Icon Wealth Advisors LLC Sells 1,936 Shares of Chevron Co. (NYSE:CVX)

Icon Wealth Advisors LLC lowered its position in shares of Chevron Co. (NYSE:CVX) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,456 shares of the oil and gas company’s stock after selling 1,936 shares during the period. Chevron makes up approximately 1.7% of Icon Wealth Advisors LLC’s portfolio, making the stock its 12th largest position. Icon Wealth Advisors LLC’s holdings in Chevron were worth $18,370,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. American Capital Advisory LLC boosted 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 valued at $25,000 after buying an additional 125 shares during the last quarter. Bare Financial Services Inc bought a new stake in shares of Chevron in the fourth quarter worth approximately $27,000. Frank Rimerman Advisors LLC purchased a new position in shares of Chevron during the fourth quarter valued at approximately $30,000. Cooksen Wealth LLC bought a new position in Chevron during the fourth quarter valued at approximately $40,000. Finally, Clear Investment Research LLC boosted its holdings in Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the transaction, the director now directly owns 2,549 shares in the company, valued at approximately $416,761.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related 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 in the company, valued at $76,429.71. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the sale, the director now owns 2,549 shares in the company, valued at $416,761.50. The disclosure for this sale can be found here. Insiders have sold a total of 13,946 shares of company stock valued at $2,265,971 in the last quarter. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

CVX has been the topic of several research analyst reports. UBS Group increased their price target on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Barclays began coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective on the stock. Raymond James raised their price objective on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. Finally, Scotiabank dropped their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.67.

Chevron Price Performance

CVX traded up $2.97 on Tuesday, hitting $159.57. 5,740,372 shares of the company’s stock traded hands, compared to its average volume of 7,773,868. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The firm has a market cap of $294.08 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 2.54 and a beta of 1.10. The company’s 50 day simple moving average is $156.58 and its 200-day simple moving average is $155.90.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.55 EPS. As a group, research analysts anticipate that Chevron Co. will post 12.45 EPS for the current year.

Chevron 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.