Is it a Great Move to Continue Investing in Chevron (CVX)?

Carillon Tower Advisers, an investment management firm, published its “Carillon Eagle Growth & Income Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. The Carillon Family of Funds spans a range of investment objectives and asset classes designed for long-term investors.  Along with the spike in oil prices, energy stocks performed best during the quarter, followed by more defensive and countercyclical sectors like utilities and consumer staples. The fund continues to see a somewhat balanced outlook for equity market returns. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Carillon Eagle Growth & Income Fund mentioned Chevron Corporation (NYSE:CVX) and explained its insights for the company. Founded in 1879, Chevron Corporation (NYSE:CVX) is a San Ramon, California-based energy industry company with a $284.4 billion market capitalization. Chevron Corporation (NYSE:CVX) delivered a 23.37% return since the beginning of the year, while its 12-month returns are up by 36.31%. The stock closed at $144.78 per share on June 30, 2022.

Here is what Carillon Eagle Growth & Income Fund has to say about Chevron Corporation (NYSE:CVX) in its Q1 2022 investor letter:

” Along with the spike in oil prices, energy stocks performed best during the quarter, followed by more defensive and countercyclical sectors like utilities and consumer staples. Chevron (NYSE:CVX) traded higher with global energy prices. The war in Ukraine prompted fears over a shortage in supply, resulting in higher commodity prices.”

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Our calculations show that Chevron Corporation (NYSE:CVX) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Chevron Corporation (NYSE:CVX) was in 53 hedge fund portfolios at the end of the first quarter of 2022, compared to 53 funds in the previous quarter. Chevron Corporation (NYSE:CVX) delivered a -11.09% return in the past 3 months.

In December 2021, we also shared another hedge fund’s views on Chevron Corporation (NYSE:CVX) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

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