Icon Wealth Advisors LLC Has $496,000 Stock Holdings in Chevron Co. (NYSE:CVX)

Icon Wealth Advisors LLC decreased its stake in Chevron Co. (NYSE:CVX) by 97.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,368 shares of the oil and gas company’s stock after selling 116,570 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Chevron were worth $496,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CVX. Rational Advisors LLC purchased a new stake in shares of Chevron in the 3rd quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new stake in shares of Chevron in the third quarter valued at $30,000. Anfield Capital Management LLC boosted its position in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares during the period. Cyrus J. Lawrence LLC grew its holdings in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Finally, Krane Funds Advisors LLC purchased a new stake in Chevron in the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock opened at $162.36 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $151.58 and a 200-day simple moving average of $152.62. The stock has a market capitalization of $291.78 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 3.56 and a beta of 1.09. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.05 EPS. On average, sell-side analysts expect that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.02%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the topic of several research analyst reports. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. Bank of America assumed coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. Royal Bank of Canada boosted their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Barclays increased their price objective on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Mizuho lowered their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $174.93.

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.