Chevron Sees Surge in Hedge Fund Investment Amid Strong Earnings
Principle Wealth Partners LLC has purchased 51,751 shares of Chevron Corporation's stock in the second quarter, valued at approximately $8.58 million, according to its most recent filing with the SEC.
This is not an isolated event; other hedge funds have also been actively buying and selling Chevron shares. Global Retirement Partners acquired a new stake in Chevron in the second quarter worth around $14.28 million, while Indivisible Partners purchased 4,444 shares during the fourth quarter valued at about $1.92 million.
Chevron's stock performance has been strong, with the company's revenue up 57.4% compared to the same quarter last year, and its net margin reaching 9.57%. The business also reported earnings per share of $6.06 for the quarter, exceeding analysts' expectations by $0.51.