Oppenheimer Asset Management’s Chevron Holdings Expanded

November 13, 2024 11:06 PM PST | By Team Kalkine Media

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Oppenheimer Asset Management’s Chevron Holdings Expanded — Image source: Shutterstock

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Headlines

Oppenheimer Asset Management has expanded its stake in Chevron, reinforcing its focus on energy investments.

Institutional interest in Chevron has increased, with several funds strengthening their positions.

Chevron's robust presence in investment portfolios showcases strong institutional confidence.

Oppenheimer Asset Management has recently increased its holdings in Chevron Co. (NYSE:CVX) by 10.4% during the third quarter, as reported in its latest filing with the Securities and Exchange Commission. The firm now owns a substantial number of Chevron shares, positioning Chevron as one of the more significant investments in its portfolio. This increase reflects Oppenheimer’s continued commitment to Chevron, a major player in the oil and gas sector.

Other prominent institutional investors and hedge funds have also reinforced their stakes in Chevron. Ameriprise Financial Inc., for instance, expanded its Chevron holdings during the second quarter, increasing its stake by 3.0%. Similarly, Capital World Investors raised its Chevron position by 3.2% in the first quarter, while Legal & General Group boosted its share count by 4.9% in the second quarter, showing ongoing institutional confidence in Chevron’s potential.

Capital International Investors also grew its investment in Chevron by 5.9% during the first quarter, adding a notable number of shares. Meanwhile, Dimensional Fund Advisors LP modestly increased its Chevron holdings in the second quarter. Overall, approximately 72% of Chevron’s shares are now held by institutional investors, highlighting widespread interest from major funds.

The increased institutional investment reflects Chevron’s position as a key asset within diversified portfolios. The rising stakes among these leading financial institutions underscore Chevron’s status as a strong performer in the energy sector.

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