Erste Group Bank Increases Earnings Estimates for Chevron

Key Points

• Erste Group Bank raised its FY2026 EPS estimate for Chevron to $13.39 from $12.53, though that is still below the broader consensus estimate of $15.02 per share.
• Chevron recently reported Q1 EPS of $1.41, beating expectations of $1.00, but revenue of $47.56 billion came in below the $51.86 billion forecast.
• Analyst sentiment remains constructive overall, with multiple firms lifting price targets and the stock carrying a Moderate Buy consensus and average target price of $202.74.

Chevron Corporation (NYSE:CVX - Free Report) - Investment analysts at Erste Group Bank increased their FY2026 EPS estimates for Chevron in a research note issued to investors on Tuesday, May 5th. Erste Group Bank analyst H. Engel now expects that the oil and gas company will post earnings per share of $13.39 for the year, up from their previous estimate of $12.53. The consensus estimate for Chevron's current full-year earnings is $15.02 per share.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. During the same period last year, the business earned $2.18 earnings per share. The business's revenue was up 2.1% on a year-over-year basis.

Other equities analysts have also issued reports about the stock. Morgan Stanley boosted their price objective on shares of Chevron from $174.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, March 27th. BNP Paribas Exane upgraded shares of Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 price objective for the company in a report on Friday, April 17th. TD Cowen boosted their price objective on shares of Chevron from $204.00 to $205.00 and gave the stock a "hold" rating in a report on Friday. Jefferies Financial Group boosted their price objective on shares of Chevron from $174.00 to $189.00 and gave the stock a "buy" rating in a report on Wednesday, January 14th. Finally, Zacks Research upgraded shares of Chevron from a "hold" rating to a "strong-buy" rating in a report on Friday, April 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $202.74.

Chevron Price Performance

CVX stock opened at $181.37 on Monday. The firm has a 50 day moving average price of $193.21 and a 200-day moving average price of $172.09. Chevron has a 52-week low of $133.77 and a 52-week high of $214.71. The firm has a market capitalization of $361.22 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 0.63 and a beta of 0.51. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Chevron by 17.9% during the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company's stock valued at $28,540,753,000 after purchasing an additional 27,961,463 shares during the last quarter. State Street Corp boosted its holdings in shares of 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 valued at $23,698,184,000 after purchasing an additional 12,789,399 shares during the last quarter. Berkshire Hathaway Inc boosted its holdings in shares of Chevron by 6.6% during the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company's stock valued at $19,837,131,000 after purchasing an additional 8,091,570 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Chevron by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company's stock valued at $6,620,187,000 after purchasing an additional 134,890 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 valued at $5,492,377,000 after purchasing an additional 961,341 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Insider Buying and Selling

In related news, insider Andrew Benjamin Walz sold 11,600 shares of the company's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $188.58, for a total value of $2,187,528.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hess sold 195,000 shares of the company's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $184.78, for a total transaction of $36,032,100.00. Following the completion of the transaction, the director directly owned 658,045 shares of the company's stock, valued at $121,593,555.10. This represents a 22.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 816,439 shares of company stock worth $154,339,900 in the last three months. Corporate insiders own 0.56% of the company's stock.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be issued a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 3.9%. Chevron's dividend payout ratio is currently 123.40%.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s first-quarter results beat profit expectations, with adjusted EPS of $1.41 versus the $0.97 consensus, reinforcing the company’s ability to generate earnings even amid volatile energy markets. Chevron (CVX) Reports Q1 Earnings: What Key Metrics Have to Say
• Positive Sentiment: Goldman Sachs raised its price target on Chevron and kept a Buy rating, citing improved confidence in cash flow, production, and shareholder return plans after the earnings report. Goldman Sachs gives Chevron stock price new target after earnings
• Positive Sentiment: Multiple research notes and articles highlighted Chevron as a dividend aristocrat and a long-term value play, which can support investor interest in the stock. 3 ‘Strong Buy’ Dividend Aristocrat Stocks, 5/8/26
• Positive Sentiment: TD Cowen nudged its price target higher to $205 while maintaining a Hold rating, and Erste Group also lifted its FY2027 earnings estimate, signaling still-constructive expectations for Chevron’s earnings outlook. Chevron estimate and target updates
• Neutral Sentiment: Analysts and commentary also pointed to Chevron’s LNG strategy and South Asian export growth as a longer-term earnings driver, but this is more of a strategic backdrop than an immediate catalyst. Can Chevron's South Asian LNG Strategy Drive Long-Term Growth?
• Negative Sentiment: Despite the earnings beat, Chevron’s revenue came in below Wall Street estimates, which may be tempering enthusiasm and contributing to the stock’s weakness. Chevron (CVX) Reports Q1 Earnings: What Key Metrics Have to Say

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.

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