Y-Intercept (Hong Kong) 13F: Exits Chevron (CVX) Stake

Y-Intercept (Hong Kong) has sold all its shares in Chevron Corporation (NYSE: CVX), cutting its position by 134,525 shares in a filing on October 16, 2026. This move leaves the fund with zero shares in the energy giant, indicating a significant shift in its portfolio. The total value of the shares sold is approximately $30 million based on recent trading levels.

What Changed in Y-Intercept's Chevron Position

Y-Intercept (Hong Kong) has exited its position in Chevron, selling all 134,525 shares. This marks a complete withdrawal from the stock, which may reflect the fund's changing investment strategy.

Other Institutional Activity in Chevron

Several other institutional investors adjusted their positions in Chevron recently. BlackRock Inc. increased its holdings by 10,101,663 shares, bringing its total to 154,824,622 shares valued at about $34.8 billion. Meanwhile, State Street Corporation reduced its stake by 4,685,886 shares, now holding 148,447,634 shares worth approximately $33.4 billion. Vanguard Capital Management LLC added 416,444 shares, ending with 122,899,830 shares valued at about $27.7 billion. Berkshire Hathaway, Inc. maintained its position at 84,375,856 shares, while Geode Capital Management, LLC grew its holdings by 860,406 shares to reach 44,535,812 shares.

Chevron Corporation Stock Up 1.1%

Chevron shares recently traded around $224.44, which is above the 50-day moving average by 8.7% and the 200-day moving average by 18.4%. The stock is also above its 52-week high by 0.4% and its 52-week low by 53.2%. However, it is trading slightly below the mean price target of $227.92 set by analysts.

Recent Earnings

Chevron reported a trailing twelve months revenue of approximately $209.4 billion, with an earnings per share (EPS) of $10.60. The company achieved a revenue growth of 53.5% year-over-year and a net margin of 9.8%. The next earnings report is scheduled for October 30, 2026.

Insider Buying and Selling at Chevron Corporation

In recent insider activity, several executives sold shares of Chevron. Jeff B. Gustavson, an officer, sold 14,044 shares at an average price of $194.95 on August 11, 2026, for a total value of about $2.74 million. CEO Michael K. Wirth sold 317,100 shares valued at approximately $63.6 million on August 14, 2026. Andrew Benjamin Walz, another officer, sold 16,800 shares at an average price of $201.06 on August 17, 2026, totaling about $3.38 million. Robert Hewitt Pate sold 2,470 shares for about $506,619 on August 18, 2026.

Analysts Set New Price Targets

On September 25, 2026, HSBC maintained a "Buy" rating on Chevron, raising its price target to $250.00 from $218.00. TD Cowen maintained a "Hold" rating with a target of $215.00 on September 28, 2026. UBS also kept a "Buy" rating on October 8, 2026, with a target of $235.00, while TD Cowen adjusted its "Hold" rating to a target of $225.00 on October 12, 2026. Morgan Stanley maintained an "Overweight" rating with a target of $226.00 on October 15, 2026. The consensus recommendation for Chevron remains a "Buy," with a mean target price of $227.92 from 24 analysts.

About Chevron Corporation

Chevron Corporation engages in integrated energy and chemicals operations. The company operates through its Upstream and Downstream segments, exploring and producing oil and gas, as well as refining and distributing petroleum products. This recent filing indicates a notable shift in Y-Intercept's investment strategy.

Bottom Line

Y-Intercept's decision to sell out of Chevron may signal a strategic pivot within its portfolio. Investors should watch for further filings from the fund and anticipate Chevron's next earnings report, which is due on October 30, 2026. This filing reflects holdings as of the reporting period and may not represent the investor's current position. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.