Chevron (NYSE:CVX) Releases Earnings Results, Beats Estimates By $0.08 EPS

Chevron (NYSE:CVX) released its quarterly earnings data on Friday. The oil and gas company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.44 by $0.08, FiscalAI reports. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The company had revenue of $45.79 billion for the quarter, compared to analysts’ expectations of $48.18 billion. During the same period last year, the firm posted $2.06 earnings per share. Chevron’s revenue was down 10.2% compared to the same quarter last year.

Here are the key takeaways from Chevron’s conference call:

• Chevron reported record production and major project ramp‑ups, citing the Tengiz Future Growth Project (+260,000 b/d), startups at Ballymore and Whale, Anchor ramp‑up, and a Permian above 1,000,000 b/d, supporting an expected ~7–10% production increase in 2026 (ex‑asset sales).
• Financial strength — adjusted free cash flow was ~$20 billion for 2025 (up >35% YoY excluding asset sales), the company repurchased $3 billion in Q4 and raised the quarterly dividend by 4%.
• Cost and capital discipline — the structural cost program delivered $1.5 billion in 2025 with a >$2 billion run rate and a new target of $3–4 billion by end‑2026, while portfolio high‑grading drove a dividend/CapEx breakeven below $50 Brent.
• Venezuela update — Chevron says its joint‑venture operations have increased gross production to ~250,000 b/d since 2022 via a venture‑funded model and could expand up to 50% in 18–24 months, but further growth depends on U.S. authorizations and fiscal/regulatory clarity.
• Operational disruption at TCO — a temporary power distribution issue forced safe recycle and partial downtime; production has resumed and the company expects most capacity back within weeks, though the event highlights operational risk despite unchanged $6 billion 2026 TCO FCF guidance at $70 Brent.

Chevron Stock Performance

NYSE CVX traded up $2.39 on Friday, reaching $173.58. 7,450,334 shares of the stock were exchanged, compared to its average volume of 12,420,428. The firm has a market capitalization of $349.51 billion, a PE ratio of 24.40, a PEG ratio of 11.83 and a beta of 0.70. Chevron has a one year low of $132.04 and a one year high of $174.92. The company’s 50-day simple moving average is $155.87 and its two-hundred day simple moving average is $155.24. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CVX. Wall Street Zen downgraded shares of Chevron from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, January 21st. Wells Fargo & Company lifted their target price on shares of Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Morgan Stanley decreased their target price on shares of Chevron from $180.00 to $174.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Finally, Sanford C. Bernstein raised their price target on Chevron from $170.00 to $172.00 and gave the stock a “market perform” rating in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Chevron presently has an average rating of “Hold” and an average target price of $170.00.

Insider Activity

In other news, CFO Eimear P. Bonner sold 28,334 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $165.05, for a total transaction of $4,676,526.70. Following the sale, the chief financial officer directly owned 4,366 shares in the company, valued at $720,608.30. This trade represents a 86.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the transaction, the director directly owned 1,128,045 shares of the company’s stock, valued at $170,052,783.75. This represents a 19.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 635,190 shares of company stock valued at $100,254,408. 0.21% of the stock is currently owned by company insiders.

Institutional Trading of Chevron

Several institutional investors have recently made changes to their positions in CVX. Turning Point Benefit Group Inc. purchased a new position in Chevron in the 3rd quarter worth approximately $49,000. Wiser Advisor Group LLC purchased a new position in shares of Chevron in the third quarter worth $57,000. BNP Paribas lifted its holdings in shares of Chevron by 76.4% in the second quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock worth $63,000 after buying an additional 191 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of Chevron during the third quarter worth $100,000. Finally, Darwin Wealth Management LLC purchased a new position in Chevron during the second quarter valued at $109,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Q4 adjusted EPS beat expectations — Chevron reported $1.52 adjusted EPS versus ~$1.44 expected, a beat that reassured investors on near-term profitability. Article Title
• Positive Sentiment: Record production and upbeat 2026 outlook — management flagged record 2025 production, strong contributions from Hess assets (Guyana/Bakken), Tengiz and U.S. Gulf projects, and guided 7–10% production growth at $60/bbl Brent, supporting better free cash flow prospects. Article Title
• Positive Sentiment: Venezuela opportunity accelerating — CEO Mike Wirth said Venezuela is taking steps to protect private oil investment after recent political changes; reports also indicate talks to expand Chevron’s Venezuela license and plans to raise Venezuelan exports (to ~300k bpd), creating a material upside path. Article Title
• Positive Sentiment: Dividend raise and shareholder returns — Chevron increased its quarterly dividend to $1.78 and returned record capital to shareholders in 2025 (dividends + buybacks), a supportive signal for income-focused investors. Article Title
• Neutral Sentiment: Cost discipline and cash flow resiliency — management highlighted structural cost savings and a low dividend breakeven under current plans, which supports stability even if oil prices remain muted. Article Title
• Negative Sentiment: Revenue miss and year-over-year profit decline — revenue fell short of estimates ($45.79B vs. ~$48.2B expected) and full-quarter earnings are down vs. a year earlier, reflecting lower oil prices — a reminder of earnings sensitivity to commodity moves. Article Title
• Negative Sentiment: Venezuela policy and capital uncertainty — despite upside, Chevron is keeping a cap on Venezuela spending for now and geopolitical/policy risks remain high; outcomes depend on U.S. licensing and local reforms. Article Title

Chevron Company Profile

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.