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Chevron Revitalizing with Improving Financials, Outperforms SPY

PART:
1 2 3 4 5 6 7 8 9 10 11 12 13
Part 6
Chevron Revitalizing with Improving Financials, Outperforms SPY PART 6 OF 13

A Look at Chevron’s Institutional Holdings

Mid-series recap

So far in this series, we’ve explored why Chevron (CVX) stock outperformed the broader market. We also saw that CVX’s 50-day moving average has been inching up after its 2Q17 earnings. We estimated Chevron stock’s 11-day price forecast range for the period ending September 1, 2017, based on its implied volatility.

We saw why the majority of analysts rate Chevron as a “buy.” In the previous part, we saw that analysts expect Chevron’s dividend payment to remain unchanged in the next quarter. Now, we’ll look at changes in institutional ownership in Chevron stock.

A Look at Chevron’s Institutional Holdings

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Institutional holdings

Institutional holdings show the percentage of a company’s stock owned by institutions like mutual funds and banks. The level of these holdings suggests the confidence level or sentiment that sophisticated market participants like these institutions have in a stock. Rising institutional ownership generally indicates a positive opinion about a stock.

Institutional holdings in Chevron

Institutional holdings in Chevron currently stand at ~64% of outstanding shares, falling 0.4% over February 2017. Institutions with huge ownership stakes include the Vanguard Group, State Street Global Advisors, BlackRock Institutional Trust, and Wellington Management Company.

On an average and considering the past six months of data, Vanguard and Blackrock have increased their total holdings in CVX. However, State Street and Wellington have reduced their total holdings in the stock. The largest buyer of Chevron stock in the past six months has been the Vanguard Group, and the biggest seller has been T. Rowe Price Associates.

Peers’ institutional ownerships

CVX’s peers ExxonMobil (XOM), Royal Dutch Shell (RDS.A), and BP (BP) also saw a fall in their institutional ownership levels by 0.8%, 1.3%, and 0.8%, respectively, since February 2017. Institutional ownership in XOM, Shell, and BP stands at ~52%, ~11%, and ~11%, respectively.

To learn where Chevron stands in terms of forward valuations in comparison to its peers, please move on to the next part.

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