Erste Group Bank Increases Earnings Estimates for Chevron

Key Points

• Erste Group Bank raised Chevron’s FY2026 EPS estimate to $16.09 from $15.94 and forecast FY2027 EPS of $13.52, though the FY2026 estimate remains below the $16.51 analyst consensus.
• Analyst sentiment is broadly positive: 20 analysts rate Chevron a Buy, five rate it Hold and one rates it Sell, producing a consensus “Moderate Buy” rating and an average price target of $211.35.
• Chevron reported quarterly EPS of $6.06, beating expectations, while revenue rose 57.4% year over year to $67.2 billion. The company also maintains a $1.78 quarterly dividend, equivalent to a 3.5% annual yield.

Chevron Corporation (NYSE:CVX - Free Report) - Investment analysts at Erste Group Bank boosted their FY2026 earnings per share (EPS) estimates for Chevron in a note issued to investors on Friday, September 18th. Erste Group Bank analyst H. Engel now forecasts that the oil and gas company will earn $16.09 per share for the year, up from their previous forecast of $15.94. The consensus estimate for Chevron's current full-year earnings is $16.51 per share. Erste Group Bank also issued estimates for Chevron's FY2027 earnings at $13.52 EPS.

Several other analysts also recently commented on the stock. Wall Street Zen upgraded shares of Chevron from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Piper Sandler upped their price objective on shares of Chevron from $207.00 to $243.00 and gave the stock an "overweight" rating in a research report on Thursday, September 3rd. Weiss Ratings upgraded shares of Chevron from a "hold (c)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. BMO Capital Markets lifted their target price on shares of Chevron from $210.00 to $235.00 and gave the stock an "outperform" rating in a research report on Thursday, September 3rd. Finally, Barclays cut their target price on Chevron from $216.00 to $208.00 and set an "equal weight" rating on the stock in a research note on Monday, August 17th. Twenty investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $211.35.

Chevron Trading Down 2.7%

NYSE CVX opened at $203.76 on Tuesday. 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 business has a fifty day simple moving average of $199.83 and a 200 day simple moving average of $191.85. Chevron has a 12 month low of $146.49 and a 12 month high of $217.78. The firm has a market capitalization of $402.58 billion, a P/E ratio of 19.54, a PEG ratio of 0.61 and a beta of 0.50.

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

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were given a $1.78 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $7.12 annualized dividend and a yield of 3.5%. Chevron's payout ratio is currently 68.26%.

Insider Activity at Chevron

In related news, insider R. Pate sold 2,470 shares of Chevron stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total value of $506,621.70. Following the sale, the insider owned 10,794 shares of the company's stock, valued at approximately $2,213,957.34. The trade was a 18.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael K. Wirth sold 317,100 shares of the company's stock in a transaction that occurred on Friday, August 14th. The shares were 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 in the company, valued at approximately $5,273,701.68. The trade was a 92.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,152,582 shares of company stock valued at $225,853,661 in the last three months. Insiders own 0.56% of the company's stock.

Institutional Trading of Chevron

Several hedge funds have recently made changes to their positions in CVX. Security National Bank of Sioux City Iowa IA bought a new position in shares of Chevron during the 2nd quarter worth $130,000. Bullseye Investment Management LLC purchased a new stake in Chevron during the second quarter valued at about $255,000. Keystone Financial Planning Inc. boosted its position in Chevron by 228.8% during the second quarter. Keystone Financial Planning Inc. now owns 81,844 shares of the oil and gas company's stock worth $13,566,000 after purchasing an additional 56,954 shares during the period. Rench Wealth Management Inc. boosted its position in Chevron by 0.8% during the second quarter. Rench Wealth Management Inc. now owns 33,778 shares of the oil and gas company's stock worth $5,599,000 after purchasing an additional 252 shares during the period. Finally, Miramontes Capital LLC increased its stake in shares of Chevron by 3.9% in the second quarter. Miramontes Capital LLC now owns 15,410 shares of the oil and gas company's stock worth $2,554,000 after purchasing an additional 581 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Analysts raised earnings estimates. Erste Group Bank increased its Chevron EPS forecasts to $16.09 for fiscal 2026 and $13.52 for fiscal 2027, modestly improving its outlook for the company. Chevron analyst earnings estimates
• Positive Sentiment: Venezuela operations could support production growth. Chevron plans to more than double the number of rigs it operates in Venezuela over the next five years. Increasing Venezuelan oil imports and Chevron’s position in the country could provide additional production and feedstock opportunities, subject to U.S. policy and operating conditions. Chevron expands Venezuela drilling
• Positive Sentiment: Chevron is emphasizing LNG growth. Management’s increased focus on liquefied natural gas reflects expectations for rising global demand and offers longer-term diversification beyond crude oil. Chevron and ExxonMobil LNG strategy
• Neutral Sentiment: Chevron plans to drill more wells next year. The exploration and production expansion could lift future output, but it may also require higher capital spending and depends on commodity prices. Chevron plans more wells
• Negative Sentiment: Lower oil prices are the primary near-term pressure. The decline in crude prices is weighing on the outlook for Chevron’s upstream earnings and appears to be the main reason the stock has decreased even as major market indexes advanced. Why Chevron stock is falling

Chevron Company Profile

Chevron Corporation is an integrated energy company engaged in the exploration, production, transportation and sale of crude oil and natural gas. The company also manufactures and markets transportation fuels, lubricants, petrochemicals and additives through operations and brands that include Chevron, Texaco and Caltex.

Chevron's upstream activities include oil and natural gas exploration and production, while its downstream business includes refining, fuel marketing, transportation and related energy services.

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