Chevron (NYSE:CVX) Posts Earnings Results, Beats Expectations By $0.49 EPS

Chevron (NYSE:CVX) announced its quarterly earnings data on Friday. The oil and gas company reported $1.41 EPS for the quarter, beating 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%.The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.18 earnings per share.

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%

Shares of NYSE CVX traded down $2.52 on Friday, hitting $190.79. The company had a trading volume of 10,430,478 shares, compared to its average volume of 10,143,524. 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 has a 12-month low of $133.77 and a 12-month high of $214.71. The firm has a market capitalization of $380.12 billion, a P/E ratio of 28.65, a PEG ratio of 0.72 and a beta of 0.51. The business has a 50 day moving average of $193.08 and a two-hundred day moving average of $171.09.

Chevron Dividend Announcement

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

Insider Activity

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 transaction, the insider directly owned 8,558 shares of the company’s stock, valued at approximately $1,614,466.70. The trade was a 87.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Thomas Ryder Booth sold 11,076 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $184.40, for a total value of $2,042,414.40. Following the transaction, the chief technology officer directly owned 1,122 shares in the company, valued at $206,896.80. This trade represents a 90.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 695,439 shares of company stock worth $131,274,332 in the last ninety days. 0.56% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chevron

Several hedge funds and other institutional investors have recently bought and sold shares of CVX. State Street Corp lifted its position in Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after acquiring an additional 12,789,399 shares in the last quarter. Amundi lifted its position in Chevron by 41.8% during the 3rd quarter. Amundi now owns 11,760,376 shares of the oil and gas company’s stock worth $1,811,333,000 after acquiring an additional 3,464,058 shares in the last quarter. Northern Trust Corp lifted its position in Chevron by 15.3% during the 3rd quarter. Northern Trust Corp now owns 22,724,515 shares of the oil and gas company’s stock worth $3,528,890,000 after acquiring an additional 3,007,403 shares in the last quarter. Renaissance Technologies LLC lifted its position in Chevron by 423.6% during the 4th quarter. Renaissance Technologies LLC now owns 2,191,314 shares of the oil and gas company’s stock worth $333,978,000 after acquiring an additional 1,772,766 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Chevron by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company’s stock worth $5,492,377,000 after acquiring an additional 961,341 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CVX shares. JPMorgan Chase & Co. raised Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 price target for the company in a research report on Tuesday, January 20th. Sanford C. Bernstein boosted their price target on Chevron from $170.00 to $172.00 and gave the company a “market perform” rating in a research report on Monday, January 5th. Tudor Pickering raised Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target for the company in a research report on Thursday, April 9th. Wall Street Zen raised Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Morgan Stanley boosted their price target on Chevron from $174.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $198.09.

Trending Headlines about 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

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.