BIP Wealth Takes a Big Bet on Chevron

BIP Wealth LLC has acquired a new stake in Chevron Corporation (NYSE:CVX) worth approximately $3,176,000. The firm bought 19,161 shares of the oil and gas company's stock during the second quarter.

This is not an isolated instance; several other hedge funds have also purchased new positions in Chevron. Midwest Capital Advisors LLC acquired a new position in Chevron during the first quarter worth $25,000, while Core Wealth Advisors LLC bought 19,161 shares of the company in the fourth quarter valued at about $26,000.

In contrast to these investors, Chevron's CEO Michael K. Wirth sold 5,547 shares of the stock on August 5th for a total transaction of $1,037,289. Following this sale, he directly owned 26,308 shares of the company's stock, valued at $4,919,596. This represents a 17.41% decrease in his ownership of the stock.