Chevron's Strong Quarter Attracts More Institutional Investors
Fielder Capital Group LLC has acquired a new position in Chevron Corporation (NYSE:CVX), according to its most recent 13F filing. In the second quarter, Fielder purchased 17,364 shares of Chevron's stock, valued at approximately $2,878,000.
This is not an isolated instance, as several other institutional investors have also made changes to their positions in Chevron during the same period. United Bank boosted its stake by 7.7%, while Schnieders Capital Management LLC increased its holdings by 9.0%. BNP Paribas also raised its position by 76.4%.
These moves are likely driven by Chevron's strong quarterly performance, which saw the company report earnings of $6.06 per share, exceeding analyst expectations of $5.55. The firm's revenue for the quarter was up 57.4% on a year-over-year basis.