FY2026 EPS Estimates for Chevron Boosted by Erste Group Bank

Key Points

• Erste Group Bank raised Chevron’s FY2026 EPS forecast to $17.63 from $16.90, though it remains below the $18.12 analyst consensus.
• Chevron maintains a favorable Wall Street outlook, with a consensus “Moderate Buy” rating and an average price target of $213.96; several analysts recently raised their targets or upgraded the stock.
• The company reported strong quarterly results, beating EPS and revenue estimates, while paying a $1.78 quarterly dividend. However, insiders sold roughly $235.6 million of shares over the past three months.

Chevron Corporation (NYSE:CVX - Free Report) - Equities researchers at Erste Group Bank increased their FY2026 earnings per share (EPS) estimates for shares of Chevron in a note issued to investors on Wednesday, October 21st. Erste Group Bank analyst H. Engel now forecasts that the oil and gas company will post earnings of $17.63 per share for the year, up from their previous estimate of $16.90. The consensus estimate for Chevron's current full-year earnings is $18.12 per share.

Several other research analysts also recently weighed in on CVX. Jefferies Financial Group lifted their target price on Chevron from $216.00 to $233.00 and gave the company a "buy" rating in a research note on Monday, August 17th. Argus lifted their target price on shares of Chevron from $206.00 to $211.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. Weiss Ratings upgraded shares of Chevron from a "buy (b)" rating to a "buy (b+)" rating in a research note on Friday, October 16th. HSBC set a $90.00 price target on shares of Chevron in a report on Friday, September 25th. Finally, Wall Street Zen upgraded shares of Chevron from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Chevron presently has a consensus rating of "Moderate Buy" and an average target price of $213.96.

Chevron Price Performance

Shares of NYSE:CVX opened at $226.65 on Friday. Chevron has a 12 month low of $146.49 and a 12 month high of $229.04. The firm has a market capitalization of $447.80 billion, a P/E ratio of 21.73, a P/E/G ratio of 0.54 and a beta of 0.53. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The company's fifty day moving average price is $209.95 and its 200 day moving average price is $194.11.

Chevron (NYSE:CVX - Get Free Report) last released 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 firm had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. During the same period last year, the business posted $1.77 earnings per share. Chevron's revenue was up 57.4% compared to the same quarter last year.

Hedge Funds Weigh In On Chevron

Institutional investors have recently modified their holdings of the company. State Street Corp increased its stake in shares of Chevron by 3.9% during the 2nd 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 acquiring an additional 5,998,852 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Chevron in the second quarter worth approximately $25,663,729,000. Bank of America Corp DE grew its holdings in Chevron by 5.1% in the first 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 purchasing an additional 1,334,976 shares during the period. Bank of New York Mellon Corp purchased a new stake in Chevron in the second quarter valued at approximately $2,378,114,000. Finally, Amundi grew its holdings in Chevron by 14.1% in the second quarter. Amundi now owns 13,900,271 shares of the oil and gas company's stock valued at $2,304,109,000 after purchasing an additional 1,714,835 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 100,000 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total value of $19,426,000.00. Following the sale, the director owned 178,045 shares of the company's stock, valued at approximately $34,587,021.70. This represents a 35.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael K. Wirth sold 317,100 shares of the company's stock in a transaction 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 owned 26,308 shares in the company, valued at $5,273,701.68. This represents a 92.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,195,682 shares of company stock valued at $235,619,780 over the last three months. Company insiders own 0.56% of the company's stock.

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 issued a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Wednesday, August 19th. Chevron's dividend payout ratio is 68.26%.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is in preliminary talks with Iraq’s Oil Ministry to take over operatorship of the West Qurna 2 supergiant oil field from Lukoil. Iraqi officials see potential to double production, which could create a significant long-term growth opportunity if negotiations are completed. Chevron considers West Qurna 2 opportunity
• Positive Sentiment: Chevron is applying its Permian Basin operating approach to Argentina’s Vaca Muerta shale region. Improving drilling and completion efficiency could help unlock additional production and enhance the value of the company’s assets there. Chevron applies Permian strategy in Argentina
• Positive Sentiment: Bank of America raised its Chevron price target to $252 from $227, signaling improved confidence in the company’s earnings and cash-flow prospects. Bank of America raises Chevron price target
• Positive Sentiment: Chevron is considering a roughly $1 billion sale of mature U.S. Gulf of Mexico assets. Divesting older properties could streamline the portfolio, release capital for newer offshore projects and support production growth, although final terms remain uncertain. Chevron considers Gulf asset sale
• Neutral Sentiment: Investors are focused on Chevron’s upcoming earnings report, expected Friday, to determine whether higher oil prices and recent operating developments are translating into stronger production, revenue and cash flow. Chevron earnings expected Friday
• Neutral Sentiment: Chevron announced executive changes, including Jeff Gustavson becoming CFO while Eimear Bonner moves to lead oil, products and gas. The changes may influence execution but do not immediately alter the company’s fundamentals. Chevron leadership changes
• Negative Sentiment: Director R. Hewitt Pate sold 43,100 CVX shares worth approximately $9.8 million in two transactions. The sales were conducted under a pre-arranged Rule 10b5-1 plan, reducing their value as a discretionary bearish signal, but the substantial ownership reduction may weigh modestly on sentiment. Chevron insider sales 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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