Chevron (NYSE:CVX) Releases Earnings Results

Chevron (NYSE:CVX) posted its quarterly earnings results on Friday. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.49, Briefing.com reports. Chevron had a return on equity of 7.89% and a net margin of 6.51%.Chevron’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.18 EPS.

Here are the key takeaways from Chevron’s conference call:

• Strong cash generation and shareholder returns — Chevron reported $7.1B cash from operations (ex-WC), $4.1B adjusted free cash flow, completed $2.5B of share repurchases and received a $1B Tengiz loan repayment.
• Operational momentum — Q1 production rose ~500k boe/d YoY (U.S. >2M boe/d), TCO >1M boe/d, Gorgon and Wheatstone LNG at full rates, and U.S. refineries ran record crude throughput with Q2 equity crude throughput expected >40%.
• $3B timing and working-capital headwind — A steep March crude price rise produced ~ $3B of unfavorable timing effects (inventory valuation and mark-to-market on derivatives), weighed on adjusted earnings and contributed to issuing >$5B of commercial paper (about half repaid in April).
• Disciplined capital allocation maintained — Chevron reaffirmed 2026 guidance with $18–19B capex, a $2.5–3B buyback range, reconfirmed 7–10% production growth, and is on track for $3–4B of structural cost reductions and its 2030 targets.
• Venezuela position adds optionality but remains constrained — An asset swap increases Orinoco exposure and raises the Petroindependencia stake to 49%; operations are stable but the business is still in debt-recovery mode (Venezuela ~1–2% of cash flow) with receivables likely paid down by 2027.

Chevron Stock Down 1.3%

NYSE CVX traded down $2.52 on Friday, reaching $190.79. The company had a trading volume of 10,430,478 shares, compared to its average volume of 10,143,524. The stock has a market capitalization of $380.12 billion, a P/E ratio of 28.65, a P/E/G ratio of 0.72 and a beta of 0.51. The company’s fifty day moving average is $193.08 and its 200 day moving average is $171.09. Chevron has a 52-week low of $133.77 and a 52-week high of $214.71. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron’s dividend payout ratio is presently 106.91%.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Adjusted Q1 results topped Street estimates — Chevron reported adjusted EPS of $1.41, outpacing consensus, helped by higher oil & gas realizations and upstream production gains (Hess integration lifted output). Chevron’s upstream strength lifts first-quarter earnings past estimate
• Neutral Sentiment: Elevated crude prices from Middle East tensions remain a potential tailwind for future quarters, but the path is volatile and timing of higher realized profits depends on hedging and production recovery. Big Oil earnings and oil price context
• Neutral Sentiment: Wall Street positioning: analysts have been updating forecasts ahead of and after the print (some raise long?term EPS outlooks), which could limit downside if guidance/forward cues are constructive. Analyst forecast changes ahead of Q1
• Negative Sentiment: Headline profits plunged (net income fell ~36%) primarily because of derivative timing losses and hedges that moved against Chevron, dragging reported earnings even though operational results improved. Profit hits five-year low due to hedging & timing
• Negative Sentiment: Balance?sheet / cash?flow signal: management flagged Middle East risks and the company’s net?debt-to?cash?flow metric worsened, increasing investor concern about near?term financial flexibility. Net debt to cash flow worsens; CEO flags risks
• Negative Sentiment: Short?term market pressure from softening oil: crude weakened intraday (~3% drop), which pulled energy names lower and amplified selling after the mixed print. Crude oil down 3% and mixed Q1 coverage

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent research reports. Scotiabank increased their target price on Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. BMO Capital Markets reiterated an “outperform” rating and issued a $190.00 target price on shares of Chevron in a report on Monday, February 2nd. Barclays increased their target price on Chevron from $172.00 to $180.00 and gave the stock an “equal weight” rating in a report on Monday, March 16th. Melius Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. upgraded Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 target price on the stock in a report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $198.09.

Insiders Place Their Bets

In related news, insider Alana K. Knowles sold 2,408 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $183.28, for a total value of $441,338.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael K. Wirth sold 272,624 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $189.35, for a total value of $51,621,354.40. Following the completion of the sale, the chief executive officer directly owned 31,266 shares of the company’s stock, valued at $5,920,217.10. The trade was a 89.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 695,439 shares of company stock worth $131,274,332 in the last three months. 0.56% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chevron

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fox Hill Wealth Management lifted its position in shares of Chevron by 1.7% during the fourth quarter. Fox Hill Wealth Management now owns 3,443 shares of the oil and gas company’s stock valued at $525,000 after buying an additional 57 shares during the last quarter. Adams Wealth Management lifted its position in shares of Chevron by 3.9% during the fourth quarter. Adams Wealth Management now owns 1,626 shares of the oil and gas company’s stock valued at $248,000 after buying an additional 61 shares during the last quarter. CacheTech Inc. lifted its position in shares of Chevron by 3.9% during the fourth quarter. CacheTech Inc. now owns 1,626 shares of the oil and gas company’s stock valued at $248,000 after buying an additional 61 shares during the last quarter. White Knight Strategic Wealth Advisors LLC lifted its position in shares of Chevron by 3.0% during the second quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company’s stock valued at $319,000 after buying an additional 65 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its position in shares of Chevron by 7.4% during the second quarter. Rakuten Securities Inc. now owns 961 shares of the oil and gas company’s stock valued at $138,000 after buying an additional 66 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.