Cornerstone Capital Inc. Invests $2.05 Million in Chevron Corporation

Cornerstone Capital Inc. has invested $2.05 million in Chevron Corporation (NYSE:CVX). According to Cornerstone's latest Form 13F filing with the SEC, the firm bought 12,371 shares of CVX stock during the second quarter.

This is not an isolated instance; other institutional investors and hedge funds have also purchased CVX shares. Midwest Capital Advisors LLC acquired a new stake in Chevron in the first quarter valued at $25,000, while Core Wealth Advisors LLC bought 12,371 shares of CVX stock in the fourth quarter worth approximately $26,000.

Chevron has been performing well, with a strong quarterly earnings report that exceeded analysts' expectations. The company reported $6.06 earnings per share (EPS) for the quarter, beating estimates by $0.51. Chevron's revenue was up 57.4% year-over-year, reaching $67.20 billion.

Despite this success, Chevron's CEO Michael K. Wirth sold 5,547 shares of the stock in a transaction on August 5th, reducing his ownership stake by 17.41%. Director John B. Hess also sold 710,665 shares of CVX stock, decreasing his ownership by 66.15%.