Chevron Stock Earnings Estimates Boosted by Erste Group Bank

Chevron Corporation (NYSE:CVX) – Erste Group Bank upped their FY2026 earnings per share (EPS) estimates for shares of Chevron in a research report issued to clients and investors on Wednesday, October 21st. Erste Group Bank analyst H. Engel now anticipates that the oil and gas company will post earnings of $17.63 per share for the year, up from their previous forecast of $16.90. The consensus estimate for Chevron’s current full-year earnings is $18.12 per share.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.51. The company had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.77 earnings per share.

A number of other brokerages have also recently commented on CVX. Wolfe Research upgraded Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a research note on Thursday, July 2nd. JPMorgan Chase & Co. increased their target price on Chevron from $190.00 to $222.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Wall Street Zen upgraded Chevron from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Royal Bank Of Canada boosted their price target on Chevron from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, September 24th. Finally, UBS Group upped their price target on Chevron from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average target price of $213.96.

Chevron Stock Down 0.1%

Shares of NYSE CVX opened at $226.65 on Friday. Chevron has a 12-month low of $146.49 and a 12-month high of $229.04. The company has a market cap of $447.80 billion, a P/E ratio of 21.73, a P/E/G ratio of 0.54 and a beta of 0.53. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average price of $209.95 and a 200 day moving average price of $194.11.

Hedge Funds Weigh In On Chevron

Large investors have recently added to or reduced their stakes in the company. State Street Corp increased its stake in Chevron by 3.9% during the second quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company’s stock valued at $28,016,651,000 after purchasing an additional 5,998,852 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Chevron during the second quarter worth $25,663,729,000. Bank of America Corp DE raised its holdings in shares of Chevron by 5.1% during the first quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company’s stock worth $5,716,694,000 after purchasing an additional 1,334,976 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Chevron in the 2nd quarter worth about $2,378,114,000. Finally, Amundi lifted its position in shares of Chevron by 14.1% in the 2nd quarter. Amundi now owns 13,900,271 shares of the oil and gas company’s stock worth $2,304,109,000 after buying an additional 1,714,835 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Activity at Chevron

In other Chevron news, insider Andrew Walz sold 16,800 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the transaction, the insider owned 14 shares of the company’s stock, valued at $2,814.84. This trade represents a 99.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael K. Wirth sold 317,100 shares of Chevron stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $200.46, for a total value of $63,565,866.00. Following the completion of the transaction, the chief executive officer owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. The trade was a 92.34% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,195,682 shares of company stock worth $235,619,780. Company insiders own 0.56% of the company’s stock.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were paid a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Wednesday, August 19th. Chevron’s dividend payout ratio is 68.26%.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is in preliminary talks with Iraq’s Oil Ministry to take over operatorship of the West Qurna 2 supergiant oil field from Lukoil. Iraqi officials see potential to double production, which could create a significant long-term growth opportunity if negotiations are completed. Chevron considers West Qurna 2 opportunity
• Positive Sentiment: Chevron is applying its Permian Basin operating approach to Argentina’s Vaca Muerta shale region. Improving drilling and completion efficiency could help unlock additional production and enhance the value of the company’s assets there. Chevron applies Permian strategy in Argentina
• Positive Sentiment: Bank of America raised its Chevron price target to $252 from $227, signaling improved confidence in the company’s earnings and cash-flow prospects. Bank of America raises Chevron price target
• Positive Sentiment: Chevron is considering a roughly $1 billion sale of mature U.S. Gulf of Mexico assets. Divesting older properties could streamline the portfolio, release capital for newer offshore projects and support production growth, although final terms remain uncertain. Chevron considers Gulf asset sale
• Neutral Sentiment: Investors are focused on Chevron’s upcoming earnings report, expected Friday, to determine whether higher oil prices and recent operating developments are translating into stronger production, revenue and cash flow. Chevron earnings expected Friday
• Neutral Sentiment: Chevron announced executive changes, including Jeff Gustavson becoming CFO while Eimear Bonner moves to lead oil, products and gas. The changes may influence execution but do not immediately alter the company’s fundamentals. Chevron leadership changes
• Negative Sentiment: Director R. Hewitt Pate sold 43,100 CVX shares worth approximately $9.8 million in two transactions. The sales were conducted under a pre-arranged Rule 10b5-1 plan, reducing their value as a discretionary bearish signal, but the substantial ownership reduction may weigh modestly on sentiment. Chevron insider sales filing

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.