Chevron (NYSE:CVX) Releases Quarterly Earnings Results, Beats Estimates By $0.44 EPS

Chevron (NYSE:CVX) issued its earnings results on Friday. The oil and gas company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.44, Briefing.com reports. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The business had revenue of $48.61 billion during the quarter, compared to analyst estimates of $51.86 billion. During the same quarter in the previous year, the firm earned $2.18 EPS. Chevron’s revenue was up 2.1% on a year-over-year basis.

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 Trading Down 1.3%

Chevron stock opened at $190.79 on Friday. The business has a 50-day simple moving average of $193.08 and a two-hundred day simple moving average of $171.09. The company has a market cap 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. 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 Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CVX. TD Cowen decreased their target price on Chevron from $214.00 to $204.00 and set a “hold” rating for the company in a research report on Monday, April 13th. Bank of America boosted their target price on Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Tudor Pickering raised Chevron from a “hold” rating to a “buy” rating and set a $225.00 target price for the company in a research report on Thursday, April 9th. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Royal Bank Of Canada boosted their price target on Chevron from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $198.09.

Insider Activity at Chevron

In related news, insider R. Hewitt Pate sold 58,000 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $188.65, for a total transaction of $10,941,700.00. Following the completion of the transaction, the insider directly owned 8,558 shares in the company, valued at approximately $1,614,466.70. The trade was a 87.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Thomas Ryder Booth sold 11,076 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $184.40, for a total value of $2,042,414.40. Following the transaction, the chief technology officer owned 1,122 shares of the company’s stock, valued at approximately $206,896.80. This trade represents a 90.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 695,439 shares of company stock worth $131,274,332 in the last quarter. 0.56% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CVX. United Bank grew its stake in shares of Chevron by 7.7% during the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock valued at $1,586,000 after acquiring an additional 796 shares during the period. Schnieders Capital Management LLC. boosted its stake in Chevron by 9.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock worth $7,280,000 after purchasing an additional 4,214 shares during the period. BNP Paribas boosted its stake in Chevron by 76.4% in the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock worth $63,000 after purchasing an additional 191 shares during the period. Osterweis Capital Management Inc. boosted its stake in Chevron by 678.9% in the 2nd quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock worth $195,000 after purchasing an additional 1,188 shares during the period. Finally, Main Street Financial Solutions LLC boosted its stake in Chevron by 3.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock worth $2,299,000 after purchasing an additional 553 shares during the period. 72.42% of the stock is currently owned by institutional investors.

More Chevron News

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

About Chevron

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.