Institutional Investors Flock to Chevron Amid Major Discovery

Performance Wealth Partners LLC made a new investment in Chevron Corporation (NYSE:CVX) during the second quarter, according to its latest Form 13F filing with the Securities and Exchange Commission. The firm purchased 30,641 shares of Chevron's stock, valued at approximately $5,079,000.

This is not an isolated incident; other large investors have also made changes to their positions in CVX. Midwest Capital Advisors LLC bought a new position in Chevron during the first quarter worth about $25,000, while Core Wealth Advisors LLC and Phillip James Consulting Co. acquired new stakes in shares of Chevron during the fourth quarter.

The institutional ownership of Chevron's stock stands at 72.42%. The company has seen significant developments recently, including a major discovery in offshore Angola's Block 0, which is expected to expand its resource base. Chevron also announced a quarterly dividend of $1.78 per share, paid on Thursday, September 10th to investors of record on Wednesday, August 19th.