Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Growth & Income Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The S&P 500 Index rose 11.7% in Q4 and 26.3% for the year. Investors became more comfortable that the U.S. Federal Reserve was done with raising interest rates, leading to a decrease of over 70 basis points in 10-year U.S. Treasury yields. The Federal Reserve’s core Personal Consumption Expenditures (PCE) Price Index has been moderating on a year-over-year basis, easing concerns about interest rates. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Carillon Eagle Growth & Income Fund featured stocks like Chevron Corporation (NYSE:CVX) in the fourth quarter 2023 investor letter. Headquartered in San Ramon, California, Chevron Corporation (NYSE:CVX) engages in integrated energy and chemicals operations through its subsidiaries. On March 7, 2024, Chevron Corporation (NYSE:CVX) stock closed at $149.37 per share. One-month return of Chevron Corporation (NYSE:CVX) was -1.11%, and its shares lost 6.45% of their value over the last 52 weeks. Chevron Corporation (NYSE:CVX) has a market capitalization of $277.42 billion.
Carillon Eagle Growth & Income Fund stated the following regarding Chevron Corporation (NYSE:CVX) in its fourth quarter 2023 investor letter:
“Chevron Corporation (NYSE:CVX) traded lower, along with oil prices, and issued a disappointing earnings announcement due to overseas refining losses. Separately, the company announced an agreement to buy another energy company with operations offshore of Guyana, as well as in North Dakota, the Gulf of Mexico, and the Gulf of Thailand. This is a strategic acquisition for very little takeout premium.”
An aerial view of an oil rig at sea, the sun glinting off its structure.
Chevron Corporation (NYSE:CVX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Chevron Corporation (NYSE:CVX) was held by 71 hedge fund portfolios, down from 72 in the previous quarter, according to our database.
We discussed Chevron Corporation (NYSE:CVX) in another article and shared Diamond Hill Large Cap Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q4 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.
