What is Scotiabank's Estimate for Chevron FY2026 Earnings?

Key Points

• Scotiabank raised Chevron’s FY2026 EPS estimate to $14.65 from $13.15, while keeping a Sector Perform rating and a $187 price target on the stock.
• Chevron’s latest quarter was mixed: EPS of $1.41 beat expectations, but revenue of $47.56 billion fell short of the $51.86 billion consensus estimate.
• The company also announced a quarterly dividend of $1.78 per share, payable June 10, for an annualized yield of about 3.7%.

Chevron Corporation (NYSE:CVX - Free Report) - Stock analysts at Scotiabank lifted their FY2026 earnings per share estimates for shares of Chevron in a research report issued to clients and investors on Thursday, May 14th. Scotiabank analyst B. Zhang now expects that the oil and gas company will post earnings of $14.65 per share for the year, up from their previous estimate of $13.15. Scotiabank has a "Sector Perform" rating and a $187.00 price objective on the stock. The consensus estimate for Chevron's current full-year earnings is $15.43 per share. Scotiabank also issued estimates for Chevron's FY2027 earnings at $12.50 EPS.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data 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 return on equity of 6.90% and a net margin of 5.79%.The firm had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. During the same quarter in the previous year, the company posted $2.18 EPS. The business's revenue for the quarter was up 2.1% compared to the same quarter last year.

A number of other research firms also recently weighed in on CVX. Tudor Pickering upgraded Chevron from a "hold" rating to a "buy" rating and set a $225.00 target price for the company in a research report on Thursday, April 9th. HSBC upgraded Chevron from a "hold" rating to a "buy" rating and set a $215.00 target price for the company in a research report on Friday, March 20th. Morgan Stanley boosted their target price on Chevron from $174.00 to $212.00 and gave the stock an "overweight" rating in a research report on Friday, March 27th. TD Cowen boosted their target price on Chevron from $204.00 to $205.00 and gave the stock a "hold" rating in a research report on Friday, May 8th. Finally, Argus set a $203.00 target price on Chevron in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $204.13.

Chevron Trading Down 0.1%

Shares of CVX opened at $190.91 on Monday. The stock has a fifty day moving average price of $193.14 and a two-hundred day moving average price of $173.38. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. Chevron has a 52-week low of $133.77 and a 52-week high of $214.71. The company has a market cap of $380.22 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 0.64 and a beta of 0.51.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be given a dividend of $1.78 per share. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.7%. Chevron's payout ratio is presently 123.40%.

Insider Buying and Selling at Chevron

In related news, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the sale, the insider directly owned 8,638 shares of the company's stock, valued at $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael K. Wirth sold 272,624 shares of Chevron stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $189.35, for a total value of $51,621,354.40. Following the sale, the chief executive officer directly owned 31,266 shares of the company's stock, valued at approximately $5,920,217.10. This trade represents a 89.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 803,570 shares of company stock valued at $151,969,798 over the last quarter. 0.56% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chevron

A number of institutional investors have recently made changes to their positions in CVX. Midwest Capital Advisors LLC acquired a new stake in shares of Chevron during the first quarter worth $25,000. Core Wealth Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter worth $26,000. Phillip James Consulting Co. acquired a new stake in shares of Chevron during the fourth quarter worth $26,000. Basso Capital Management L.P. acquired a new stake in shares of Chevron during the fourth quarter worth $27,000. Finally, Karpus Management Inc. acquired a new stake in shares of Chevron during the fourth quarter worth $27,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to sell its Singapore refining stake and other Asia-Pacific downstream assets to ENEOS for roughly $2.17 billion, reinforcing its strategy to streamline the portfolio and potentially improve returns. Reuters article on ENEOS buying Chevron assets
• Positive Sentiment: Another report framed Chevron’s recent earnings as less weak than the headline numbers suggested, noting that the company’s share price did not fall sharply after the results, which may indicate investors are focusing on underlying cash generation and strategic actions rather than the revenue miss. Yahoo Finance article on Chevron earnings
• Neutral Sentiment: Market commentary this week also compared Chevron with TotalEnergies and discussed broader oil-sector themes, but those pieces were more about sector positioning than a direct new fundamental change for Chevron. Motley Fool comparison article
• Negative Sentiment: Chevron’s latest quarter was mixed, with earnings per share beating estimates but revenue coming in below expectations, which could temper enthusiasm if investors refocus on operating performance rather than asset sales. Chevron stock background

About Chevron

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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