Mon Sep 23 17:42:57 UTC 2024: ## Chevron (CVX) Sees Mixed Investor Activity in Q2 2024
**New York, NY -** Chevron Co. (NYSE: CVX), a major oil and gas company, experienced a mixed bag of investor activity in the second quarter of 2024. While some institutions trimmed their holdings, others significantly increased their positions. Notably, Xponance Inc. reduced its stake in Chevron by 2.7%, selling 6,471 shares, leaving them with 233,540 shares worth $36.53 million.
However, this reduction was counterbalanced by several significant increases from other major investors. Berkshire Hathaway Inc. grew its position by 14.4%, now holding 126,093,326 shares worth $18.8 billion. Similarly, Bank of New York Mellon Corp, Capital World Investors, and Capital International Investors all increased their holdings in Chevron during the first quarter.
Analyst sentiment on Chevron remains positive, with thirteen analysts issuing a “buy” rating and seven rating the stock a “hold”. MarketBeat.com reports a consensus rating of “Moderate Buy” with an average price target of $182.41.
Chevron reported earnings for the second quarter on August 2nd, falling short of analyst expectations with earnings per share of $2.55, missing the consensus estimate by $0.38. Despite this, revenue came in at $51.18 billion, exceeding analysts’ forecasts.
Looking forward, Chevron remains a significant player in the energy sector, with a market capitalization of $268.48 billion. The company continues to pay a dividend of $1.63 per share, representing a yield of 4.48%.
**Investors should note that this is a summary of recent activity and not a recommendation to buy or sell Chevron shares. Investors should conduct their own due diligence before making any investment decisions.**
First Piper 