Erste Group Bank Predicts Stronger Earnings for Chevron

Chevron Corporation (NYSE:CVX) – Investment analysts at Erste Group Bank lifted their FY2027 earnings estimates for shares of Chevron in a research note issued to investors on Wednesday, October 21st. Erste Group Bank analyst H. Engel now anticipates that the oil and gas company will earn $15.35 per share for the year, up from their prior forecast of $13.78. The consensus estimate for Chevron’s current full-year earnings is $18.20 per share.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping the consensus estimate of $5.55 by $0.51. The business had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. The business’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.77 EPS.

Several other equities research analysts also recently issued reports on the company. Weiss Ratings upgraded Chevron from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, October 16th. Raymond James Financial cut their price objective on Chevron from $230.00 to $225.00 and set an “outperform” rating on the stock in a report on Tuesday, July 21st. TD Cowen boosted their price objective on Chevron from $215.00 to $225.00 and gave the company a “hold” rating in a research report on Monday, October 12th. Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a report on Thursday, July 2nd. Finally, Zacks Research raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $213.96.

Chevron Trading Down 1.6%

NYSE:CVX opened at $228.18 on Monday. Chevron has a 1 year low of $146.49 and a 1 year high of $234.08. The stock has a market cap of $450.84 billion, a price-to-earnings ratio of 21.88 and a beta of 0.53. The stock has a 50-day moving average price of $211.59 and a two-hundred day moving average price of $192.01.

Insider Buying and Selling at Chevron

In other news, insider Andrew Walz sold 16,800 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the completion of the transaction, the insider directly owned 14 shares of the company’s stock, valued at $2,814.84. This trade represents a 99.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Hess sold 710,665 shares of Chevron stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the completion of the sale, the director owned 363,711 shares in the company, valued at $70,596,305.10. This trade represents a 66.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,195,682 shares of company stock valued at $235,619,780 over the last quarter. Insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Blue Capital Inc. acquired a new stake in shares of Chevron in the 2nd quarter worth about $786,000. OneAscent Wealth Management LLC purchased a new stake in shares of Chevron during the 2nd quarter valued at approximately $973,000. Global Retirement Partners LLC bought a new position in Chevron in the 2nd quarter worth about $14,276,000. Greg Jennings LLC bought a new position in Chevron in the 3rd quarter worth about $1,314,000. Finally, Ferguson Wellman Capital Management Inc. lifted its position in Chevron by 0.6% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 911,718 shares of the oil and gas company’s stock valued at $186,182,000 after purchasing an additional 5,787 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron reported a “high-quality” natural-gas discovery offshore Egypt. The find could expand the company’s Egyptian resource base and support future production growth, although commercial development details are not yet available. Chevron makes high-quality gas discovery offshore Egypt
• Positive Sentiment: Chevron Australia agreed to supply South32 with 55 petajoules of natural gas over five years beginning in 2028. The long-term contract provides additional visibility for Chevron’s Australian gas business and supports demand from Worsley Alumina operations. Chevron Australian natural gas agreement
• Positive Sentiment: Chevron outlined a proposed $13.8 billion investment through 2035 to expand its Vaca Muerta operations in Argentina, with a goal of tripling oil production from its assets there. The plan offers a long-term production-growth opportunity, though it also requires substantial capital and carries regional execution risk. Chevron Vaca Muerta expansion
• Positive Sentiment: Exchange-traded funds recorded approximately $50.5 million in net buying of CVX on October 23, indicating continued institutional or passive-investment demand. Chevron ETF buying
• Neutral Sentiment: Analysts expect a sharp year-over-year rebound in third-quarter earnings, supported by stronger energy prices. However, the anticipated improvement may already be reflected in CVX’s valuation following its recent rally. Chevron expected earnings rebound
• Negative Sentiment: Investor commentary suggests that, despite attractive dividends and buybacks, CVX may offer less near-term upside after Brent crude rose above $115 and the shares approached their 12-month high. This backdrop can encourage investors to wait for earnings or lock in gains. Chevron dividend and buyback commentary
• Negative Sentiment: The principal near-term risk is the October 30 earnings report: elevated expectations leave less room for an earnings miss, cautious guidance, or weaker production and refining results to be received positively.

Chevron Company Profile

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.