Westfield Capital Management Co. LP Has $7.16 Million Stock Position in Chevron Co. (NYSE:CVX)

Westfield Capital Management Co. LP raised its position in Chevron Co. (NYSE:CVX) by 27.9% in the first quarter, HoldingsChannel reports. The fund owned 45,387 shares of the oil and gas company’s stock after purchasing an additional 9,888 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Chevron were worth $7,159,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. American Capital Advisory LLC increased its position in shares of Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 125 shares in the last quarter. Bare Financial Services Inc purchased a new stake in shares of Chevron in the fourth quarter worth approximately $27,000. Frank Rimerman Advisors LLC bought a new position in shares of Chevron in the fourth quarter valued at approximately $30,000. Cooksen Wealth LLC purchased a new position in shares of Chevron during the fourth quarter valued at approximately $40,000. Finally, Clear Investment Research LLC grew its holdings in Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after buying an additional 204 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the transaction, the vice president now owns 477 shares of the company’s stock, valued at approximately $76,429.71. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares of the company’s stock, valued at approximately $76,429.71. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total value of $410,389.00. Following the sale, the director now directly owns 7,647 shares in the company, valued at $1,231,167. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,746 shares of company stock valued at $2,727,971. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Down 1.7 %

CVX traded down $2.82 on Friday, hitting $159.15. The company had a trading volume of 6,427,723 shares, compared to its average volume of 6,999,900. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The stock has a fifty day simple moving average of $157.34 and a 200-day simple moving average of $155.42. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The firm has a market capitalization of $293.31 billion, a P/E ratio of 14.64, a P/E/G ratio of 2.53 and a beta of 1.10.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the prior year, the company earned $3.55 earnings per share. The business’s revenue was down 4.1% compared to the same quarter last year. As a group, equities analysts expect that Chevron Co. will post 12.6 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of analyst reports. Scotiabank cut their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Wolfe Research began coverage on shares of Chevron in a research report on Thursday. They issued a “peer perform” rating for the company. Barclays assumed coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. TD Cowen boosted their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Finally, Mizuho raised their target price on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $186.22.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.