Chevron Attracts New Investors Amid Strong Quarter
Oppenheimer Asset Management Inc. recently bought a new stake in Chevron Corporation (NYSE:CVX), purchasing 710,571 shares worth approximately $117,784,000 during the second quarter.
The investment represents about 1.2% of Oppenheimer's holdings and makes it the company's 12th largest position.
This is not an isolated instance, as several other institutional investors have also increased their stakes in Chevron recently.
State Street Corp boosted its position by 9.1%, now owning 152,605,988 shares valued at $23,698,184,000, while Berkshire Hathaway Inc grew its stake by 6.6% and owns 130,156,362 shares worth $19,837,131,000.
Chevron's strong quarter has been cited as a reason for the increased investment, with analysts praising the company's performance in the energy sector.