 0 insider purchases, and 1 insider sale for $3.11 million activity.

Hsbc Holdings Plc increased its stake in Chevron Corp New (CVX) by 1531.41% based on its latest 2017Q4 regulatory filing with the SEC. Hsbc Holdings Plc bought 4.84M shares as the company’s stock declined 8.26% with the market. The institutional investor held 5.16 million shares of the integrated oil company at the end of 2017Q4, valued at $645.58M, up from 316,100 at the end of the previous reported quarter. Hsbc Holdings Plc who had been investing in Chevron Corp New for a number of months, seems to be bullish on the $234.39 billion market cap company. The stock increased 0.32% or $0.39 during the last trading session, reaching $122.7. About 3.11 million shares traded. Chevron Corporation (NYSE:CVX) has risen 7.88% since April 23, 2017 and is uptrending. It has underperformed by 3.67% the S&P500.

Hsbc Holdings Plc, which manages about $69.08B US Long portfolio, decreased its stake in Fiat Chrysler Automobiles N by 247,702 shares to 271,337 shares, valued at $4.84M in 2017Q4, according to the filing. It also reduced its holding in Wisdomtree Tr (HEDJ) by 112,977 shares in the quarter, leaving it with 231,299 shares, and cut its stake in Fedex Corp (Call) (NYSE:FDX).

Chevron Corporation (NYSE:CVX) Ratings Coverage

Among 16 analysts covering Chevron Corp (NYSE:CVX), 13 have Buy rating, 0 Sell and 3 Hold. Therefore 81% are positive. Chevron Corp had 31 analyst reports since October 24, 2017 according to SRatingsIntel. BMO Capital Markets upgraded the shares of CVX in report on Thursday, January 11 to “Buy” rating. On Friday, February 2 the stock rating was upgraded by Societe Generale to “Buy”. Morgan Stanley maintained the shares of CVX in report on Wednesday, January 24 with “Overweight” rating. The stock of Chevron Corporation (NYSE:CVX) earned “Sector Perform” rating by RBC Capital Markets on Friday, February 9. On Tuesday, February 6 the stock rating was upgraded by Wells Fargo to “Buy”. The firm has “Hold” rating given on Friday, April 13 by RBC Capital Markets. The stock of Chevron Corporation (NYSE:CVX) earned “Hold” rating by Credit Suisse on Monday, December 11. The rating was upgraded by Bank of America on Wednesday, February 28 to “Buy”. Jefferies maintained the shares of CVX in report on Monday, February 5 with “Buy” rating. Jefferies maintained the stock with “Buy” rating in Friday, January 19 report.

Chevron Corporation (NYSE:CVX) Institutional Positions Chart

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