Chevron FY2027 Earnings Forecast Raised by Erste Group Bank

Key Points

• Erste Group Bank raised Chevron’s FY2027 EPS forecast to $15.35 from $13.78, although the estimate remains below the $18.20 consensus.
• Chevron’s latest quarterly results exceeded expectations, with EPS of $6.06 versus $5.55 expected and revenue of $67.20 billion, up 57.4% year over year.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and a $213.96 target price; Chevron also pays an annualized $7.12 dividend, yielding about 3.1%.

Chevron Corporation (NYSE:CVX - Free Report) - Research analysts at Erste Group Bank raised their FY2027 earnings per share (EPS) estimates for Chevron in a report issued on Wednesday, October 21st. Erste Group Bank analyst H. Engel now forecasts that the oil and gas company will post earnings of $15.35 per share for the year, up from their prior estimate of $13.78. The consensus estimate for Chevron's current full-year earnings is $18.20 per share.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%. The business had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. During the same period in the prior year, the company posted $1.77 EPS. The business's quarterly revenue was up 57.4% on a year-over-year basis.

A number of other equities analysts have also recently commented on the company. Argus increased their target price on Chevron from $206.00 to $211.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. UBS Group raised their target price on Chevron from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Thursday, October 8th. Dbs Bank raised Chevron to a "moderate buy" rating in a research note on Thursday, August 6th. Weiss Ratings upgraded Chevron from a "buy (b)" rating to a "buy (b+)" rating in a research report on Friday, October 16th. Finally, Mizuho set a $234.00 price target on Chevron in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $213.96.

Chevron Trading Up 0.1%

Shares of Chevron stock opened at $233.39 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Chevron has a twelve month low of $146.49 and a twelve month high of $233.74. The firm has a market capitalization of $461.13 billion, a PE ratio of 22.38, a P/E/G ratio of 0.55 and a beta of 0.53. The firm's 50-day moving average price is $210.61 and its 200 day moving average price is $194.35.

Chevron Dividend Announcement

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

Insider Buying and Selling

In related news, 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 transaction of $63,565,866.00. Following the transaction, the chief executive officer owned 26,308 shares in the company, valued at approximately $5,273,701.68. This trade represents a 92.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Andrew Walz sold 16,800 shares of the business's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the transaction, the insider directly owned 14 shares in the company, valued at $2,814.84. This trade represents a 99.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,195,682 shares of company stock valued at $235,619,780 over the last ninety days. 0.56% of the stock is currently owned by company insiders.

Institutional Trading of Chevron

Large investors have recently added to or reduced their stakes in the stock. Blue Capital Inc. acquired a new position in shares of Chevron in the 2nd quarter worth approximately $786,000. OneAscent Wealth Management LLC purchased a new position in shares of Chevron during the 2nd quarter worth approximately $973,000. Global Retirement Partners LLC purchased a new position in shares of Chevron during the 2nd quarter worth approximately $14,276,000. Greg Jennings LLC acquired a new stake in Chevron in the 3rd quarter valued at approximately $1,314,000. Finally, Ferguson Wellman Capital Management Inc. increased its holdings in Chevron by 0.6% in the 3rd 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. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Crude oil prices have climbed above $110 per barrel amid heightened Iran and Middle East supply concerns, improving the earnings and cash-flow outlook for Chevron’s upstream business. Chevron Stock Moves Higher: What's Going On?
• Positive Sentiment: Investors are positioning for next week’s earnings report, with analysts expecting year-over-year earnings growth and a potential consensus beat. Erste Group also raised its 2026 EPS forecast to $17.63 from $16.90, although that remains below the broader $18.12 consensus estimate. Chevron Earnings Expected to Grow
• Positive Sentiment: Chevron plans to apply its successful Permian Basin operating approach to Argentina’s Vaca Muerta shale region and reportedly expects to invest approximately $13.8 billion to accelerate production. The project could provide a long-term production-growth catalyst, though execution and political risks remain. Chevron uses Permian playbook in Argentina
• Positive Sentiment: Chevron is in exclusive preliminary talks to operate Iraq’s West Qurna 2 field, where output could potentially double under a future development plan. The opportunity would expand production but is not yet a finalized transaction. Chevron Eyes Iraq’s West Qurna 2 Field
• Positive Sentiment: Unusually high call-option activity and comparisons favoring CVX over ExxonMobil are reinforcing bullish sentiment, with analysts citing stronger free cash flow, cost savings and projected 2026 earnings growth.
• Neutral Sentiment: Chevron is reportedly considering a roughly $1 billion sale of mature Gulf of Mexico assets to concentrate capital on newer offshore and international growth projects. The strategy could improve portfolio efficiency, but proceeds and valuation are still uncertain. Chevron Eyes $1B Gulf Asset Sale
• Negative Sentiment: Insider R. Hewitt Pate sold 43,100 shares in two transactions. The sales were conducted under a pre-arranged Rule 10b5-1 plan, limiting their bearish significance, but the large reduction in ownership could weigh modestly on sentiment. Chevron insider trading filing

About Chevron

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.

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