Chevron (NYSE:CVX) Issues Earnings Results, Beats Estimates By $0.49 EPS

Key Points

• Adjusted EPS beat: Chevron reported adjusted EPS of $1.41 versus consensus of $0.92 (a $0.49 beat), but headline net income fell about 36% year‑over‑year due to roughly $3B of timing and derivative losses from a March crude price spike.
• Strong cash and shareholder returns: The company generated $7.1B of cash from operations (ex‑WC) and $4.1B of adjusted free cash flow, completed $2.5B of buybacks, declared a $1.78 quarterly dividend (3.7% yield), and reaffirmed its 2026 capital‑allocation plan (capex $18–19B; $2.5–3B buybacks).
• Operational momentum: Q1 production rose ~500k boe/d YoY (U.S. >2M boe/d), TCO >1M boe/d, Gorgon and Wheatstone LNG ran at full rates, and U.S. refineries recorded record crude throughput.

Chevron (NYSE:CVX - Get Free Report) released 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%.During the same quarter in the prior year, the firm posted $2.18 EPS. The firm's revenue for the quarter 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 Price Performance

Shares of CVX traded down $2.52 during mid-day trading on Friday, hitting $190.79. The company's stock had a trading volume of 10,430,478 shares, compared to its average volume of 10,143,524. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The firm has a 50-day simple moving average of $193.08 and a 200 day simple moving average of $171.09. The firm 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. Chevron has a 1-year low of $133.77 and a 1-year high of $214.71.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be issued a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron's dividend payout ratio (DPR) is currently 106.91%.

Insiders Place Their Bets

In other news, insider Alana K. Knowles sold 2,408 shares of the firm's stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the firm's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $187.92, for a total value of $26,233,632.00. Following the completion of the sale, the insider directly owned 11,337 shares of the company's stock, valued at $2,130,449.04. This represents a 92.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 695,439 shares of company stock worth $131,274,332. Corporate insiders own 0.56% of the company's stock.

Hedge Funds Weigh In On Chevron

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Schnieders Capital Management LLC. grew its position in shares of Chevron by 9.0% in the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company's stock valued at $7,280,000 after purchasing an additional 4,214 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in shares of Chevron in the fourth quarter valued at $114,000. Litman Gregory Wealth Management LLC purchased a new stake in shares of Chevron in the fourth quarter valued at $86,000. Jessup Wealth Management Inc purchased a new stake in shares of Chevron in the fourth quarter valued at $53,000. Finally, Wiser Advisor Group LLC purchased a new stake in shares of Chevron in the third quarter valued at $57,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVX has been the topic of several analyst reports. Morgan Stanley lifted their target price on Chevron from $174.00 to $212.00 and gave the company an "overweight" rating in a research note on Friday, March 27th. UBS Group reiterated a "buy" rating and issued a $212.00 target price on shares of Chevron in a research note on Monday, February 2nd. Bank of America lifted their target price on Chevron from $188.00 to $206.00 and gave the company a "buy" rating in a research note on Monday, March 2nd. Zacks Research upgraded Chevron from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 3rd. Finally, Argus set a $203.00 target price on Chevron in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $198.09.

Chevron News Roundup

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.