Warren Buffett, CVX -- March 5, 2023

From February 17, 2021:

Today, over at CNN Business: what does Warren Buffett see in Chevron? The lede:

Many investors are increasingly hesitant to hold shares of oil and gas companies as a global energy transition gathers steam. [In 2022, with the war in Ukraine, Peter Zeihan said energy transition was dead.]

Not Warren Buffett. What's happening: Buffett's Berkshire Hathaway just disclosed a new stake in Chevron (CVX), the second largest oil firm in the United States. 

The $4.1 billion investment could have been spearheaded by Berkshire investment managers Ted Weschler and Todd Combs. But Buffett still runs the show, and it's a sign that the world's most famous investor sees long-term value in a sector that's taking plenty of heat. 

Chevron shares plunged to their lowest level since 2006 when the pandemic destroyed oil prices last March, and they've failed to fully recover. The company posted a net loss of $5.5 billion for 2020, and its stock is now trading at $93.13, 15% lower than one year ago.

So, two years ago, CVX trading for $93 when Warren Buffett initiated a position.

How's CVX doing now?

Paying 3.7%.