FY2026 EPS Estimates for Chevron Boosted by Erste Group Bank

Key Points

• Erste Group Bank raised Chevron’s FY2026 EPS forecast to $16.90 from $16.09, though it remains below the broader consensus estimate of $17.34. The firm projects FY2027 EPS of $13.78.
• Chevron recently exceeded quarterly expectations, reporting $6.06 EPS versus the $5.55 consensus and $67.20 billion in revenue, up 57.4% year over year.
• Analyst sentiment remains favorable, with Chevron carrying a “Moderate Buy” consensus rating and an average price target of $213.08, while the company maintains a quarterly dividend of $1.78 per share, yielding about 3.3%.

Chevron Corporation (NYSE:CVX - Free Report) - Research analysts at Erste Group Bank raised their FY2026 earnings per share estimates for Chevron in a note issued to investors on Thursday, October 8th. Erste Group Bank analyst H. Engel now forecasts that the oil and gas company will post earnings per share of $16.90 for the year, up from their prior estimate of $16.09. The consensus estimate for Chevron's current full-year earnings is $17.34 per share. Erste Group Bank also issued estimates for Chevron's FY2027 earnings at $13.78 EPS.

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 (EPS) 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 business had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same quarter last year, the firm earned $1.77 EPS. Chevron's revenue for the quarter was up 57.4% compared to the same quarter last year.

Other analysts have also issued research reports about the stock. Morgan Stanley boosted their price objective on shares of Chevron from $210.00 to $218.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 19th. BMO Capital Markets raised their target price on shares of Chevron from $210.00 to $235.00 and gave the company an "outperform" rating in a research report on Thursday, September 3rd. Wall Street Zen upgraded shares of Chevron from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Royal Bank Of Canada boosted their price target on shares of Chevron from $220.00 to $230.00 and gave the stock an "outperform" rating in a research report on Thursday, September 24th. Finally, Dbs Bank upgraded shares of Chevron to a "moderate buy" rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Chevron has an average rating of "Moderate Buy" and an average price target of $213.08.

Chevron Price Performance

Shares of CVX opened at $214.89 on Tuesday. The stock has a market capitalization of $424.57 billion, a P/E ratio of 20.60, a P/E/G ratio of 0.59 and a beta of 0.53. Chevron has a twelve month low of $146.49 and a twelve month high of $217.78. The company has a 50 day moving average of $204.94 and a 200-day moving average of $193.04. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. State Street Corp raised its stake in Chevron by 3.9% in 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 in the last quarter. BlackRock Inc. bought a new position in Chevron in the 2nd quarter valued at about $25,663,729,000. Berkshire Hathaway Inc increased its holdings in Chevron by 6.6% in 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 buying an additional 8,091,570 shares during the period. Bank of America Corp DE increased its holdings in Chevron by 5.1% in the 1st quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company's stock valued at $5,716,694,000 after buying an additional 1,334,976 shares during the period. Finally, Invesco Ltd. raised its position in shares of Chevron by 1.5% in the 4th quarter. Invesco Ltd. now owns 17,119,575 shares of the oil and gas company's stock valued at $2,609,194,000 after buying an additional 254,323 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Insiders Place Their Bets

In other Chevron news, insider Andrew Walz sold 16,800 shares of the company's stock in a transaction that occurred 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 sale, the insider owned 14 shares in the company, valued at $2,814.84. This represents a 99.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Wirth sold 317,100 shares of the firm'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 sale, the chief executive officer directly 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,152,582 shares of company stock worth $225,853,661 over the last ninety days. 0.56% of the stock is currently owned by corporate insiders.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, August 19th. Chevron's payout ratio is 68.26%.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was added to Zacks’ Rank #1 (Strong Buy) income-stocks list, reinforcing the appeal of its dividend and operating outlook. Best Income Stocks to Buy for October 13th
• Positive Sentiment: TD Cowen raised its Chevron price target from $215 to $225 while maintaining a Hold rating. The higher target reflects potential upside supported by production growth, cost savings and cash flow. Chevron Stock Gets Price Target Increase from TD Cowen
• Positive Sentiment: Chevron and Egypt are advancing discussions surrounding Cyprus’ Aphrodite gas field and pipeline, including commercial agreements, long-lead procurement and a potential final investment decision. Progress could create a longer-term international gas-growth catalyst. Chevron and Egypt Discuss Next Steps for Aphrodite Gas Pipeline
• Positive Sentiment: Analysts continue to cite Chevron’s strong cash flow, expanding production, cost reductions, Hess integration and upbeat 2026 earnings expectations. The stock has outperformed the broader energy industry over recent months. CVX Outpaces Industry in Past 6 Months
• Neutral Sentiment: Chevron’s planned January 2027 leadership changes will make Jeff Gustavson CFO and move current CFO Eimear Bonner to lead Oil, Products & Gas. The restructuring ties New Energies more closely to the core business, but execution risks remain. Chevron CFO Shake-Up
• Negative Sentiment: Hurricane-related shutdowns temporarily disrupted U.S. Gulf oil production, although Chevron and other major producers are restoring output. The interruption could weigh on near-term volumes and earnings. U.S. Gulf Oil Production Restored After Hurricane
• Negative Sentiment: Chevron’s CEO warned that restrictions on diesel and fuel exports could backfire, potentially tightening regional supply and creating unfavorable market distortions. Separately, the average reported price target of $213.08 is slightly below the stock’s opening price, suggesting limited consensus upside. Chevron CEO Warns Against Diesel and Fuel Export Decision

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.

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