Chevron Corporation (CVX) Fell with Decline in Global Oil Prices - InvestingChannel

Chevron Corporation (CVX) Fell with Decline in Global Oil Prices

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Growth & Income Fund” Q2 2023 investor letter. A copy of the same can be downloaded here. The S&P Index closed the quarter with a gain of 8.7%, which made the first half of the year’s return rose 16%. These gains suggest steady growth, but the reality is much more mixed. Macroeconomic fears still exist in the market. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Carillon Eagle Growth & Income Fund highlighted stocks like Chevron Corporation (NYSE:CVX) in the second quarter 2023 investor letter. Headquartered in San Ramon, California, Chevron Corporation (NYSE:CVX) provides administrative, financial management, and technology support for energy and chemical operations. On September 11, 2023, Chevron Corporation (NYSE:CVX) stock closed at $163.76 per share. One-month return of Chevron Corporation (NYSE:CVX) was -0.16%, and its shares gained 0.78% of their value over the last 52 weeks. Chevron Corporation (NYSE:CVX) has a market capitalization of $312.389 billion.

Carillon Eagle Growth & Income Fund made the following comment about Chevron Corporation (NYSE:CVX) in its Q2 2023 investor letter:

“Chevron Corporation (NYSE:CVX) stock also traded lower as global oil prices declined in response to fears of an economic slowdown. Energy stocks were the second-worst-performing sector in the quarter.”

gas oil energy Photo by Robin Sommer on Unsplash

Chevron Corporation (NYSE:CVX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 73 hedge fund portfolios held Chevron Corporation (NYSE:CVX) at the end of second quarter which was 64 in the previous quarter.

We discussed Chevron Corporation (NYSE:CVX) in another article and shared Warren Buffett’s dividend stocks by sectors and industries. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.

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