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Chevron CEO believes stock is a great long-term value play, which attracted Buffett to the name

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Michael Wirth, CEO, Chevron, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020.

Adam Galica | CNBC

Chevron CEO Michael Wirth told CNBC he hasn’t spoken to Berkshire Hathaway since the firm took a stake in the oil giant, but he said the decision suggests confidence in Chevron’s long-term future.

“I can’t infer anything other than their investment decision would suggest that there’s some confidence in the long-term future of our company and our ability to generate value for shareholders over the long term,” Wirth said on CNBC’s “Closing Bell.”

“I look forward to meeting with them in the weeks and months to come,” he added.

Berkshire began building a position in Chevron



Source cnbc.com

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