Legendary investor Warren Buffett does not miss out on many value investment opportunities. Recently, Berkshire Hathaway announced a $4.1 billion stake in Chevron Corp. (CVX). Over a one-year period, CVX stock has underperformed the market. However, the stock is up around 21% year-to-date and as investors look for value, CVX could continue to perform well. The energy sector faced significant headwinds last year as the pandemic triggered a collapse in oil demand. Nevertheless, as economic activity continues to improve, the supply-demand gap has narrowed on a relative basis. Production cuts by OPEC have also supported oil prices at higher levels with Brent already trading above $65 per barrel.