
This has been a tough year for the oil and gas sector, and crude oil prices (CLF25) are almost flat in 2024. Since the fortunes of energy companies are closely interlinked to oil and gas prices, they have also sagged in 2024, with Chevron (CVX) down 1% in the year to date.
Chevron is the second-largest integrated oil company in the U.S. after Exxon Mobil (XOM). It is also a top-five holding for Berkshire Hathaway (BRK.B), and while Warren Buffett has sold some shares, the conglomerate still holds a 6.6% stake in Chevron.