B. Metzler seel. Sohn & Co. AG purchased a new position in shares of Chevron Corporation (NYSE:CVX – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 62,313 shares of the oil and gas company’s stock, valued at approximately $10,329,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CVX. Kayne Anderson Capital Advisors LP bought a new position in shares of Chevron during the second quarter worth approximately $11,977,000. NFJ Investment Group LLC bought a new stake in shares of Chevron in the second quarter valued at about $13,461,000. Bernicke Wealth Management Ltd. grew its stake in shares of Chevron by 0.9% in the second quarter. Bernicke Wealth Management Ltd. now owns 10,805 shares of the oil and gas company’s stock valued at $1,791,000 after acquiring an additional 95 shares in the last quarter. Silvant Capital Management LLC acquired a new position in shares of Chevron in the second quarter valued at about $433,000. Finally, LaSalle St. Investment Advisors LLC bought a new position in Chevron during the second quarter worth about $1,043,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.
Key Headlines Impacting Chevron Here are the key news stories impacting Chevron this week:
Positive Sentiment: Brent crude recently approached $94–$95 per barrel amid renewed Middle East tensions and concerns about Strait of Hormuz disruptions. Sustained higher oil prices typically benefit Chevron’s upstream revenue, margins and cash flow. Chevron jumps as Brent crude approaches $94 Positive Sentiment: Chevron confirmed an oil and gas condensate discovery at the 105-4X well in offshore Angola. Its proximity to existing facilities could allow a lower-cost tie-back, creating a potential source of future production. Chevron Angola discovery analysis Positive Sentiment: Chevron’s $1.78 quarterly dividend, equal to $7.12 annually and an approximately 3.5% yield, reinforces its appeal to income investors. The company also recently exceeded quarterly earnings and revenue expectations. Chevron raises dividend Neutral Sentiment: Analysis comparing Chevron with Exxon Mobil highlights differing long-term strategies, including Chevron’s continued emphasis on oil and gas. The approach could benefit from strong commodity prices but leaves CVX more exposed to future oil-demand and price cycles. Chevron versus Exxon Mobil analysis Negative Sentiment: Iraq plans to more than double its oil output over the next six years. If achieved, the added supply could pressure global crude prices and reduce the earnings benefit Chevron receives from today’s elevated prices. Iraq oil output and Chevron Negative Sentiment: Two Chevron insiders sold shares recently: Andrew Benjamin Walz sold 16,800 shares, while R. Hewitt Pate sold 2,470 shares. Although such transactions may reflect personal financial planning, they can create a modest sentiment overhang. Chevron insider sale report Negative Sentiment: A separate analysis says concerns remain centered on Chevron, including issues surrounding its Hess Midstream exposure and broader execution risks. The report may temper enthusiasm after CVX’s recent advance. Hess Midstream: The Issue Remains With Chevron Analyst Upgrades and Downgrades A number of analysts have issued reports on CVX shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $220.00 price objective on shares of Chevron in a report on Tuesday, May 5th. Weiss Ratings upgraded shares of Chevron from a “hold (c)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Barclays cut their price target on Chevron from $216.00 to $208.00 and set an “equal weight” rating for the company in a research note on Monday. Dbs Bank raised Chevron to a “moderate buy” rating in a research report on Thursday, August 6th. Finally, Morgan Stanley raised their price objective on Chevron from $210.00 to $218.00 and gave the stock an “overweight” rating in a research note on Wednesday. Twenty equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $207.48. Read Our Latest Stock Report on Chevron
Chevron Stock Performance Shares of CVX stock opened at $205.25 on Friday. The stock has a market capitalization of $405.53 billion, a PE ratio of 19.68, a PEG ratio of 0.62 and a beta of 0.49. The business’s 50 day simple moving average is $185.03 and its 200 day simple moving average is $188.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71.
Chevron (NYSE:CVX – Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. The firm had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The company’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.77 EPS. As a group, research analysts forecast that Chevron Corporation will post 16.17 earnings per share for the current year.
Chevron Dividend Announcement The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 68.26%.
Insider Activity at Chevron In other Chevron news, Director John B. Hess sold 100,000 shares of Chevron stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $194.26, for a total value of $19,426,000.00. Following the completion of the sale, the director directly owned 178,045 shares of the company’s stock, valued at approximately $34,587,021.70. The trade was a 35.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew Benjamin Walz sold 16,800 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the transaction, the insider owned 14 shares in the company, valued at $2,814.84. This represents a 99.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,152,582 shares of company stock valued at $225,853,661. Company insiders own 0.56% of the company’s stock.
Chevron Company Profile (Free Report)
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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Allworth Financial LP ve 2. čtvrtletí nově nakoupila 367 543 akcií Chevron za zhruba 60,9 milionu USD. Chevron zároveň oznámil EPS 6,06 USD a tržby 67,20 miliardy USD, obojí nad odhady.
Allworth Financial LP purchased a new position in Chevron Corporation (NYSE:CVX – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 367,543 shares of the oil and gas company’s stock, valued at approximately $60,924,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. United Bank raised its position in shares of Chevron by 7.7% in the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock worth $1,586,000 after buying an additional 796 shares during the period. Schnieders Capital Management LLC. increased its stake in Chevron by 9.0% during the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock worth $7,280,000 after acquiring an additional 4,214 shares during the last quarter. BNP Paribas increased its stake in Chevron by 76.4% during the second quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock worth $63,000 after acquiring an additional 191 shares during the last quarter. Osterweis Capital Management Inc. raised its holdings in shares of Chevron by 678.9% in the 2nd quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock worth $195,000 after purchasing an additional 1,188 shares during the period. Finally, Main Street Financial Solutions LLC raised its holdings in shares of Chevron by 3.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock worth $2,299,000 after purchasing an additional 553 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.
Chevron Price Performance Shares of NYSE:CVX opened at $205.25 on Friday. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71. The stock has a market cap of $405.53 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 0.62 and a beta of 0.49. The stock’s 50 day moving average price is $185.03 and its 200 day moving average price is $188.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98.
Chevron (NYSE:CVX – Get Free Report) last issued its quarterly 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 company posted $1.77 EPS. The firm’s quarterly revenue was up 57.4% on a year-over-year basis. Equities research analysts anticipate that Chevron Corporation will post 16.17 earnings per share for the current fiscal year. Chevron Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 annualized dividend and a yield of 3.5%. Chevron’s dividend payout ratio (DPR) is currently 68.26%.
Wall Street Analysts Forecast Growth A number of analysts have recently weighed in on CVX shares. Mizuho set a $224.00 price target on shares of Chevron in a research report on Monday, August 3rd. Bank of America upped their price target on shares of Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Piper Sandler initiated coverage on shares of Chevron in a research note on Thursday, July 23rd. They set an “overweight” rating and a $207.00 price objective on the stock. UBS Group reissued a “buy” rating on shares of Chevron in a report on Tuesday, June 23rd. Finally, Barclays dropped their target price on shares of Chevron from $216.00 to $208.00 and set an “equal weight” rating for the company in a research report on Monday. Twenty equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $207.48.
View Our Latest Research Report on Chevron
Insider Transactions at Chevron In other Chevron news, Director John B. Hess sold 710,665 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.10, for a total value of $137,940,076.50. Following the completion of the sale, the director directly owned 363,711 shares of the company’s stock, valued at approximately $70,596,305.10. This represents a 66.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew Benjamin Walz sold 16,800 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the transaction, the insider owned 14 shares of the company’s stock, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,152,582 shares of company stock valued at $225,853,661 in the last three months. 0.56% of the stock is currently owned by insiders.
Key Headlines Impacting Chevron Here are the key news stories impacting Chevron this week:
Positive Sentiment: Brent crude recently approached $94–$95 per barrel amid renewed Middle East tensions and concerns about Strait of Hormuz disruptions. Sustained higher oil prices typically benefit Chevron’s upstream revenue, margins and cash flow. Chevron jumps as Brent crude approaches $94 Positive Sentiment: Chevron confirmed an oil and gas condensate discovery at the 105-4X well in offshore Angola. Its proximity to existing facilities could allow a lower-cost tie-back, creating a potential source of future production. Chevron Angola discovery analysis Positive Sentiment: Chevron’s $1.78 quarterly dividend, equal to $7.12 annually and an approximately 3.5% yield, reinforces its appeal to income investors. The company also recently exceeded quarterly earnings and revenue expectations. Chevron raises dividend Neutral Sentiment: Analysis comparing Chevron with Exxon Mobil highlights differing long-term strategies, including Chevron’s continued emphasis on oil and gas. The approach could benefit from strong commodity prices but leaves CVX more exposed to future oil-demand and price cycles. Chevron versus Exxon Mobil analysis Negative Sentiment: Iraq plans to more than double its oil output over the next six years. If achieved, the added supply could pressure global crude prices and reduce the earnings benefit Chevron receives from today’s elevated prices. Iraq oil output and Chevron Negative Sentiment: Two Chevron insiders sold shares recently: Andrew Benjamin Walz sold 16,800 shares, while R. Hewitt Pate sold 2,470 shares. Although such transactions may reflect personal financial planning, they can create a modest sentiment overhang. Chevron insider sale report Negative Sentiment: A separate analysis says concerns remain centered on Chevron, including issues surrounding its Hess Midstream exposure and broader execution risks. The report may temper enthusiasm after CVX’s recent advance. Hess Midstream: The Issue Remains With Chevron Chevron Profile (Free Report)
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.
Further Reading Five stocks we like better than Chevron Blueprint for a Boom: SEC Clears the Crypto Runway Ross Stores Just Flipped the Off-Price Retail Story After TJX’s Marmaxx Miss Advance Auto Parts Plunged, But Its Turnaround Is Still Working Is Palo Alto Networks Priced for Perfection Again as AI Security Demand Accelerates?
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Irák chce během šesti let více než zdvojnásobit těžbu ropy na 8 až 10 milionů barelů denně a jedná o vyšší kvótu OPEC. To může výrazně posílit Chevron, který chce vstoupit do polí West Qurna 2 a Nassiriya.
Iraq has a bold ambition for its oil industry. The country recently sent a delegation to Saudi Arabia seeking a higher production quota from OPEC, aiming to boost its output to between 8 million and 10 million barrels per day (bpd) within the next six years. That's more than double the 4 million bpd it produced before the war with Iran slowed oil flows through the Strait of Hormuz.
This move could have a major impact on Chevron (CVX -0.03%), which recently signed memorandums of understanding (MOUs) with the Iraqi government to enter two oil fields in the country. Here's a look at the leading role Chevron could play in Iraq's oil resurgence.
Image source: The Motley Fool.
Chevron could be crucial to Iraq's plansLast month, Chevron signed MOUs with Iraq regarding the West Qurna 2 and Nassiriya oilfields. The first potential deal would see it assume operational control of one of the world's largest oil fields. West Qurna 2 currently produces 460,000 bpd, accounting for nearly 10% of Iraq's output and 0.5% of global supply. Iraq nationalized the field earlier this year due to U.S. sanctions on its previous operator (Russia's Lukoil). The field holds an estimated 13 billion barrels of oil. Iraq has previously stated that it wants to boost production in this field to between 750,000 and 800,000 bpd after Chevron takes over operations.
Meanwhile, Chevron initially signed an agreement in principle with Iraq for the Nassiriya project in 2025, which includes four exploration blocks and the development of producing fields. Nassiriya is a much smaller field today, but it has significant long-term growth potential. Iraq is targeting an initial production capacity of 600,000 bpd for this project within seven years of starting work.
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While Iraq has several state-owned oil companies, including Basra Oil Company, which is temporarily operating West Qurna 2, it needs assistance from major global oil companies to provide the technical expertise and capital required to develop its fields to their full potential. In addition to Chevron, fellow oil giants TotalEnergies and BP have also recently signed new deals with Iraq. Meanwhile, ConocoPhillips bought an interest in BP Energy Company of Kirkuk to help support the ongoing redevelopment of four large-scale producing fields in the Kirkuk region of Northern Iraq. These deals provide major oil companies with the opportunity to invest in one of the world's largest oil-producing countries.
Lots of promise and riskWhile Iraq had been producing 4 million bpd before the U.S. and Israel launched military strikes against Iran, its output cratered after Iran retaliated by attacking ships trying to pass through the Strait of Hormuz. At one point, its production tumbled to only 1.4 million bpd.
That's leading Chevron to simultaneously evaluate bypass pipeline options. While Chevron and its partners considered rebuilding an old pipeline system damaged by previous wars, that option no longer appears plausible. As a result, they would likely need to build a new pipeline through Syria, which would cost at least $15 billion and likely take four years to build. Even if built, the new pipeline likely wouldn't have enough initial capacity to handle all of Iraq's production, especially at double its pre-war level. That would leave Chevron with meaningful exposure to potential future disruptions to the Strait of Hormuz.
A higher risk, high-reward moveChevron is working to secure commercial terms with Iraq that would give it control of one of the world's largest oil fields and another one with significant potential. It would add another major long-term growth driver for the oil giant. However, this move adds risk as Iraq currently relies almost entirely on the Strait of Hormuz to export its oil. Still, given Chevron's broad global production base, this seems worth the risk because it's such a rare opportunity to add two potentially world-class resources to its portfolio. It would enhance the long-term investment case that already makes Chevron one of the top oil stocks to buy.
Bell & Brown Wealth Advisors ve 2. čtvrtletí koupila nový podíl v Chevronu: 30 707 akcií za zhruba 5,09 milionu USD. Chevron zároveň oznámil nález ropy a plynového kondenzátu u vrtu 105-4X v pobřežní Angole, v bloku 0.
Bell & Brown Wealth Advisors LLC purchased a new stake in shares of Chevron Corporation (NYSE:CVX – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 30,707 shares of the oil and gas company’s stock, valued at approximately $5,090,000. Chevron accounts for 1.5% of Bell & Brown Wealth Advisors LLC’s holdings, making the stock its 25th biggest position.
A number of other large investors have also added to or reduced their stakes in CVX. Midwest Capital Advisors LLC bought a new stake in shares of Chevron in the first quarter valued at $25,000. Core Wealth Advisors LLC bought a new position in shares of Chevron during the 4th quarter worth $26,000. Phillip James Consulting Co. bought a new position in shares of Chevron during the 4th quarter worth $26,000. Basso Capital Management L.P. bought a new position in shares of Chevron during the 4th quarter worth $27,000. Finally, Karpus Management Inc. purchased a new stake in Chevron in the 4th quarter worth about $27,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.
Chevron News Roundup Here are the key news stories impacting Chevron this week:
Positive Sentiment: Chevron announced an oil and gas condensate discovery at the 105-4X well in offshore Angola’s Block 0. The well encountered a hydrocarbon column exceeding 600 meters and more than 90 meters of net pay; its proximity to existing infrastructure could allow a relatively low-cost tie-back and support future production growth. Chevron Angola discovery article Positive Sentiment: Equinor agreed to acquire a 17.4% interest in Chevron-operated exploration licence PEL 90 offshore Namibia. The partnership shares exploration costs while Chevron retains operatorship, reducing financial exposure ahead of a planned 2026 drilling program in the Orange Basin. Equinor Namibia stake article Positive Sentiment: Traders purchased 62,675 CVX call options, roughly 45% above typical volume, signaling increased near-term bullish interest. Positive Sentiment: Chevron’s quarterly dividend of $1.78 per share is scheduled for September 10, representing a $7.12 annualized payout and an approximately 3.5% yield. The dividend supports CVX’s appeal to income-focused investors. Neutral Sentiment: Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $207.13, although the target implies limited upside from recent levels. Negative Sentiment: CEO Michael Wirth sold 317,100 shares for approximately $63.6 million, reducing his reported ownership by 92.34%. Another insider, Andrew Benjamin Walz, sold 16,800 shares for about $3.4 million. The transactions may weigh on sentiment, although insider sales can reflect personal or scheduled financial planning. Chevron insider filing Negative Sentiment: Recent weakness in oil prices remains a risk because lower commodity prices can reduce Chevron’s upstream revenue, earnings and cash flow. Chevron Stock Up 0.0% Shares of NYSE:CVX opened at $205.78 on Thursday. The firm has a fifty day moving average price of $184.27 and a two-hundred day moving average price of $187.75. The company has a market cap of $406.57 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 0.63 and a beta of 0.49. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71. Chevron (NYSE:CVX – Get Free Report) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.51. The firm had revenue of $67.20 billion for the quarter, compared to analysts’ expectations of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business’s quarterly revenue was up 57.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.77 earnings per share. Analysts anticipate that Chevron Corporation will post 15.86 EPS for the current fiscal year.
Chevron Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, August 19th. Chevron’s dividend payout ratio is presently 68.26%.
Insider Activity In other Chevron news, insider Andrew Benjamin Walz sold 16,800 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $201.06, for a total value of $3,377,808.00. Following the completion of the sale, the insider directly owned 14 shares of the company’s stock, valued at $2,814.84. The trade was a 99.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael K. Wirth sold 317,100 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 26,308 shares in the company, valued at $5,273,701.68. This trade represents a 92.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,150,112 shares of company stock worth $225,347,040. 0.56% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In CVX has been the topic of several research reports. TD Cowen boosted their price target on shares of Chevron from $200.00 to $205.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. Mizuho set a $224.00 price objective on shares of Chevron in a report on Monday, August 3rd. Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a research note on Thursday, July 2nd. UBS Group reissued a “buy” rating on shares of Chevron in a report on Tuesday, June 23rd. Finally, Dbs Bank upgraded Chevron to a “moderate buy” rating in a research report on Thursday, August 6th. Twenty analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $207.48.
Get Our Latest Analysis on Chevron
Chevron Profile (Free Report)
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.
Further Reading Five stocks we like better than Chevron Bloom Energy’s AI Surge Meets a Valuation Reality Check Target Is Winning Shoppers Back—Can the Rally Reach $180? IonQ’s Space Contract Points to a New Frontier for Quantum Investors Is Apple’s AI Strategy Smarter Than Skeptics Think? Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX – Free Report).
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Chevron (CVX +0.88%), one of the world's largest integrated energy companies, is often considered a boring stock. It's not as exposed to the AI-driven energy boom as natural gas and nuclear companies, and it pays a lower dividend than many top midstream companies.
But over the past 30 years, Chevron has delivered a total return (including reinvested dividends) of 1,940%, beating the S&P 500's 1,890% return. It pays a forward yield of 3.5%, has raised its dividend annually for 39 consecutive years, and will become a Dividend King if it maintains that streak for 50 years. Its low trailing payout ratio of 67% gives it ample room for future hikes. Let's see why Chevron could still be a great income play for long-term investors.
Image source: Getty Images.
Why is Chevron a well-rounded stock? Chevron owns upstream extraction and downstream refining businesses. It also operates midstream pipelines, but that's a "captive" business that only connects its own upstream and downstream businesses rather than serving other energy companies.
When oil prices rise, upstream businesses flourish as their revenue growth outpaces their expenses, but downstream businesses often struggle with higher input costs. But when oil prices decline, downstream businesses usually fare better than upstream ones.
Chevron's scale and diversification across both markets make it a more well-rounded energy company than stand-alone upstream, midstream, and downstream companies. It has a presence in 180 countries, but it gets most of its oil from the U.S., Kazakhstan, and Australia rather than the Middle East. That geographic diversification insulates it from geopolitical conflicts.
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Why does Chevron have plenty of upside potential? Most of Chevron's recent earnings growth has been driven by higher oil prices. Those prices could pull back if the Iran war ends, but Chevron only needs the price of Brent crude (currently at $88 per barrel) to stay above $50 per barrel to cover its capex and dividends through 2030.
Chevron expects to boost its oil and gas production by 2%-3% annually through 2030, as it upgrades its main field in the Permian Basin, expands its overseas operations in Kazakhstan, Australia, and Guyana, and launches new deepwater projects in the Gulf of Mexico. To offset that spending pressure, it will reduce its structural costs by up to $4 billion by the end of 2026.
Analysts expect Chevron's adjusted EPS to more than double to $15.72 this year, easily covering its forward dividend rate of $7.12 per share. At $207, it looks like a bargain at 13 times this year's adjusted earnings -- so it's still a safe stock to buy in this turbulent market.
AMG National Trust Bank purchased a new stake in Chevron Corporation (NYSE:CVX – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 42,697 shares of the oil and gas company’s stock, valued at approximately $7,077,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Norges Bank purchased a new position in Chevron during the 4th quarter worth approximately $3,727,586,000. Bank of New York Mellon Corp purchased a new stake in shares of Chevron during the 2nd quarter worth approximately $2,378,114,000. State Street Corp lifted its holdings in shares of Chevron by 9.1% in the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after purchasing an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc lifted its stake 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 in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Chevron by 822.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock worth $946,658,000 after purchasing an additional 5,537,580 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.
Analyst Upgrades and Downgrades Several brokerages have weighed in on CVX. Jefferies Financial Group reiterated a “buy” rating and issued a $216.00 price target on shares of Chevron in a report on Friday, July 10th. UBS Group reissued a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a report on Thursday, July 2nd. Mizuho set a $224.00 price target on shares of Chevron in a report on Monday, August 3rd. Finally, Weiss Ratings raised shares of Chevron from a “hold (c)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. 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. According to MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $207.13.
Get Our Latest Report on Chevron Chevron News Roundup Here are the key news stories impacting Chevron this week:
Positive Sentiment: Major Angola discovery expands Chevron’s resource base. Chevron’s 105-4X exploration well in offshore Angola’s Block 0 encountered a hydrocarbon column exceeding 600 meters (about 2,000 feet), including more than 90 meters of net pay in the primary Pinda reservoir. The size of the find strengthens the company’s long-term production outlook and supports its strategic exploration program in Sub-Saharan Africa. Reuters article Positive Sentiment: Potential tie-in could reduce development costs. The discovery is located near existing Block 0 infrastructure, creating the possibility of a relatively efficient tie-back and potentially accelerating development while limiting capital requirements. However, commerciality, appraisal work and a development timeline have not yet been established. Chevron Stock Rises After Major Angola Discovery Positive Sentiment: Higher oil prices provide additional sector support. Reports that Brent crude was approaching $89 a barrel amid continued disruption and uncertainty around the Strait of Hormuz are supportive of Chevron’s upstream revenue and cash-flow prospects, although the geopolitical situation also raises market and operating risks. Brent Crude Nears $89 Neutral Sentiment: Income appeal remains part of the investment case. Chevron continues to be highlighted by analysts as a dividend-paying energy major with potential upside, but the dividend coverage and valuation were not materially changed by these reports. Dividend Stocks Article Insider Activity at Chevron In related news, CEO Michael K. Wirth sold 5,547 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total value of $1,037,289.00. Following the completion of the sale, the chief executive officer owned 26,308 shares of the company’s stock, valued at approximately $4,919,596. The trade was a 17.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John B. Hess sold 100,000 shares of the 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 completion of the transaction, the director owned 178,045 shares in the company, valued at $34,587,021.70. This represents a 35.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,196,212 shares of company stock valued at $231,819,366. 0.56% of the stock is currently owned by company insiders.
Chevron Price Performance NYSE CVX opened at $202.75 on Tuesday. The company has a 50-day moving average price of $183.57 and a two-hundred day moving average price of $187.25. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71. The stock has a market cap of $400.59 billion, a price-to-earnings ratio of 19.44, a price-to-earnings-growth ratio of 0.61 and a beta of 0.49. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19.
Chevron (NYSE:CVX – Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $62.72 billion. During the same period in the prior year, the company posted $1.77 EPS. The business’s revenue for the quarter was up 57.4% compared to the same quarter last year. Analysts forecast that Chevron Corporation will post 15.86 EPS for the current year.
Chevron Dividend Announcement The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Wednesday, August 19th. Chevron’s payout ratio is currently 68.26%.
Chevron Company Profile (Free Report)
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.
See Also Five stocks we like better than Chevron Commodities Are Booming, But These 3 ETFs Tell Different Stories 3 Active ETFs Making Big Moves in August This ETF Is Outperforming by Avoiding the S&P 500’s Biggest Problem Birkenstock Beats the Skeptics—But Not on EPS Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX – Free Report).
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Equinor koupí 17,4% podíl v průzkumné licenci PEL 90 u pobřeží Namibie od dceřiné společnosti Chevron. Tím vstupuje na namibijský trh a získává přístup k vrtu plánovanému k testovacímu vrtání v roce 2026.
Equinor's logo is seen next to the company's headquarters in Stavanger, Norway December 5, 2019. REUTERS/Ints Kalnins Purchase Licensing Rights, opens new tab
CompaniesOSLO, Aug 18 (Reuters) - Norway's Equinor (EQNR.OL), opens new tab said on Tuesday it has signed an agreement with a Chevron (CVX.N), opens new tab subsidiary to acquire a 17.4% stake in a petroleum exploration licence (PEL 90) in the Orange Basin offshore Namibia.
"The transaction marks Equinor's entry into Namibia and the licence provides access to a drill-ready prospect scheduled for testing in 2026," the company said in a statement.
Sign up here.
Equinor did not disclose the value of the transaction but said the deal aligns with a strategy to strengthen and replenish its international portfolio.
Prior to the transaction, Chevron subsidiary Harmattan Energy owned an interest of 52.5% in PEL 90, with the other partners in the licence being QatarEnergy with 27.5%, Trago Energy with 10% and state-owned oil company NAMCOR with 10%.
Reporting by Terje Solsvik, editing by Anna Ringstrom
Our Standards: The Thomson Reuters Trust Principles., opens new tab
B & T Capital Management získala ve 2. čtvrtletí nový podíl ve společnosti Chevron za zhruba 4,978 milionu USD. Chevron zároveň oznámil čtvrtletní dividendu 1,78 USD na akcii.
B & T Capital Management DBA Alpha Capital Management acquired a new stake in Chevron Corporation (NYSE:CVX – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 30,029 shares of the oil and gas company’s stock, valued at approximately $4,978,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CVX. MidFirst Bank acquired a new position in Chevron during the second quarter worth $6,541,000. BlackRock Inc. acquired a new stake in Chevron in the second quarter valued at $25,663,729,000. Occidental Asset Management LLC acquired a new stake in Chevron in the second quarter valued at $966,000. Succession Financial Inc. purchased a new position in shares of Chevron in the second quarter valued at $373,000. Finally, Dunhill Financial LLC purchased a new position in shares of Chevron in the second quarter valued at $346,000. 72.42% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades Several equities research analysts recently commented on CVX shares. Bank of America boosted their price objective on shares of Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Scotiabank raised their target price on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Jefferies Financial Group restated a “buy” rating and set a $216.00 target price on shares of Chevron in a report on Friday, July 10th. Wall Street Zen upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Sanford C. Bernstein upped their price target on shares of Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. Twenty equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $207.13.
Get Our Latest Analysis on CVX Chevron Trading Up 1.4% Shares of CVX opened at $202.75 on Tuesday. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The firm has a market capitalization of $400.59 billion, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 0.61 and a beta of 0.49. 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 stock’s fifty day simple moving average is $183.57 and its 200 day simple moving average is $187.25.
Chevron (NYSE:CVX – Get Free Report) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $62.72 billion. During the same period in the previous year, the company posted $1.77 EPS. Chevron’s revenue for the quarter was up 57.4% on a year-over-year basis. On average, equities research analysts forecast that Chevron Corporation will post 15.86 earnings per share for the current year.
Chevron Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, August 19th. Chevron’s dividend payout ratio is presently 68.26%.
Insider Buying and Selling at Chevron In other news, Director John B. Hess sold 100,000 shares of the stock in a transaction 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 transaction, the director owned 178,045 shares of the company’s stock, valued at $34,587,021.70. This represents a 35.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael K. Wirth sold 5,547 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total value of $1,037,289.00. Following the completion of the transaction, the chief executive officer directly owned 26,308 shares of the company’s stock, valued at approximately $4,919,596. The trade was a 17.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,196,212 shares of company stock worth $231,819,366 over the last ninety days. 0.56% of the stock is owned by corporate insiders.
Key Headlines Impacting Chevron Here are the key news stories impacting Chevron this week:
Positive Sentiment: Major Angola discovery expands Chevron’s resource base. Chevron’s 105-4X exploration well in offshore Angola’s Block 0 encountered a hydrocarbon column exceeding 600 meters (about 2,000 feet), including more than 90 meters of net pay in the primary Pinda reservoir. The size of the find strengthens the company’s long-term production outlook and supports its strategic exploration program in Sub-Saharan Africa. Reuters article Positive Sentiment: Potential tie-in could reduce development costs. The discovery is located near existing Block 0 infrastructure, creating the possibility of a relatively efficient tie-back and potentially accelerating development while limiting capital requirements. However, commerciality, appraisal work and a development timeline have not yet been established. Chevron Stock Rises After Major Angola Discovery Positive Sentiment: Higher oil prices provide additional sector support. Reports that Brent crude was approaching $89 a barrel amid continued disruption and uncertainty around the Strait of Hormuz are supportive of Chevron’s upstream revenue and cash-flow prospects, although the geopolitical situation also raises market and operating risks. Brent Crude Nears $89 Neutral Sentiment: Income appeal remains part of the investment case. Chevron continues to be highlighted by analysts as a dividend-paying energy major with potential upside, but the dividend coverage and valuation were not materially changed by these reports. Dividend Stocks Article Chevron Profile (Free Report)
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.
See Also Five stocks we like better than Chevron Commodities Are Booming, But These 3 ETFs Tell Different Stories 3 Active ETFs Making Big Moves in August This ETF Is Outperforming by Avoiding the S&P 500’s Biggest Problem Birkenstock Beats the Skeptics—But Not on EPS Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX – Free Report).
Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.
Bell Investment Advisors Inc. ve 2. čtvrtletí koupila nový podíl v Chevronu za zhruba 1,321 milionu USD. Chevron zároveň oznámil čtvrtletní dividendu ve výši 1,78 USD na akcii.
Bell Investment Advisors Inc acquired a new stake in Chevron Corporation (NYSE:CVX – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,968 shares of the oil and gas company’s stock, valued at approximately $1,321,000. Chevron makes up about 0.2% of Bell Investment Advisors Inc’s holdings, making the stock its 25th biggest position.
Other large investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new position in shares of Chevron during the second quarter worth approximately $14,276,000. Indivisible Partners bought a new stake in shares of Chevron in the fourth quarter valued at approximately $1,923,000. Janney Montgomery Scott LLC boosted its stake in shares of Chevron by 6.8% in the first quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company’s stock valued at $258,853,000 after buying an additional 79,439 shares during the period. Galaxy Digital Inc. acquired a new stake in Chevron during the first quarter worth approximately $2,028,000. Finally, Osprey Private Wealth LLC grew its position in Chevron by 556.4% during the fourth quarter. Osprey Private Wealth LLC now owns 9,190 shares of the oil and gas company’s stock worth $1,401,000 after buying an additional 7,790 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.
Trending Headlines about Chevron Here are the key news stories impacting Chevron this week:
Positive Sentiment: Major Angola discovery expands Chevron’s resource base. Chevron’s 105-4X exploration well in offshore Angola’s Block 0 encountered a hydrocarbon column exceeding 600 meters (about 2,000 feet), including more than 90 meters of net pay in the primary Pinda reservoir. The size of the find strengthens the company’s long-term production outlook and supports its strategic exploration program in Sub-Saharan Africa. Reuters article Positive Sentiment: Potential tie-in could reduce development costs. The discovery is located near existing Block 0 infrastructure, creating the possibility of a relatively efficient tie-back and potentially accelerating development while limiting capital requirements. However, commerciality, appraisal work and a development timeline have not yet been established. Chevron Stock Rises After Major Angola Discovery Positive Sentiment: Higher oil prices provide additional sector support. Reports that Brent crude was approaching $89 a barrel amid continued disruption and uncertainty around the Strait of Hormuz are supportive of Chevron’s upstream revenue and cash-flow prospects, although the geopolitical situation also raises market and operating risks. Brent Crude Nears $89 Neutral Sentiment: Income appeal remains part of the investment case. Chevron continues to be highlighted by analysts as a dividend-paying energy major with potential upside, but the dividend coverage and valuation were not materially changed by these reports. Dividend Stocks Article Analyst Ratings Changes Several equities analysts have weighed in on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $220.00 price objective on shares of Chevron in a report on Tuesday, May 5th. Wolfe Research raised Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a report on Thursday, July 2nd. Bank of America raised their price target on Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Barclays dropped their price target on Chevron from $216.00 to $208.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, UBS Group reaffirmed a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. Twenty investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $207.13. Get Our Latest Stock Report on Chevron
Insider Activity In other Chevron news, Director John B. Hess sold 100,000 shares of Chevron stock in a transaction dated 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 transaction, the director owned 178,045 shares in the company, valued at $34,587,021.70. The trade was a 35.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael K. Wirth sold 5,547 shares of Chevron stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total value of $1,037,289.00. Following the completion of the transaction, the chief executive officer owned 26,308 shares in the company, valued at approximately $4,919,596. This represents a 17.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,196,212 shares of company stock worth $231,819,366 over the last ninety days. 0.56% of the stock is currently owned by insiders.
Chevron Stock Up 1.4% Shares of CVX opened at $202.75 on Tuesday. The firm has a 50 day simple moving average of $183.57 and a two-hundred day simple moving average of $187.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71. The company has a market cap of $400.59 billion, a P/E ratio of 19.44, a P/E/G ratio of 0.61 and a beta of 0.49.
Chevron (NYSE:CVX – Get Free Report) last issued 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 firm had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. During the same quarter last year, the business posted $1.77 EPS. The company’s revenue was up 57.4% compared to the same quarter last year. Research analysts forecast that Chevron Corporation will post 15.86 EPS for the current fiscal year.
Chevron Announces Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Wednesday, August 19th. Chevron’s dividend payout ratio is currently 68.26%.
About Chevron (Free Report)
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.
See Also Five stocks we like better than Chevron Commodities Are Booming, But These 3 ETFs Tell Different Stories 3 Active ETFs Making Big Moves in August This ETF Is Outperforming by Avoiding the S&P 500’s Biggest Problem Birkenstock Beats the Skeptics—But Not on EPS
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Chevron Corporation (NYSE:CVX) shares are trading higher on Monday as the company has made a new discovery in its exploration program in Sub-Saharan Africa, signaling potential growth in its operations.
This positive news comes during a mixed market day, with the Energy sector gaining 0.56%, making it one of the top-performing sectors, while the broader S&P 500 is slightly down by 0.1%.
Discovery in Angola Drives Shares HigherChevron, through its subsidiary Cabinda Gulf Oil Company Ltd., confirmed an oil and gas condensate discovery at the 105-4X exploration well in Block 0 offshore Angola.
Block 0 is operated by CABGOC, which holds a 39.2% working interest, alongside Sonangol E&P (41%), TotalEnergies (10%) and Azule Energy (9.8%). The discovery strengthens Chevron’s Sub-Saharan Africa portfolio, where it produces about 300,000 boe/d net and continues expanding its resource base.
Drilled in the Lower Congo Basin, the well encountered a hydrocarbon column exceeding 600 meters (2,000 feet) in the Pinda reservoir, including more than 90 meters (300 feet) of net pay in high-quality reservoir rock.
Chevron will evaluate the discovery for potential development as a tie-back to nearby existing facilities, offering a capital-efficient route to production.
Read Next
CVX Technical Outlook: Momentum and Key Support LevelsThe stock is currently trading at $201.69, which is about 4.3% above its 20-day simple moving average (SMA) of $193.26. The moving average convergence divergence (MACD) is above its signal line, indicating that downside pressure is easing, suggesting improving momentum for the stock.
Key Resistance: $214.50 — Nearby level where rebounds can stall. Key Support: $186.00 — Nearby level where buyers previously stepped in. Chevron (CVX) Earnings Preview and Analyst Price TargetsChevron is slated to provide its next financial update on Oct. 30 (estimated).
EPS Estimate: $4.47 (Up from $1.85) Revenue Estimate: $56.23 billion (Up from $49.73 billion) Valuation: P/E of 19.2x (Indicates fair valuation) Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecast of $211.71. Recent analyst moves include:
Barclays: Equal-Weight (Lowers target to $208 on Aug. 17) TD Cowen: Hold (Raises target to $205 on Aug. 5) Bernstein: Market Perform (Raises Target to $209 on Aug. 3) How Chevron (CVX) Ranks On Value, Growth and MomentumBelow is the Benzinga Edge scorecard for Chevron, highlighting its strengths and weaknesses compared to the broader market:
Value: 81.18 — Stock is considered a strong value relative to peers. Growth: 67.85 — Indicates moderate growth potential. Momentum: 64.1 — Suggests a neutral momentum profile. The Verdict: Chevron’s Benzinga Edge signal reveals a balanced profile, with strong value metrics and moderate growth potential. This suggests that while the stock is well-positioned in terms of valuation, it may face challenges in accelerating growth momentum.
Top ETFs Holding Chevron (CVX) and Why It Matters iShares Core High Dividend ETF (NYSE:HDV): 5.93% Weight First Trust Morningstar Dividend Leaders Index Fund (NYSE:FDL): 7.90% Weight State Street SPDR S&P North American Natural Resources ETF (NYSE:NANR): 6.53% Weight Significance: Because Cheveron carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.
CVX Stock Price Today: Chevron Shares In FocusCVX Stock Price Activity: Chevron shares were up 1.39% at $202.79 at the time of publication on Monday, according to Benzinga Pro data.
Exxon Mobil a Chevron těží z drahé ropy: ve 2. čtvrtletí vykázaly zisk 14,5 mld. USD a 12,1 mld. USD. Další eskalace kolem Íránu by mohla jejich zisky ještě zvýšit.
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Oil has become one of the clearest financial beneficiaries of the Iran war — and one of the biggest headaches for American drivers. The Strait of Hormuz, a critical artery for global energy shipments, remains effectively closed, with little tanker traffic moving through the waterway.
West Texas Intermediate (WTI) crude is above $82 a barrel and Brent is above $88, compared with roughly $73 Brent before the war. The result has been a windfall for Big Oil. Bloomberg reported in July that combined earnings for the five supermajors were on track to be the third-highest in history, while several companies have already reported profits more than double a year ago.
Exxon And Chevron Are Already Cashing In Exxon Mobil (NYSE:XOM | XOM Price Prediction) reported $14.5 billion of second-quarter profit, up from $7.1 billion a year earlier. Chevron (NYSE:CVX) reported $12.1 billion, compared with $3.1 billion. Together, they generated roughly $26.6 billion in quarterly earnings.
Both companies are integrated — meaning they produce crude, refine it into gasoline and diesel, and market those products. That matters when a geopolitical shock disrupts the entire energy chain.
Chevron’s upstream earnings jumped to $8.2 billion, while downstream earnings reached $4.9 billion. Exxon generated $17.2 billion of free cash flow and returned $9.4 billion to shareholders through dividends and buybacks.
Their stocks reflect that strength, with Exxon and Chevron both up 33% year-to-date. Neither, though, is at its March peak, leaving room for further gains if crude prices remain elevated.
While American drivers face $4 at the pump, two oil giants just pocketed a combined $26.6 billion by turning global chaos into a record-breaking windfall. War Escalation Could Raise Gas Prices Further Trump has repeatedly accused oil companies of gouging consumers, singling out Exxon, Chevron, BP (NYSE:BP), and Shell (NYSE:SHEL), and demanding lower prices. In June, he said gasoline should be $2.25 a gallon and ordered a Justice Department investigation into potential price gouging.
However, Exxon and Chevron don’t simply choose the price posted at every gas station. Local competition, regional supply, refining margins, transportation costs, and crude prices all influence what motorists pay.
AAA’s national average was about $4.06 a gallon this morning, versus $3.98 a month earlier and $3.11 a year ago. Gasoline had been below $3 before the Iran war began. Notably, widening the war could make Trump’s price problem worse.
Trump has repeatedly extended the truce to give negotiations with Iran more time. Yet Iran continues threatening shipping through Hormuz, and Reuters reported today that Tehran is considering a shift to a “fully offensive” posture if diplomacy fails.
Now Trump has threatened to bomb Oman if it “gets in the way” of peace talks. Oman is a U.S. ally and has been mediating between Washington and Tehran.
The Bigger Risk For Investors An attack on Oman would introduce another Middle Eastern country into the conflict. If other Gulf states that have so far remained outside the fighting begin choosing sides, the market could price an even larger supply disruption.
That would be bullish for Exxon and Chevron’s upstream businesses and potentially their refining operations. But investors shouldn’t assume every additional $10 in crude translates directly into another $10 billion of profit. Demand can weaken, refining margins can reverse, and a peace deal reopening Hormuz could send oil prices sharply lower. Brent crude is already well below its $126 wartime peak.
Key Takeaway In short, Exxon and Chevron are unusually well positioned for a prolonged oil shock because their integrated businesses can capture profits from production through refining and marketing. Another escalation could push quarterly earnings above their already massive Q2 totals — but investors shouldn’t chase the stocks solely on the prospect of war.
The better thesis is that Exxon and Chevron have demonstrated they can convert elevated crude and refining margins into billions of dollars of cash. If Hormuz remains closed, that cash machine could keep running. If peace finally reopens the strait, the windfall can disappear almost as quickly as it arrived.
Contact [email protected] for any questions or corrections.
Bridgewater Advisors ve 2. čtvrtletí koupila novou pozici v Chevronu, 8 091 akcií za zhruba 1,543 milionu USD. Chevron zároveň oznámil čtvrtletní dividendu ve výši 1,78 USD na akcii.
Bridgewater Advisors Inc. bought a new position in Chevron Corporation (NYSE:CVX – Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 8,091 shares of the oil and gas company’s stock, valued at approximately $1,543,000.
Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Chevron in the fourth quarter valued at approximately $3,727,586,000. State Street Corp increased its stake in Chevron by 9.1% during the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after acquiring an additional 12,789,399 shares during the last quarter. Berkshire Hathaway Inc lifted its stake in shares of 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 purchasing an additional 8,091,570 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Chevron by 822.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock valued at $946,658,000 after purchasing an additional 5,537,580 shares during the last quarter. Finally, Aristotle Capital Management LLC grew its holdings in shares of Chevron by 653.0% during the 1st quarter. Aristotle Capital Management LLC now owns 4,526,223 shares of the oil and gas company’s stock worth $936,492,000 after purchasing an additional 3,925,137 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.
Chevron Trading Up 1.2% NYSE CVX opened at $199.99 on Friday. The firm has a 50 day simple moving average of $183.30 and a 200-day simple moving average of $186.88. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71. The firm has a market cap of $395.13 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 0.61 and a beta of 0.49.
Chevron (NYSE:CVX – Get Free Report) last released its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $62.72 billion. During the same period in the previous year, the firm posted $1.77 EPS. Chevron’s revenue for the quarter was up 57.4% on a year-over-year basis. Equities research analysts anticipate that Chevron Corporation will post 15.86 EPS for the current fiscal year.
Chevron Announces Dividend The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.6%. The ex-dividend date is Wednesday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 68.26%.
Analyst Upgrades and Downgrades Several research analysts have weighed in on CVX shares. TD Cowen increased their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Sanford C. Bernstein boosted their price target on shares of Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Chevron in a research report on Tuesday, May 5th. Piper Sandler started coverage on shares of Chevron in a report on Thursday, July 23rd. They issued an “overweight” rating and a $207.00 target price for the company. Finally, UBS Group restated a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. Twenty research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $207.48.
Get Our Latest Research Report on CVX
Insider Buying and Selling at Chevron In other Chevron news, CEO Michael K. Wirth sold 5,547 shares of Chevron stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total transaction of $1,037,289.00. Following the transaction, the chief executive officer owned 26,308 shares of the company’s stock, valued at $4,919,596. The trade was a 17.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John B. Hess sold 100,000 shares of Chevron stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the completion of the transaction, the director owned 178,045 shares in the company, valued at approximately $34,587,021.70. This represents a 35.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,196,212 shares of company stock worth $231,819,366 over the last quarter. 0.56% of the stock is owned by company insiders.
Chevron Profile (Free Report)
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.
Further Reading Five stocks we like better than Chevron Is Best Buy the AI Winner Hiding in the Electronics Aisle? Applied Materials Beat Everything but Wall Street’s Expectations for Margins Back From Orbit, Intuitive Machines’ Share Price Enters the Buy Zone Texas Roadhouse and Brinker International Have the Recipe Rivals Are Missing Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX – Free Report).
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Chevron ve 2. čtvrtletí snížil dluh o rekordních 8,4 miliardy USD a zlepšil poměr čistého dluhu k CFFO na 0,6x z 1,3x. Současně utratil 6,5 miliardy USD za odkupy akcií a dividendy.
Imagine being a contestant on Jeopardy! and Investing being one of the categories. Taking it a step further, one of the clues requires contestants to call out the three pillars of shareholder yield: buyback yield, dividend yield, and? Bueller?
The last one is where many market participants trip up. It's debt reduction. For many investors, reducing liabilities isn't as glamorous or as tangible as dividends or share repurchases, but it's important nonetheless. So it's commendable that Chevron (CVX -0.03%) trimmed its obligations by a record $8.4 billion during the second quarter.
Image source: The Motley Fool.
Sure, in the context of Chevron's $392.4 billion market cap, $8.4 billion doesn't sound like much. But as a famous senator once said, "A billion here, a billion there, and pretty soon you're talking real money." More importantly, Chevron's debt-reducing efforts confirm the stock is worth evaluating, even by investors with small grubstakes.
Chevron debt reduction definitely matters S&P rates Chevron AA-, which is at the higher end of the investment-grade range. As such, it's in the upper tier of oil stocks in terms of effective interest rates. Chevron's is 4.3%. A few rivals have lower effective interest rates. Plenty more have higher rates.
The point is that with the Federal Reserve providing little indication that it will cut interest rates this year, it's prudent for companies of all shapes and sizes to reduce debt. Last year, Chevron spent $1.2 billion on interest expenses alone. Erasing $8.4 billion from its debt tally implies that, by some estimates, the oil giant could save as much as $336 million annually in interest expenses.
Chevron's second-quarter liabilities-reducing efforts are important for another reason. It's a matter of keeping up with the Joneses. In this case, the Joneses are Chevron competitors ExxonMobil and Shell. These rivals pared obligations by more than $7 billion and $10.8 billion, respectively, during the June quarter.
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The point is that in a sector-specific game of debt-cutting musical chairs, it's best not to be left standing up when the music stops. Chevron has a chair, and that's good news for investors.
Chevron is sending a message Actually, the oil major is arguably sending several messages by shedding $8.4 billion in debt. That move cuts Chevron's net debt-to-cash flow from operations (CFFO) ratio to 0.6x from 1.3x in the first quarter, confirming that balance sheet health is a priority.
Image source: Getty Images.
Chevron's debt paring also occurred as the company spent $6.5 billion on buybacks and dividends, confirming its cash flow position is sturdy. The subsequent drop in interest expenses could be used to fortify the energy company's status as a buyback machine and as a blue chip dividend stock.
Timing is also relevant. Chevron shedding some of its obligations while it notched earnings per share (EPS) that more than quadrupled year over year may be a sign that management wanted to capitalize on high prices while the getting was good. After all, oil prices are notoriously cyclical, and that's exactly the type of prudence that makes this energy stock worth considering.
For the quarter ended June 2026, Chevron (CVX - Free Report) reported revenue of $70.06 billion, up 56.3% over the same period last year. EPS came in at $6.06, compared to $1.77 in the year-ago quarter.
The reported revenue represents a surprise of +21.78% over the Zacks Consensus Estimate of $57.53 billion. With the consensus EPS estimate being $5.80, the EPS surprise was +4.48%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Chevron performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
U.S. Upstream - Net oil-equivalent production per day: 2077 millions of barrels of oil equivalent per day versus 2046.62 millions of barrels of oil equivalent per day estimated by four analysts on average.U.S. and International Upstream - Total net oil-equivalent production: 4070 millions of barrels of oil equivalent versus the four-analyst average estimate of 4047.93 millions of barrels of oil equivalent.International Upstream - Net oil-equivalent production per day: 1993 millions of barrels of oil equivalent per day versus the four-analyst average estimate of 2001.05 millions of barrels of oil equivalent per day.U.S. Upstream - Net natural gas production per day: 3,520.00 Mcf/D compared to the 3,363.76 Mcf/D average estimate based on three analysts.International Upstream - Net natural gas production per day (Natural Gas Production): 5,390.00 Mcf/D versus the three-analyst average estimate of 5,348.14 Mcf/D.Segment sales and other operating revenues- Upstream- International: $11.87 billion compared to the $12.33 billion average estimate based on two analysts. The reported number represents a change of +69.5% year over year.Segment sales and other operating revenues- Upstream- United States: $5.66 billion versus $9.29 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +39.3% change.Revenue from net production- Crude- U.S. Upstream: $95.66 million versus the two-analyst average estimate of $87.82 million.Revenue from net production- NGLs- U.S. Upstream: $21.56 million compared to the $22.48 million average estimate based on two analysts.Revenues- Income (loss) from equity affiliates: $2.13 billion compared to the $1.12 billion average estimate based on two analysts. The reported number represents a change of +296.5% year over year.Revenues- Sales and other operating revenues: $67.2 billion compared to the $59.3 billion average estimate based on two analysts. The reported number represents a change of +51.4% year over year.Revenues- Other income: $731 million versus the two-analyst average estimate of $244.88 million. The reported number represents a year-over-year change of -921.4%.View all Key Company Metrics for Chevron here>>>
Shares of Chevron have returned +7% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Chevron vykázal za 2. čtvrtletí upravený zisk 12 miliard USD díky vyšší produkci a silným rafinérským maržím. Synergie z Hess dosáhly ročně 1,5 miliardy USD, tedy 50 % nad cílem.
Key Takeaways Chevron posted Q2 adjusted earnings of $12 billion, supported by higher output and strong refining margins.Hess synergies reached $1.5 billion annually, 50% above target, while costs fell $3 billion.Chevron faces commodity sensitivity and maintenance headwinds that could pressure earnings after a strong Q2. Chevron Corporation (CVX - Free Report) has entered the second half of 2026 with considerable operating momentum. The company recently delivered an impressive quarterly beat, reporting adjusted earnings of $12 billion for the second quarter of 2026. The strong performance was supported by solid operational execution, higher crude oil price realizations, robust refining margins and increased production following the Hess acquisition.
Results were further underpinned by stronger cash flow, a resilient upstream portfolio and disciplined shareholder returns. Yet with shares lagging both ExxonMobil (XOM - Free Report) and Shell (SHEL - Free Report) , and valuation sitting at a premium, the bigger question is whether this momentum can translate into meaningful upside for investors.
Strong Production and Cash Generation Support CVXChevron’s second-quarter operating performance was impressive. Worldwide net oil-equivalent production reached 4.07 million barrels per day, up 20% year over year, driven largely by legacy Hess assets and growth in the Permian Basin and Gulf of America. U.S. production reached a record 2.07 million barrels of oil equivalent per day. Refining operations were similarly strong, with U.S. crude unit throughput reaching a record 1.07 million barrels per day and utilization exceeding 97%.
Higher commodity prices amplified those operating gains. Chevron reported second-quarter earnings of $12.1 billion, or $6.11 per share, while adjusted earnings totaled roughly $12 billion, or $6.06 per share. Cash flow from operations excluding working capital was $19.7 billion, while adjusted free cash flow reached $15.4 billion.
That cash generation has provided significant financial flexibility. Chevron reduced debt by a record $8.4 billion during the quarter, while its net debt-to-CFFO ratio improved to 0.6X. At the same time, the company continued returning capital, paying $3.5 billion of dividends and repurchasing $3 billion of shares during the quarter.
Image Source: Chevron Corporation
Hess Integration and Cost Savings Strengthen the StoryThe Hess acquisition is also showing tangible benefits. One year after closing, Chevron had captured $1.5 billion of annual run-rate synergies — 50% above its initial target and six months ahead of schedule. Management said the acquired assets are generating free cash flow at roughly twice the incremental dividend burden, while Guyana provides exposure to high-margin production growth extending into the 2030s.
Cost discipline offers another lever. Chevron achieved $3 billion of annual run-rate structural cost reductions six months early, with more than 70% of the savings stemming from efficiency improvements. Meanwhile, management expects 2026 shale and tight capital spending per barrel of oil equivalent to be 25% below last year, indicating that production growth is becoming more capital efficient.
Chevron is also broadening its opportunity set beyond conventional oil and gas. Project Kilby in West Texas includes a 20-year take-or-pay agreement to supply Microsoft with 2.67 gigawatts of behind-the-meter power. Management expects the project to generate mid-teens returns and long-duration cash flows that are less correlated with commodity cycles, although the project remains subject to final investment decision and execution.
What Could Hold Chevron Back?Commodity exposure remains the biggest swing factor. Chevron estimates that every $1 change in Brent affects full-year after-tax earnings and cash flow by roughly $600 million. Second-quarter Brent averaged nearly $104 per barrel, providing a substantial earnings tailwind that may not persist.
Image Source: Chevron Corporation
Near-term operations also face maintenance headwinds. Chevron expects third-quarter upstream turnarounds and downtime to reduce production by 150,000-200,000 barrels of oil equivalent per day, while downstream maintenance could reduce after-tax earnings by $175-$225 million. Geopolitical exposure, particularly around Kazakhstan’s CPC export route and the Middle East, adds another layer of uncertainty. The company itself identifies commodity prices, OPEC+ actions, geopolitical conflicts and operational disruptions among material risks.
CVX’s Price Performance & ValuationsChevron’s shares have gained 1% over the past three months compared with the sub-industry’s 0.3% growth. However, the company underperformed its peers, as ExxonMobil and Shell have risen 2.2% and 3.7%, respectively, during the same time period.
Image Source: Zacks Investment Research
Chevron’s premium valuation also leaves less room for error. The stock trades at roughly a 12.61X forward price-to-earnings multiple, notably higher than Shell’s 9.44X but below ExxonMobil’s 13.32X.
Valuation Comparison
Image Source: Zacks Investment Research
CVX Merits a Balanced ViewChevron’s underlying picture is constructive: record production, accelerating Hess synergies, structural cost reductions, robust cash generation and a stronger balance sheet provide a solid foundation. The Microsoft power agreement also introduces an intriguing source of contracted, commodity-diversified growth.
However, elevated commodity sensitivity and upcoming maintenance could create earnings volatility after an exceptionally strong second quarter. For now, Chevron, currently carrying a Zacks Rank #3 (Hold), appears well positioned operationally, but investors may want clearer evidence that recent earnings strength can endure through a less supportive commodity environment before taking a more bullish stance.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Chevron zvýšil letošní výhled produkce na 4 až 4,1 milionu barelů denně a snížil kapitálové výdaje na zhruba 18 miliard USD. Firma zároveň očekává růst volného cash flow o asi 12,5 miliardy USD.
War. Huh? What is it good for? Well, apparently it's good for oil prices and oil stocks -- Chevron (CVX +3.33%) in particular.
Global demand for oil amid Mideast turmoil spurred Chevron to raise its production forecast to between 4 million and 4.1 million barrels per day for this year, as TheFly.com reported late Friday. At the same time, Chevron advised that its capital spending will be closer to $18 billion than $19 billion.
Investors liked the news, and Chevron stock is up 3.2% through 10:15 a.m. ET this morning.
Image source: Getty Images.
More oil, less spending, more profit! More oil production at higher prices, and less capital spending? That's a recipe for higher profits and a near-term gusher of cash. Accordingly, Chevron told investors it anticipates growing its free cash flow by about $12.5 billion this year.
Added to the $16.6 billion the company generated last year, this implies 2026 FCF could surpass $29 billion, growing 75% year over year!
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How to value Chevron stock With $16.5 billion in FCF already produced this year, a $29.1 billion by year-end looks entirely achievable. Indeed, at its current pace, Chevron could potentially bury its own forecast and generate as much as $33 billion this year.
But let's work off the company's own, more conservative forecast.
Chevron has a $366 billion market capitalization. Dividing $29.1 billion into that gives us a 12.6x price-to-free cash flow ratio for Chevron stock. Factoring in a 3.8% dividend yield, I'd say any long-term growth rate of 9% or better would be good enough to make this stock a buy -- and analysts are forecasting more than a 16% long-term growth rate.
That's good enough for me. Chevron stock looks cheap enough to buy.
Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Chevron. The Motley Fool has a disclosure policy.
Chevron se podílí na studiích plánovaného ropovodu Haditha-Baniyas, který má pomoci obejít Hormuzský průliv. Washington chce více ropy přepravovat potrubím a méně přes toto úzké místo.
The Strait of Hormuz is one of the world’s biggest energy vulnerabilities. Roughly 20 million barrels of petroleum liquids — about 20% of global consumption — passed through the waterway in 2024, according to the U.S. Energy Information Administration. That makes the strait more than a shipping lane. It gives Iran a relatively inexpensive way to threaten a huge portion of the world’s oil supply.
Treasury Secretary Scott Bessent says Washington wants to change that equation, calling the strait potentially “irrelevant” within two years as more oil moves through pipelines. For Chevron (NYSE:CVX | CVX Price Prediction), that’s more than a geopolitical talking point. The company is already involved in studying one of those potential escape routes: a pipeline connecting Iraq’s oil network to Syria’s Mediterranean coast.
The Goal Is Bigger Than Iraqi Oil Iraq’s Haditha-Baniyas pipeline is important because it illustrates the broader idea: move oil overland to export terminals outside the Persian Gulf rather than forcing every barrel through Hormuz.
The proposed route would connect Iraq’s oil network at Haditha with Syria’s Mediterranean port of Baniyas. It is closely related to the historic Kirkuk-Baniyas corridor, which once transported Iraqi crude through Syria to the Mediterranean. However, the current proposal is not simply a restoration of the old pipeline.
More importantly, Iraq is only one piece of the puzzle. The EIA estimates Saudi Arabia and the United Arab Emirates have about 4.7 million barrels per day of unused pipeline capacity that can bypass Hormuz. That’s nowhere near the roughly 20 million barrels per day that crossed the strait in 2024, which explains why Washington cannot make Hormuz irrelevant with one pipeline project. It needs a network.
But the bigger investment thesis is strategic. Every barrel that can reach a Mediterranean or Red Sea terminal without passing through Hormuz reduces the amount of traffic that has to be protected in the strait. That potentially reduces the military burden of keeping the waterway open — particularly important after a prolonged conflict has consumed precision missiles and air-defense interceptors.
The U.S. military has reportedly depleted large portions of several missile inventories during the Iran war and after years of supporting Ukraine. Rebuilding those inventories will take money, production capacity, and time.
That creates a second reason for Washington to favor infrastructure over perpetual military protection: a pipeline is a permanent piece of energy infrastructure, while interceptors are one-time expenditures.
The Pipeline Has Its Own Weaknesses Granted, pipelines aren’t invulnerable. Iran and other regional adversaries have shown they can readily attack fixed infrastructure with missiles and drones. A pipeline running through Iraq and Syria could become a tempting target precisely because it cannot move out of harm’s way.
But the risk is different. A damaged pipeline is a localized infrastructure problem. A threatened Strait of Hormuz can become a global shipping and energy problem affecting millions of barrels per day. That asymmetry is the point.
For Chevron, meanwhile, the opportunity doesn’t depend entirely on this one project. The company generated $33.9 billion of operating cash flow and $20.2 billion of adjusted free cash flow in 2025, while returning $27.1 billion to shareholders.
The pipeline opportunity would therefore sit on top of an already cash-generating energy business rather than determine its entire investment case.
Key Takeaway In short, Bessent’s “irrelevant” comment shouldn’t be interpreted as a plan to replace Hormuz with the Haditha-Baniyas pipeline. The objective is much larger: build enough alternative energy infrastructure that Iran can no longer hold the global oil market hostage simply by threatening one narrow waterway.
Chevron’s involvement in Haditha-Baniyas gives investors a tangible example of what that transition could look like. The project remains preliminary, and pipelines through conflict zones carry obvious risks. But if Washington is genuinely shifting from defending Hormuz indefinitely to building around it, Chevron deserves a place on investors’ watch lists.
The most interesting part isn’t the Iraqi oil. It’s the infrastructure required to make the world’s most important oil chokepoint matter less.
Contact [email protected] for any questions or corrections.
Chevron ve 2. čtvrtletí vykázal z komoditních derivátů zisk 368 milionů USD po ztrátě 3,1 miliardy USD v 1. čtvrtletí. Čistý zisk vzrostl na 12,1 miliardy USD.
ToplineChevron’s commodity derivatives—financial contracts used to hedge risks associated with oil shipments—trended upward for the company in its latest quarter after recording a $3.1 billion loss in the previous one amid “heightened volatility” during the Iran war.
Chevron submitted the SEC filing Thursday.
Photo by Brandon Bell/Getty Images
Key FactsChevron’s commodity derivatives raked in $368 million in the company’s second quarter, a significant jump from the $3.1 billion loss posted in its first quarter, according to an SEC filing.
Chevron disclosed $870 million in margin calls posted as cash collateral in its first quarter, which dropped to $139 million by the quarter ended June 30 and marked a cash recovery that came as oil prices dropped from their highs in March.
A footnote in the filing’s derivatives section said “heightened volatility in commodity prices associated with the ongoing conflict in the Middle East” created large losses and forced Chevron to pay out cash to cover its trading accounts.
Chevron stock traded up 1.4% to around $188 per share as of Thursday afternoon.
Big Number$12.1 billion. That was Chevron’s reported net income in its latest quarter, far above the $2.5 billion it reported in the same period last year. The figure was driven by increased production volumes and the Iran war, which sent commodity prices higher.
TangentEnergy firm Phillips 66 said in an earnings call Wednesday it became the third-largest buyer of Venezuelan crude oil, benefiting from maritime trading exemptions doled out by the Trump administration. Phillips 66 was excluded from President Donald Trump’s scrutiny of oil giants this week, as he has blasted Chevron and Exxon for “making too much money” amid the Iran war.
Key BackgroundBrent crude, one of the global pricing benchmarks for crude oil, averaged $81 per barrel in the first quarter and surged to an average of $92 per barrel as fears surged around the Iran war. Prices for the oil are up 33% since the start of the year, when the cost for a barrel was about $60. Chevron’s net short position in commodity derivatives means the company profits when oil prices fall. So, as Brent crude surged to well above the $100 mark in March and April, the company eventually benefited from a drop down to about $73 that came in the nick of time for its earnings window. Trump’s anger with Chevron and Exxon’s profits come as gas prices remain stubbornly high despite the recent slump in oil prices, with the president threatening to have the companies “give some of that back to the public,” though Trump did not elaborate on how that could be done.
Further ReadingPhillips 66 Says It’s The Third-Largest Buyer Of Venezuelan Crude As Trump Blasts Exxon And Chevron (Forbes)
Trump kritizoval ExxonMobil a Chevron za „příliš vysoké“ zisky z růstu cen ropy během konfliktu s Íránem a řekl, že část by měli vrátit veřejnosti. Chevron ve 2. čtvrtletí vykázal zisk 12 miliard dolarů a Exxon 14,5 miliardy dolarů.
President Donald Trump said Monday that ExxonMobil and Chevron made "too much money" on rising crude oil prices due to the Iran war.
"They're making too much money based on a shortage," Trump told reporters at the White House. "I don't like it."
Exxon and Chevron on Friday reported windfall profits for the second quarter. Chevron's earnings soared nearly 400% to $12 billion compared to $2.5 billion in the same period last year. Exxon's profits more than doubled to $14.5 billion compared to $7.1 billion in the year-ago period.
"Chevron, too much money. ExxonMobil, too much money," Trump said. "They're going to give some of that back to the public and they better cut the retail price, the consumer price."
CNBC has reached out to Exxon and Chevron for comment.
U.S. crude oil prices have gained about 20% since the U.S. and Israel attacked Iran on Feb. 28. Tehran has retaliated by trying to choke oil exports through the Strait of Hormuz, triggering the largest supply disruption in history.
U.S. oil futures had an average closing price of around $92 per barrel from April through June, about 27% higher than the first quarter.
Gasoline prices, meanwhile, averaged about $4.10 per gallon nationwide on Monday, nearly 40% higher compared to the $2.98 per gallon that drivers paid on Feb. 27 before the war started, according to data from AAA.
Chevron's shares were down nearly 2% while Exxon traded slighly lower after Trump's comments. The oil majors' stocks were already under pressure Monday as crude prices fell about 5% on hopes that U.S.-Iran talks might prevent further escalation.
Chevron oznámil za 2. čtvrtletí 2026 zisk lepší, než se očekávalo: upravené EPS bylo 6,06 USD, proti odhadu 5,56 USD, a výnosy a ostatní příjmy dosáhly 70,06 mld. USD, nad odhadem 61,97 mld. USD. Po výsledcích analytici Barclays a Bernstein zvýšili cílové ceny z 213 na 216 USD, respektive z 204 na 209 USD.
Chevron Corporation (NYSE:CVX) on Friday reported better-than-expected second-quarter 2026 results.
Adjusted EPS of $6.06 beat the $5.56 estimate. Total revenues and other income rose 56.3% to $70.06 billion, topping the $61.97 billion estimate.
“Faced with geopolitical uncertainty and market volatility, Chevron’s people remain focused on safely delivering the reliable energy the world needs,” Chevron CEO Mike Wirth said. “Our strong second quarter performance is a result of disciplined investment and strong execution that drove record U.S. upstream production, record crude throughput in our U.S. refineries, and exceptional reliability across key assets.”
Chevron shares fell 0.8% to trade at $195.38 on Monday.
These analysts made changes to their price targets on Chevron following earnings announcement.
Barclays analyst Betty Jiang maintained the stock with an Equal-Weight rating and raised the price target from $213 to $216. Bernstein analyst Bob Brackett maintained the stock with a Market Perform and raised the price target from $204 to $209. Considering buying CVX stock? Here’s what analysts think:
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Chevron dosáhl 3 miliard USD ročních strukturálních úspor nákladů o šest měsíců dříve a pro rok 2026 čeká kapitálové výdaje na spodní hraně rozpětí 18–19 miliard USD. Zároveň posouvá projekt Kilby s Microsoftem na 2,67 GW výkonu.
Key Takeaways Chevron hit $3B in annual run-rate cost cuts early and sees 2026 capex at the low end of guidance.Project Kilby targets mid-teens returns through a 20-year deal to supply Microsoft with 2.67 GW of power.Chevron is running U.S. shale for efficiency and free cash flow while expanding global growth options. Chevron Corporation (CVX - Free Report) used its second-quarter 2026 earnings call to emphasize lower costs, capital efficiency and growth options across power and upstream.
Adjusted earnings of $6.06 per share topped the Zacks Consensus Estimate of $5.80, while revenues of $70.06 billion exceeded the $57.53 billion estimate. Management focused on execution and investment discipline.
CVX Tightens Costs and CapitalChief financial officer Eimear Bonner said Chevron reached $3 billion of annual run-rate structural cost reductions six months early. More than 70% came from efficiency gains, including engineering centralization, predictive maintenance and turnaround planning.
CFO Bonner expects 2026 capital spending at the low end of the $18-$19 billion range. Permian spending is expected below $3.5 billion.
Chevron generated $19.7 billion of cash flow from operations, excluding working capital and $15.4 billion of adjusted free cash flow. It also reduced debt by more than $8 billion.
Chevron Turns Kilby Into a Repeatable ModelChevron New Energies president Jeff Gustavson highlighted Project Kilby, backed by a 20-year take-or-pay agreement to supply Microsoft with 2.67 gigawatts of behind-the-meter power. Work is advancing toward a final investment decision later this year.
Jeff Gustavson expects mid-teens returns and contracted cash flows independent of commodity cycles. He presented Kilby as a repeatable model.
Asked by Piper Sandler about the business's long-term role, Gustavson said discussions on additional projects are underway. He noted tight turbine availability and emphasized value over growth.
CVX Focuses Shale on Free Cash FlowChairman and CEO Michael Wirth said Chevron manages roughly 1.7 million barrels per day of shale and tight production. The U.S. portfolio is being run for efficiency and free cash flow rather than near-term growth.
CFO Bonner said the Permian has produced more than 1 million barrels per day for five consecutive quarters. Chevron expects 2026 capital spending per barrel there to improve 25% from 2025.
A Goldman Sachs analyst asked about the Bakken. CEO Wirth said Chevron is maintaining similar production with one fewer rig, drilling laterals that average 28% longer and applying practices from across the shale portfolio.
Chevron Balances TCO Gains With CPC RiskA Morgan Stanley analyst focused on Tengizchevroil and the Caspian Pipeline Consortium. Wirth said TCO production increased 170,000 barrels per day from the first quarter, while affiliate distributions were roughly $3 billion, mostly from TCO.
Bonner said a low-capital modification raised the third-generation plant's nameplate oil capacity from 260,000 to 320,000 barrels per day. Total field processing capacity now exceeds 1 million barrels per day.
An RBC analyst pressed management on an extended CPC disruption. Wirth said the pipeline was flowing, a third loading point was scheduled to return in the third quarter, and Chevron could use Caspian shipments, rail and storage while declining to quantify those alternatives.
CVX Expands Its Global Option SetWirth described growth choices across existing assets, exploration entries and special situations. He cited Guyana, the Eastern Mediterranean, West Africa, Argentina, Iraq, Venezuela and the TCO concession.
A JPMorgan analyst asked about Iraq. Wirth said discussions on West Qurna 2 and Nasiriyah had advanced, with terms that could compete for capital, though final agreements remain outstanding.
Addressing TD Cowen and BMO questions, Bonner said Venezuela debt recovery should finish by early 2027, and production from three joint ventures reached 280,000 barrels per day. She also said Chevron targets threefold Argentina growth by 2035 under a framework offering 30 years of fiscal stability.
Chevron Keeps Discipline at the CenterBonner reaffirmed Chevron's 2030 objectives of 2% to 3% annual production growth, adjusted free cash flow growth above 10% per year on average and a return on capital employed improvement of more than 3%.
CEO Wirth and CFO Bonner tied those goals to reliability, cost control and capital competition. Power and global upstream opportunities were presented as additions, not reasons to relax return thresholds.
CVX’s Zacks Rank and Style Score SignalsCVX carries a Zacks Rank #3 (Hold), with Value and Growth Scores of A, a Momentum Score of B and a VGM Score of A. The Style Scores indicate favorable value, growth and momentum characteristics, while the Rank reflects a neutral near-term signal. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Style Scores complement the Zacks Rank, with the strongest historical combinations centered on Rank #1 or #2 (Buy) stocks with A or B scores. CVX's Zacks Rank can change as analysts revise earnings estimates after results.
Chevron v červenci uzavřel s Irákem dohodu o investicích do dvou ropných polí a o účasti v konsorciu pro ropovod mimo Hormuzský průliv. Projekt zatím není závazný, ale může změnit energetiku regionu.
Chevron (CVX +2.35%) is an integrated energy company. That's important for investors to remember, since it not only produces oil and natural gas, but it also transports the vital fuels and processes them. The power of the integrated business model was on full display in July, when Chevron reached an accord with Iraq on major energy investments in the country. Here's why it could change both Chevron and the energy sector as a whole.
What does Chevron do? Chevron is one of the world's largest energy companies. It has a globally diversified portfolio of energy assets, ranging from the upstream (production) all the way to downstream (chemicals and refining). One big benefit of this model is that Chevron can invest its capital where it believes it will produce the most economic benefit. That's not just a statement about production; it also involves investments in the midstream (pipeline) and downstream segments of its business.
Image source: Getty Images.
On the production front, Chevron reached an accord with Iraq in July about making investments in two of the country's oil fields. That's a big deal because it supports Chevron's production. Since oil is a depleting asset, the company is always on the lookout for new production to replace older fields where production is declining.
That alone isn't enough to reshape Chevron's business or change much about the broader energy industry. The big piece is that the accord highlights the importance of Chevron joining a consortium to build a pipeline that will allow Iraq's oil to bypass the Strait of Hormuz. The pipeline would run through Syria, reaching all the way to the Mediterranean coast.
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This could be the game changer, given that the big problem arising from the geopolitical conflict in the Middle East is the effective closure of the Strait of Hormuz. If energy companies find a way around that problem, energy security will improve materially. It will also make investing in the Middle East's energy industry far more attractive for companies like Chevron. Simply put, the investments Chevron is discussing making in Iraq will work out better if the pipeline is built. And that could lead to even more investment in the future.
It takes time to develop big energy projects There's a caveat here. Chevron's accord isn't a binding agreement. It still has to ink a final investment deal. And even then, it takes time to get energy fields up and running, and to build massive oil pipelines. This isn't a decision that moves the needle right now. But it could help to reshape Chevron and the entire oil industry over the next decade. For investors who think long term, you'll want to pay close attention to Chevron's moves in Iraq today.
Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Chevron. The Motley Fool has a disclosure policy.
Ropná a plynárenská společnost Chevron zveřejnila hospodářské výsledky za druhé čtvrtletí roku 2026. Očištěný zisk na akcii výrazně překonal průměrný odhad analytiků.
Výsledky společnosti Chevron (CVX) za 2Q 2026 2Q 2026 Konsensus 2Q 2026 2Q 2025 Tržby (mld. USD) 70,06 67,93 44,82 Čistý zisk (mld. USD) 12,07 -- 2,49 Očištěný zisk na akcii (EPS, USD/akcie) 6,06 5,65 1,77 Výsledky za 2Q Tržby dosáhly 70,06 mld. USD, nad odhadem 67,93 mld. USD.
Zisk ze segmentu upstream (těžba) dosáhl 8,18 mld. USD oproti 2,73 mld. USD ve stejném období loňského roku, nad odhadem 8,1 mld. USD. Zisk z amerického upstream segmentu dosáhl 3,54 mld. USD oproti 1,42 mld. USD loni, pod odhadem 3,86 mld. USD. Zisk z mezinárodního upstream segmentu dosáhl 4,64 mld. USD, nad odhadem 4,37 mld. USD.
Zisk ze segmentu downstream (rafinace a distribuce) dosáhl 4,87 mld. USD oproti 737 mil. USD ve stejném období loňského roku, nad odhadem 4,13 mld. USD. Zisk z mezinárodního downstream segmentu dosáhl 2,46 mld. USD oproti 333 mil. USD loni, nad odhadem 2,06 mld. USD.
Celosvětová produkce dosáhla 4 070 tisíc barelů ropného ekvivalentu denně (mboe/d), meziročně +20 %, nad odhadem 3 981 tisíc. Produkce kapalných uhlovodíků dosáhla 1 491 tisíc barelů denně, meziročně +22 %, nad odhadem 1 457 tisíc.
Průměrná prodejní cena ropy a NGL v americkém upstream segmentu dosáhla 70,80 USD za barel, meziročně +48 %, nad odhadem 69,16 USD. Průměrná prodejní cena zemního plynu v americkém upstream segmentu činila 0,91 USD za tisíc krychlových stop, meziročně -48 %, pod odhadem 1,31 USD. Průměrná prodejní cena ropy a NGL v mezinárodním upstream segmentu dosáhla 96,41 USD za barel, meziročně +64 %. Průměrná prodejní cena zemního plynu v mezinárodním upstream segmentu činila 7,84 USD za tisíc krychlových stop, meziročně +8,9 %.
Vstup surové ropy do amerických rafinerií dosáhl 1,07 mil. barelů denně, meziročně +1,8 %, nad odhadem 1,02 mil. Vstup surové ropy do mezinárodních rafinerií dosáhl 598 tisíc barelů denně, meziročně -9,5 %, pod odhadem 617 010.
Provozní cash flow dosáhlo 22,6 mld. USD oproti 8,6 mld. USD ve stejném období loňského roku, nad odhadem 19,72 mld. USD.
Výhled na FY 2026 Společnost pro celý rok 2026 očekává:
Kapitálové výdaje při spodní hranici rozmezí 18 až 19 mld. USD (dříve: 18 až 19 mld. USD; konsensus: 18,3 mld. USD). Společnost zároveň uvedla, že zůstává přesvědčena o naplnění cílů pro rok 2030 představených v listopadu loňského roku, včetně ročního růstu produkce o 2 až 3 %, růstu očištěného volného cash flow v průměru o více než 10 % ročně a zlepšení rentability vloženého kapitálu o více než 3 procentní body, a to při stabilních cenách komodit nižších, než jsou dnešní.
Komentář vedení Mike Wirth, předseda představenstva a generální ředitel Chevron, uvedl: „Zůstáváme zaměřeni na nákladovou disciplínu a dlouhodobou tvorbu hodnoty. Během druhého čtvrtletí společnost dosáhla svého cíle strukturálního snížení nákladů o šest měsíců dříve, když zajistila 3 mld. USD ročních úspor. Kromě toho jsme do jednoho roku od uzavření akvizice společnosti Hess Corporation dosáhli ročních synergií ve výši 1,5 mld. USD.“
Vyšší kapitálové výdaje ve 2Q 2026 oproti loňskému roku byly podle firmy způsobeny především výdaji na dříve akvírovaná aktiva společnosti Hess, částečně kompenzovanými nižšími výdaji v Permianské pánvi.
Návrat kapitálu akcionářům Představenstvo Chevron vyhlásilo čtvrtletní dividendu ve výši 1,78 USD na akcii, splatnou 10. září 2026 akcionářům evidovaným k rozhodnému dni 19. srpna 2026. Společnost během čtvrtletí zpětně odkoupila akcie v hodnotě 3,12 mld. USD.
Akcie Chevron Akcie Chevron (CVX) v předburzovní fázi obchodování rostou o 0,75 % na 193,75 USD.
Akcie Chevron Corp (CVX) včera vzrostly o 0,2 % na 192,31 USD Ukazatel Ukazatel Kapitalizace (mld. USD) 383,0 P/E 18,8 Vývoj za letošní rok (%) +26,2 Očekávané P/E 13,2 52týdenní minimum (USD) 146,5 Prům. cílová cena (USD) 213,8 52týdenní maximum (USD) 214,7 Dividendový výnos (%) 3,6 Zdroj: Chevron, Bloomberg
Chevron jedná s iráckými úřady o možných investicích do polí West Qurna 2 a Nassiriya. Firma už podepsala předběžné dohody k posouzení Nassiriya a ke studiu projektů ropovodů pro export ropy.
Key Takeaways Chevron discussed potential investments in West Qurna 2 and Nassiriya with Iraqi officials.CVX signed preliminary agreements to assess Nassiriya and study crude export pipeline projects.Chevron could expand its Middle East upstream portfolio if talks lead to operating contracts and approvals. Chevron Corporation (CVX - Free Report) is once again exploring opportunities in Iraq, signaling renewed interest in one of the world's largest oil-producing regions. The company recently held discussions with Iraqi officials regarding potential investments in the giant West Qurna 2 and Nassiriya oil fields. This move follows Russia's Lukoil's exit from the West Qurna 2 project, creating an opportunity for Iraq to bring in another international energy major as a potential operator.
Chevron Evaluates Multiple Growth Opportunities in IraqThe latest discussions suggest CVX is evaluating opportunities beyond a single producing asset. In addition to West Qurna 2, the company has signed preliminary agreements to evaluate development opportunities at Nassiriya, which includes four exploration blocks and the Balad oil field. CVX is also expected to participate in technical studies for proposed crude export pipeline projects linking Iraq with Turkey and Syria. Together, these initiatives indicate that Chevron is assessing a broader presence across Iraq's upstream sector and export infrastructure rather than pursuing an isolated investment.
Why Iraq Matters to ChevronThe potential opportunity is significant. Iraq possesses some of the world's largest proven crude oil reserves, while fields such as West Qurna 2 rank among the country's highest-producing assets. For CVX, gaining access to these conventional, long-life reservoirs could complement its existing portfolio by adding large-scale production assets capable of generating output for decades. Although the discussions remain preliminary and no final investment decisions have been announced, they underscore Chevron's growing interest in expanding its footprint in the Middle East.
Global Energy Majors Continue Expanding in IraqChevron is not alone in recognizing Iraq's long-term potential.
ExxonMobil Holdings Corporation (XOM - Free Report) established its presence through the development of the giant West Qurna 1 field, demonstrating the value international oil companies place on Iraq's low-cost conventional reserves. TotalEnergies SE (TTE - Free Report) has taken a broader approach through its Gas Growth Integrated Project, combining oil production, natural gas processing, water infrastructure and renewable energy investments.
Meanwhile, BP (BP - Free Report) recently strengthened its commitment by signing an agreement to redevelop the Kirkuk oil fields, while ConocoPhillips agreed to acquire a 42% interest in the project, reinforcing the industry's continued confidence in Iraq's resource base.
Chevron's Iraq Strategy Could Boost Its International PortfolioChevron's latest discussions therefore represent more than a return to Iraq — these reflect a potential effort to secure a stronger position in one of the world's most strategically important oil markets. If these preliminary agreements ultimately lead to operating contracts and investment approvals, the company could meaningfully expand its international upstream portfolio while joining other global energy majors that are increasing their investments in Iraq.
Over the past year, Chevron's shares appreciated 21.7%, delivering a solid positive return. However, the stock lagged key integrated energy peers, including ExxonMobil, TotalEnergies and BP’s rise of 38.8%, 38.1% and 29.6%, respectively.
One-Year Share Price Comparison
Image Source: Zacks Investment Research
How Chevron's Valuation Compares
Image Source: Zacks Investment Research
Chevron's trailing P/E ratio stands at approximately 13.5x, slightly below ExxonMobil's 14x. However, its valuation remains substantially higher than BP's 9.19x and TotalEnergies' 8.61x, suggesting investors are willing to pay a higher multiple for the stock than for those European oil majors.
Earnings Outlook and Zacks Rank
Image Source: Zacks Investment Research
Over the past 60 days, the Zacks Consensus Estimate for 2026 earnings has decreased 0.89%, while the estimate for 2027 has increased 3.6%.
Final ThoughtsCVX's renewed engagement with Iraq comes at a time when global energy companies are competing for access to large, low-cost, long-life oil reserves. While the company's discussions remain at an early stage, potential investments in West Qurna 2, Nassiriya and export infrastructure could strengthen CVX's international production portfolio and support long-term growth.
Currently, CVX has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Dceřiná společnost Chevronu, Hess Exploration and Production Malaysia, udělila společnosti Velesto Drilling kontrakt za 51 milionů USD na integrované vrtné a dokončovací práce v North Malay Basin. Program poběží v letech 2026 až 2028.
Key Takeaways Chevron subsidiary awarded Velesto Drilling a $51 million i-RDC contract for the North Malay Basin campaign.CVX will deploy the NAGA 8 jackup rig to support drilling and completion work for the 2026-2028 program.CVX continues using an integrated drilling model to improve efficiency and support sustained gas production. Chevron Corporation (CVX - Free Report) has strengthened its offshore Malaysia development plans after its subsidiary, Hess Exploration and Production Malaysia, awarded Velesto Drilling a $51 million contract for integrated rig, drilling and completion (i-RDC) services, according to Offshore Magazine. The contract supports the 2026-2028 North Malay Basin Full Field Development campaign, reinforcing ongoing efforts to sustain gas production from one of Malaysia's key offshore energy hubs.
The award marks another important milestone in the long-standing collaboration between the companies and further expands Velesto Drilling's role in the North Malay Basin development program. As part of the agreement, the NAGA 8 jackup rig will be deployed for the campaign after completing its current assignment in Malaysia.
CVX Expands Malay Basin Development Through Its SubsidiaryHess Exploration and Production Malaysia, now a Chevron subsidiary following its acquisition of Hess, continues to operate several gas-producing assets offshore Malaysia. The latest contract highlights Chevron's commitment to advancing the development of the North Malay Basin while maintaining operational continuity across its offshore portfolio.
The North Malay Basin remains one of Malaysia's most significant offshore gas-producing regions, supplying natural gas for domestic industries as well as regional energy markets. Development activities in the basin have progressed through multiple drilling phases designed to sustain production and maximize recovery from existing producing fields.
By awarding this integrated drilling contract, Chevron continues to support long-term field development while streamlining offshore operations through an integrated service model.
Velesto Drilling Secures Second i-RDC Contract for North Malay BasinThe latest award represents Velesto Drilling's second i-RDC contract for the North Malay Basin Full Field Development.
Under the i-RDC framework, the contractor delivers a bundled package that combines drilling rig services, drilling operations and well-completion services under a single contract. This integrated approach is intended to improve operational efficiency while reducing project interfaces between multiple service providers.
The contract further strengthens Velesto's position within Malaysia's offshore drilling sector and reflects continued participation in Chevron-operated development campaigns across the North Malay Basin.
NAGA 8 Jackup Rig Selected for Multi-Year Development CampaignAccording to the news, to execute the newly awarded project, Velesto Drilling will allocate the NAGA 8 jackup rig for operations associated with the North Malay Basin campaign.
The drilling program is scheduled to begin next month, allowing the rig to transition directly from its current assignment. NAGA 8 is presently completing drilling activities for Jadestone Energy (Malaysia) under the East Belumut Phase 9 infill drilling project.
Following completion of the existing work scope, the rig will move into the Chevron-operated campaign, supporting drilling and completion activities through the planned 2026-2028 development period.
The deployment ensures continuity for the rig while supporting Chevron's long-term offshore development objectives in Malaysia.
North Malay Basin Remains a Strategic Offshore Gas HubThe North Malay Basin gas fields, located offshore Peninsular Malaysia, form an important component of Malaysia's offshore natural gas production network.
The region has undergone phased field development programs focused on maintaining production from mature assets while maximizing hydrocarbon recovery. These drilling campaigns continue to play an important role in supporting reliable gas supplies for domestic industrial demand and regional energy markets.
As development progresses, integrated drilling campaigns remain central to improving operational coordination and execution across multiple offshore wells.
The latest contract reinforces continued activity within one of Malaysia's most active offshore drilling regions while supporting future field development objectives.
Integrated Drilling Model Supports Operational EfficiencyThe i-RDC structure adopted for the North Malay Basin campaign combines several critical offshore services into a unified operational framework.
Rather than managing separate drilling, rig and completion contracts, the integrated model enables a single contractor to coordinate multiple project components. This approach is intended to improve workflow efficiency, reduce operational interfaces and simplify project execution throughout the drilling campaign.
For long-term offshore developments involving multiple wells, integrated contracting models can provide greater operational consistency across different phases of field development.
The North Malay Basin campaign continues this approach, building upon previous integrated drilling programs in the region.
Velesto Extends Presence in Malaysia's Offshore Drilling MarketThe new contract further extends Velesto Drilling's footprint within Malaysia's offshore energy sector.
Its continued involvement in the North Malay Basin demonstrates the company's established role in supporting offshore gas development programs operated by Chevron. Securing a second i-RDC award for the basin also reflects the continuation of an existing working relationship on one of Malaysia's most active offshore development projects.
The multi-year nature of the campaign positions the company for sustained operational activity while supporting ongoing offshore drilling efforts in the region.
Recent NAGA 8 Contract Termination Offshore IndonesiaBefore receiving the North Malay Basin award, Velesto Drilling and PETRONAS North Ketapang agreed earlier this week to terminate a contract involving the NAGA 8 jackup rig for offshore Indonesia.
With the Malaysian development campaign scheduled to begin next month, the rig will transition from its current Malaysia assignment into the Chevron-operated North Malay Basin program.
The new deployment ensures that NAGA 8 remains engaged in offshore drilling operations while supporting continued field development activities in Malaysia.
Chevron Advances Offshore Malaysia DevelopmentThe integrated drilling and completion contract awarded by a Chevron subsidiary reinforces the ongoing development of the North Malay Basin Full Field Development campaign. By selecting Velesto Drilling and deploying the NAGA 8 jackup rig, Chevron continues advancing offshore gas development in Malaysia through an integrated operational model designed to support drilling efficiency and sustained production from one of the country's key offshore gas regions.
CVX's Zacks Rank & Key PicksCurrently, CVX has a Zacks Rank #3 (Hold).
Investors interested in the energy sector might consider some better-ranked stocks, such as Par Pacific (PARR - Free Report) , Delek US Holdings (DK - Free Report) , both sporting a Zacks Rank #1 (Strong Buy), and Cheniere Energy (LNG - Free Report) , carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Par Pacific is valued at 3.88 billion. It is a diversified energy company that owns and operates petroleum refineries, logistics assets and retail fuel businesses across the United States. Par Pacific focuses on refining, transporting and marketing fuel products while serving regional markets with reliable energy solutions.
Delek US Holdings is valued at $3.87 billion. It is a diversified downstream energy company engaged in petroleum refining, renewable fuels, asphalt production and logistics operations. Delek US Holdings operates multiple refineries in the United States and is committed to delivering safe, reliable energy while investing in cleaner energy initiatives.
Cheniere Energy is valued at $56.52 billion. It is a leading U.S. producer and exporter of liquefied natural gas (“LNG”), supplying energy to customers across more than 40 international markets. Cheniere Energy operates major LNG export terminals in Louisiana and Texas and focuses on providing reliable, lower-carbon energy solutions.
Chevron uzavřel s Microsoftem 20letou smlouvu na dodávku plynu pro datové centrum pro AI v Texasu, kde bude pohánět turbíny GE Vernova o výkonu 2,7 gigawattu. Firma to bere jako test, ale vidí v tom platformu pro další růst.
Integrated energy outfit Chevron (CVX +1.92%) is looking beyond the traditional oil and gas business for growth opportunities. That's the chief takeaway from a late-June press release in which the company announced it was working with Microsoft to power one of its new artificial intelligence (AI) data centers in West Texas, bypassing local electric utilities.
This is just a taste, however, of the direction the energy company is moving in now that it has the option to do so.
Image source: Getty Images.
Adapting to the demands of the revolution It's not a complicated arrangement. Software powerhouse Microsoft's artificial intelligence data center in West Texas needs power. Rather than tapping a nearby utility for what may or may not be an adequate or affordable supply, the tech giant is installing 2.7 gigawatts' worth of natural gas power turbines made by GE Vernova, which will use gas supplied directly by Chevron for a contracted period of 20 years.
It's obviously not Chevron's usual business model. But these are unusual times. AI data center-driven demand for electricity is straining producers. So, operators are taking matters into their own hands, largely because they can. Reliable natural gas power turbines are now available at scale, and Chevron has the infrastructure in the region to make a direct natural gas supply feasible.
For now, the agreement looks more like a test than a new business venture, but that's apt to change eventually. As Chevron's president of new energies, Jeff Gustavson, commented in an interview following the announcement, "If we can get to a returns equation that works for our company and our shareholders, you can expect to hear more from us going forward." For clarity, Gustavson made a point of adding, "This does represent a platform for growth for us." High-opportunity areas include the Midwest, the Gulf Coast, the Rocky Mountains, and Utah -- all areas where the company's already got established infrastructure.
And it should pursue them. Although these so-called "behind-the-meter" natural gas-burning power plants aren't unheard of, they've also only scratched the surface of the underlying opportunity. For perspective on the sudden surge in demand, Bloomberg notes that roughly 100 gigawatts' worth of behind-the-meter gas power has been planned or permitted specifically for U.S. data centers, but only 2 GW is currently up and running. Separately but simultaneously, PwC believes AI-driven demand for natural gas could more than quintuple over the next 10 years, with much of it being directly burned by the end user rather than a utility company.
The more Chevron can steer this evolution, the better.
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Cool stories alone don't produce meaningful cash It's an exciting prospect to be sure, simply because the idea solves a very real problem that's only apt to grow before it starts to shrink. It's also just pretty cool to see companies collaborating creatively to come up with solutions that at one point would have been unthinkable. And, it's worth mentioning that Chevron is tinkering with man-made alternatives to natural gas, if and when that time comes.
Just don't let this be the chief reason you step into a stake. It will be years before this venture grows into something that could make a noticeable difference in Chevron's gas-and-oil-driven bottom line.
Chevron reportedly plans to sign early-stage deals Friday to invest in Iraqi oil fields and consider the construction of a pipeline connecting Iraq’s reservoirs to the Syrian coast as oil majors seek workarounds for the Strait of Hormuz.
As the US and Iran have renewed strikes in the Middle East, major oil producers – including Iraq – have been desperately searching for alternatives to the strait, a vital maritime route for 20% of the world’s oil supplies that has been effectively blockaded during the war.
Nations across the Persian Gulf have poured billions of dollars into new pipelines, rail corridors and energy storage hubs to skirt around the strait – and now Chevron is considering getting in on the action, according to the Wall Street Journal.
Chevron reportedly plans to sign early-stage deals in Iraqi oil fields. Anadolu via Getty Images The Houston, Tex.-based oil major is considering rebuilding a pipeline from Kirkuk, Iraq, to the Syrian port of Baniyas on the Mediterranean Sea, a senior Chevron official told the outlet.
An oil pipeline tracing along that route has been shut down for more than two decades after it was badly damaged in 2003 during the US’ invasion of Iraq.
Chevron will join a consortium of investors that plan to conduct studies to determine whether they should build a new pipeline in its place or update existing infrastructure, according to the exec.
The company has been in talks with the Iraqi government for 12 to 18 months and the preliminary deals are a “long ways from the finish line,” he said.
On Thursday, Iraqi Prime Minister Ali Al Zaidi visited Chevron’s headquarters in downtown Houston to meet a group led by Chevron Vice Chairman Mark Nelson.
The prime minister met with President Trump in the Oval Office on Tuesday.
“The United States is facilitating conversation between Iraq and Syria on future energy development projects and supports the growing diplomatic relationship between the two countries,” a senior Trump administration official told The Post.
Iraqi Prime Minister Ali Al Zaidi (above) met with President Trump in the Oval Office Tuesday. Graeme Sloan – Pool via CNP/Shutterstock Chevron confirmed it is discussing possible investments in two Iraqi oil fields, the Nasiriyah and West-Qurna-2.
“Chevron looks forward to sharing its expertise in successfully developing oil and gas projects to support Iraq in further developing its energy resources,” a spokesperson told The Post.
The company declined to comment on reported talks about a pipeline, saying it does not comment on third-party statements or commercial matters.
The news comes as strikes ramped up in the Middle East this week after President Trump announced a ceasefire with Iran was “over,” reversing declines in gasoline prices.
On Thursday, American diesel prices rose above $5 a gallon again, hitting an average price of $5.01, according to AAA.
Regular gasoline prices hit $3.94 a gallon Thursday – below its peak of $4.56 in the spring, but on the incline again and about 10 cents higher than this time last week.
Diesel prices rose above $5 a gallon again Thursday. Weston Hancock/SOPA Images/Shutterstock As the on-and-off blockade of the Strait of Hormuz has caused the worst-ever global energy supply disruption, experts have warned it could take many months for gasoline to fall below the $3 level – and that’s only if a permanent peace deal to keep the strait open is reached.
Trump said this week that the strait is reopened for all nations except Iran, but safety concerns remain as Tehran is still able to strike at commercial shipping vessels in the waterway.
Elevated energy prices have already started to weigh on households, but it has yet to be seen whether they will have a lasting inflationary effect – as economists warn higher fuel prices could hike costs for food, apparel, furniture and virtually anything that travels via truck.
Economic data released this week indicated higher energy prices have yet to fully bleed through to consumer goods – but Federal Reserve officials warned one good inflation report isn’t enough to dispel concerns.
The White House did not immediately respond to The Post’s request for comment.
Chevron v pátek podepíše s iráckou vládou memoranda o porozumění k rozvoji podílů v polích West Qurna 2 a Nassiriya. Dohoda má posunout podmínky ke konečnému převzetí West Qurna 2.
A Chevron logo at the Chevron building in Houston, Texas, U.S. August 19, 2025. REUTERS/Kaylee Greenlee Purchase Licensing Rights, opens new tab
SummaryCompaniesWest Qurna 2 currently produces about 460,000 barrels per dayFriday's preliminary agreement would progress commercial terms toward a final West Qurna 2 takeover deal, the executive saidChevron is also discussing pipeline routes to bypass the Strait of Hormuz, the executive saidHOUSTON, July 16 (Reuters) - Chevron will sign memorandums of understanding on Friday with the Iraqi government to advance the U.S. oil major's interests in the West Qurna 2 and Nassiriya oilfields, according to a senior Chevron executive.
The company is also continuing talks with Iraq to produce technical studies and evaluate potential pipeline routes to transport crude out of the country and bypass the Strait of Hormuz, the executive said.
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Iraqi Prime Minister Ali al-Zaidi, who took office in May, visited Chevron's Houston headquarters on Thursday as part of a five-day trip to the U.S., which included a meeting with President Donald Trump on Tuesday.
Iraq's government is seeking to secure U.S. partnerships during this week's visit to the U.S. to help boost its oil output. In February, Chevron moved into exclusive talks with Iraq for West Qurna 2, one of the world's largest oilfields that currently produces about 460,000 barrels per day.
The preliminary agreement on Friday will progress commercial terms and help lead to a final agreement for Chevron to take over the oilfield, the senior executive said.
Chevron and Iraq signed an agreement in principle last August to develop the Nassiriya oilfield project that consists of four exploration blocks in addition to the development of other producing oil fields.
Reporting by Sheila Dang in Houston; Editing by Nathan Crooks and Chizu Nomiyama
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Chevron uzavřel s Alinta Energy novou dlouhodobou smlouvu na dodávky 46 petajoulů plynu v letech 2027 až 2032. Plyn půjde z Gorgon, Wheatstone a North West Shelf Project.
Key Takeaways Chevron will supply 46 petajoules of gas to Alinta Energy from 2027 through 2032.CVX will source gas from Gorgon, Wheatstone and the North West Shelf Project.Chevron said Gorgon and Wheatstone supply about 40% of Western Australia's domestic gas needs. Chevron Corporation’s (CVX - Free Report) Australian affiliate, Chevron Australia Pty Ltd, has signed a new long-term natural gas supply agreement with Alinta Energy, reinforcing its commitment to supporting Western Australia's (WA) energy security. Beginning in July 2027, Chevron will supply 46 petajoules of natural gas over five years from its interests in the Gorgon and Wheatstone facilities, as well as the North West Shelf Project.
The agreement extends a partnership spanning more than four decades and ensures a reliable source of natural gas for households, businesses and industrial customers across Western Australia. It also highlights the growing importance of long-term supply contracts as the state balances rising energy demand with the transition to a lower-carbon future.
Five-Year Agreement Secures Reliable Gas SupplyUnder the agreement, Chevron will provide Alinta Energy with 46 petajoules of natural gas between 2027 and 2032. The supply will come from three of Western Australia's most significant gas assets — Gorgon, Wheatstone and the North West Shelf Project.
The long-term contract provides Alinta Energy with greater certainty over its fuel portfolio while helping ensure stable energy supplies for its retail and commercial customers.
CVX Is Supporting Western Australia's Energy SecurityChevron emphasized that its major LNG developments continue to play a vital role in the state's domestic energy market. According to the company, the Gorgon and Wheatstone facilities together supply approximately 40% of Western Australia's domestic gas needs.
Reliable natural gas remains essential for electricity generation, mining operations and other energy-intensive industries. By securing long-term supply, the agreement supports the continued availability of dependable and affordable energy throughout the state.
A Partnership Built Over Four DecadesThe latest agreement builds on a long-standing relationship between Chevron and Alinta Energy that has existed for more than 40 years. Both companies highlighted the importance of trusted partnerships in maintaining consistent gas supplies and supporting customers during an evolving energy landscape.
For Alinta Energy, access to long-term production from established projects strengthens its ability to serve households, businesses and industrial users while adapting to changing energy demands.
A Long-Term Commitment to Reliable Gas SupplyThe new agreement demonstrates Chevron's continued focus on maximizing the value of its Australian gas portfolio while supporting domestic energy needs. At the same time, it provides Alinta Energy with greater supply certainty from proven gas projects.
As Western Australia continues to require reliable energy alongside its transition toward lower-emission sources, partnerships like this are expected to remain an important part of maintaining energy security and supporting economic activity across the region.
CVX’s Zacks Rank & Key PicksChevron is one of the largest publicly traded oil and gas companies in the world, with operations that span almost every corner of the globe. Currently, CVX carries a Zacks Rank #3 (Hold).
Investors interested in the energy sector may consider some top-ranked stocks like Suncor Energy Inc. (SU - Free Report) , Par Pacific Holdings, Inc. (PARR - Free Report) and Imperial Oil Limited (IMO - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Alberta-based Suncor Energy is Canada's premier integrated energy company. The company's operations include oil sands development and upgrading, conventional and offshore crude oil and gas production, petroleum refining and product marketing. The Zacks Consensus Estimate for SU’s 2026 earnings indicates 114.2% year-over-year growth.
Houston, TX-based Par Pacific Holdings is a growth-oriented energy company supplying conventional and renewable fuels across the western United States. Its integrated platform sources crude, refines transportation fuels and distributes products. The Zacks Consensus Estimate for PARR’s 2026 revenues indicates 123.8% year-over-year growth.
Calgary-based Imperial Oil is one of the largest integrated oil companies of Canada, mainly engaged in oil and gas production, petroleum products refining and marketing and chemical business. The Zacks Consensus Estimate for IMO’s 2026 earnings indicates 69.2% year-over-year growth.
Exxon Mobil ve 2. čtvrtletí čeká nárůst zisku o 5 miliard USD na 15,7 miliardy USD, ale ropní giganti neplánují výrazně zvyšovat těžbu. Místo toho sázejí na zpětné odkupy akcií a snižování dluhu.
The US energy industry is bracing for a huge windfall from the Iran war, but oil majors aren’t planning to ramp up drilling – even as the Trump administration pushes them to lower gasoline costs.
President Trump has repeatedly pressured American energy giants to “Drill, baby drill!” and recently threatened to investigate the industry for price-gouging as Americans feel pain at the pump – a concern for Republicans ahead of the midterms.
But oil majors are reluctant to build out more rigs and wells, resisting White House pressure as they claim their bumper profits are just a temporary boost.
The US energy industry is bracing for a huge windfall – but oil majors are hesitant to ramp up production. USA TODAY Network via Reuters Connect “I think the industry is strong,” Joe Adamski, managing director of ProcureAbility, a supply chain consultancy, told The Post. “We are sitting at a very good position compared to the rest of the world … [but] oil companies are looking at it and saying this is a blip on the radar.”
In a preview of its second-quarter earnings, Exxon Mobil said this week it could see a $5 billion jump in profits – pushing adjusted earnings to $15.7 billion, or triple the previous quarter.
Experts said Chevron and Shell are also expected to report blowout second-quarter earnings later this month, similar to their first-quarter results – which came in 45% and 37% higher than expected, respectively.
“It’s going to be extra billions of dollars, as we saw with Exxon Mobil,” Jeff Krimmel, founder of Krimmel Strategy Group, told The Post. “It’ll be a multibillion gain across the industry just based on all the disruptions that continue to exist that really peaked toward the end of the second quarter.”
Big markups The huge windfall for US oil majors comes as attacks on vessels and airstrikes in the Middle East have largely choked off the Strait of Hormuz, a vital maritime route for 20% of the world’s oil. That has sent demand skyrocketing for alternatives like US crude, which peaked above $110 a barrel in April.
Markups on US crude jumped to an all-time high – as much as an extra $30 to $40 a barrel – as Asian and European refiners competed for the limited supply while scrambling to replace Middle Eastern oil stuck in the strait.
As of Friday, US crude oil futures traded at $71.25 a barrel while Brent crude hit $75.61 – set to end the week higher after Trump said the ceasefire with Iran was “over” and military strikes near the Persian Gulf again derailed traffic through the strait.
Trump has been pushing for more fossil fuel output, repeatedly urging companies to expand drilling operations and declaring a national energy emergency on the first day of his second term in January 2025.
US crude oil production hit a new record in 2025, according to the US Energy Information Administration. Bloomberg via Getty Images Last year, the Interior Department issued an aggressive proposal to expand offshore drilling near Florida and along the entire California coastline – fueling fierce pushback from local politicians fearful of oil spills.
In March, the Trump administration exempted drilling in the Gulf of America from the Endangered Species Act, citing “national security” concerns about oil supplies amid the war in Iran. Conservationists have decried the move, citing a risk to wildlife, particularly endangered whales.
Despite the policy changes, oil majors have been reluctant to spend their profits on building out more rigs and wells, as they expect demand to normalize quickly once the war ends unless there is severe lasting damage.
In a worst-case scenario for the oil industry, OPEC – the world’s most powerful oil cartel – could fall apart, and dominant Saudi Arabia could ramp up its energy production too far for others to compete, potentially sending oil as low as $40 a barrel, according to a CNN report.
Efficiencies, not new drilling US giants’ stance does not mean production has been slowing. US crude oil production hit a new record in 2025 of 13.6 million barrels per day according to the US Energy Information Administration. By comparison, the entirety of Europe, excluding Russia, reportedly produced about 4 million barrels per day – or less than 4% of the global share.
However, it was efficiencies like better equipment and technology – not extra drilling – that helped boost production last year, according to Krimmel.
In a preview ahead of its second-quarter earnings, Exxon Mobil said this week that it could see a jump of $5 billion. Christopher Sadowski The number of active rigs and wells that were drilled in the US actually dipped, according to the EIA.
“We saw oil prices get above $90, even $100 temporarily during this war, and there was no huge rush to add rigs, to add production,” Krimmel said. “We already had a production surplus going into the war. A lot of analysts are expecting to reapproach that surplus as these flows normalize now.”
In May, Exxon Mobil and Chevron said that despite the Iran war, they did not intend to drill much more oil than initially planned.
Adamski said fears of political blowback are also likely keeping oil majors from building out new rigs, an expensive process that can take years and face opposition from environmentalists.
“They are sensitive to being in a political storm, that they would have a target on their back and Congress will start talking again about windfall profit taxes and things like that,” Adamski said.
“So they want to avoid putting in the appearance that they are taking advantage of this, so instead they’re doing share buybacks, they are paying down debt. They’re doing things like that.”
Pain at the pump But oil majors’ massive profits could draw scrutiny as the war in Iran eats into wallets, costing Americans roughly $1,000 per household in higher fuel, food and other expenses, according to economist Mark Zandi.
Trump has been eager to lower gasoline prices ahead of the November midterms, most recently heralding a new chain of gas stations on social media that are selling gas for $3.479 a gallon – well below market prices and wholesale costs.
The White House said these “Freedom Fuel” stations, which are mostly located near Philadelphia and in southern New Jersey, are run by a private company with no government support. It is unclear who is running the stations and for how long.
Last week, the Department of Justice asked state attorneys general to investigate potential antitrust violations by energy giants – after Trump accused them of price-gouging.
“I have instructed the DOJ to immediately start looking into this. Gasoline prices better start going down a lot faster than what I’m seeing!” the president wrote in a Truth Social post in June.
Gas has been slower to come down than oil, hitting $3.88 a gallon Friday after peaking at $4.56 this spring, according to AAA – but experts said that is a normal reaction since there is typically a lag between gasoline and oil prices.
“It really is just politics. The public gets angry when gas prices go up, and politicians need to be seen as being responsive to that anchor,” Krimmel told The Post.
“That’s about the extent of the action that you’ll see out of the federal government…There is zero indication that anything nefarious is happening there.”
Chevron uzavřel s Microsoftem 20letou smlouvu na dodávku elektřiny pro datové centrum v západním Texasu. Projekt Kilby má po etapách dodat 2,67 GW od roku 2028.
Key Takeaways Chevron signed a 20-year deal to power a Microsoft West Texas data center with a gas-fired facility.Chevron expects Project Kilby to deliver 2.67 GW in phases from 2028 with mid-teen return targets.Chevron posted higher Q1 2026 production and returned $6B via dividends and buybacks during the quarter. Chevron Corporation (CVX - Free Report) is expanding beyond its traditional oil and gas business by entering one of the fastest-growing markets in the global economy — artificial intelligence (“AI”) infrastructure. The company recently signed a 20-year power purchase agreement with Microsoft Corporation (MSFT - Free Report) to develop a dedicated natural gas-fired power facility for a West Texas data center. The deal highlights CVX's strategy to capitalize on rising electricity demand from AI data centers while creating a new source of long-term cash flows.
The announcement follows Chevron's solid first-quarter 2026 operating performance, supported by higher production from legacy Hess assets, the Permian Basin and the Gulf of America. While the Microsoft partnership opens an entirely new growth avenue, investors must assess whether this opportunity is significant enough to justify buying the stock today.
Chevron's Microsoft Deal Creates a New Growth PlatformUnder the agreement, CVX's subsidiary, Energy Forge One, will develop Project Kilby, a co-located natural gas-fired power facility dedicated to supplying electricity to a Microsoft-operated data center in West Texas under a 20-year power purchase agreement.
Project Kilby is expected to provide approximately 2.67 gigawatts of generating capacity through a phased buildout, with first power targeted for 2028. Management expects the project to generate diversified cash flows that are largely independent of oil and natural gas price cycles while targeting mid-teen investment returns. By supplying electricity directly to the MSFT-operated data center rather than the regional grid, CVX also expects greater reliability for AI workloads.
For CVX, the agreement represents more than a single infrastructure project. It reveals how the company can leverage its Permian natural gas resources, engineering expertise and project execution capabilities to participate in the long-term growth of AI infrastructure. If CVX secures similar agreements with additional hyperscale customers, this business could become a meaningful complement to its traditional upstream operations.
Chevron's Core Business Remains StrongBeyond the Microsoft agreement, Chevron continues to deliver solid operational results. During the first quarter of 2026, worldwide production increased 15% year over year to 3.86 million barrels of oil equivalent per day, while U.S. production climbed 24%, driven by the Hess acquisition and continued growth in the Permian Basin and the Gulf of America.
The company also maintained one of the industry's strongest shareholder-return programs, distributing $6 billion through dividends and share repurchases during the quarter. This marked CVX's 16th consecutive quarter of returning more than $5 billion to its shareholders. Management also reaffirmed its capital spending guidance and structural cost-reduction target of $3-$4 billion by the end of 2026.
These strengths give CVX the financial flexibility to invest in long-duration infrastructure projects without compromising shareholder returns.
ExxonMobil and Shell Could Also Benefit From AI DemandCVX is not the only integrated energy company seeking to benefit from AI-driven electricity demand.
ExxonMobil (XOM - Free Report) is leveraging its extensive natural gas resources while evaluating opportunities to provide lower-carbon electricity solutions for hyperscale data centers. Like CVX, ExxonMobil believes AI-driven power demand could become an important source of long-term natural gas consumption.
Meanwhile, Shell plc (SHEL - Free Report) is approaching the opportunity through its integrated gas and LNG business. As one of the world's largest LNG suppliers, Shell is well positioned to benefit from rising natural gas demand as AI data centers require reliable, around-the-clock electricity. Shell's global LNG portfolio provides additional flexibility to serve markets experiencing rapid AI infrastructure expansion.
We believe Chevron is among the first integrated energy companies to secure a long-term commercial agreement to supply dedicated power for a hyperscale AI data center.
Risks Should Not Be IgnoredAlthough Project Kilby strengthens Chevron's long-term growth outlook, the project remains in its early stages. Final investment approval is expected later this year, while commercial operations are targeted for 2028. Key uncertainties continue to include construction costs, execution risks, regulatory approvals, customer expansion and potential risks associated with an AI bubble.
In addition, the project's financial contribution is likely to remain modest relative to CVX's overall earnings during the initial years. The company's near-term results will continue to depend primarily on crude oil prices, refining margins and upstream production growth.
Valuation Remains Reasonable Despite AI Growth PotentialFrom a valuation perspective, CVX trades at a forward P/E ratio of about 12.22, compared with ExxonMobil at 12.31 and Shell at 8.52. This makes Shell the least expensive among the three on an earnings basis.
Image Source: Zacks Investment Research
Analysts Expect Steady Earnings GrowthOver the past 60 days, the Zacks Consensus Estimate for CVX's earnings per share has increased 1.73% for 2026 and 4.95% for 2027.
Image Source: Zacks Investment Research
Over the past year, CVX’s shares have gained roughly 13.8%, while ExxonMobil has advanced about 20.7% and Shell has risen approximately 13.5%.
Share Price Performance Comparison
Image Source: Zacks Investment Research
Is CVX Stock a Buy?The partnership with Microsoft gives Chevron an attractive long-term growth narrative by connecting one of the world's largest energy companies with one of the fastest-growing sources of electricity demand. Combined with strong production growth, disciplined capital allocation and consistent shareholder returns, Chevron is building an additional avenue for growth beyond its traditional energy business.
However, the financial impact of Project Kilby remains several years away and CVX continues to face the commodity-price volatility that affects the broader energy sector. With a Zacks Rank #3 (Hold), CVX appears suitable for long-term investors seeking exposure to a financially strong integrated energy company that is gradually expanding into AI infrastructure. Investors may prefer to wait for additional execution milestones before becoming more aggressive on the stock.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Coca-Cola, American Express a Chevron v posledních šesti měsících zvýšily dividendy. Všechny tři jsou dlouholeté Buffettovy pozice s odlišným profilem výnosu a růstu.
Warren Buffett spent decades assembling Berkshire Hathaway’s equity book around a simple principle: Own high-quality businesses that produce predictable cash flow and share it with owners. Three of the longest-tenured holdings in that portfolio, Coca-Cola, American Express, and Chevron, all pushed their dividends higher over the past six months, and each offers a distinct income and growth profile heading into the back half of 2026. Here’s why July is a reasonable window for investors to examine each one.
Coca-Cola (KO) Coca-Cola (NYSE:KO | KO Price Prediction) has been the archetypal Buffett income holding for decades, and the fundamentals still look sturdy. The company delivered $816 million in dividend income to Berkshire in 2025 alone, on a cost-basis yield that Berkshire’s disclosures pegged at 65%. That is what compounding at scale looks like.
Q1 2026 results reinforced the thesis. Coca-Cola posted EPS of 86 cents against the 81 cents expected, with revenue of $12.47 billion up 12.1% year over year and organic revenue growth of 10%. Operating margin expanded to 35.0% from 32.9%, and Coca-Cola Zero Sugar volume grew 13%. Management guided FY2026 organic revenue growth to 4-5% and comparable EPS growth to 8-9%.
The current quarterly dividend sits at 53 cents per share, up from 51 cents in 2025, extending a streak of annual increases that now stretches back more than six decades. Shares traded around $83.93 on July 8, up more than 21% year to date. The forward P/E of 26 is not cheap and a dividend yield of 2.53% reflects that.
The risk: FX headwinds, a $960 million BODYARMOR impairment, and roughly 4% headwind from divestitures including the pending Coca-Cola Beverages Africa sale can weigh on reported growth even as the underlying business hums.
American Express (AXP) American Express (NYSE:AXP) is the growth engine of the Buffett dividend trio. The company recently raised its quarterly dividend from $0.82 to $0.95 per share, roughly a 16% bump, and Berkshire collected $479 million in AXP dividend income during 2025 on a 44% cost-basis yield. The stock has gained nearly 125% since the start of 2023, elevating its weight in Berkshire’s equity portfolio.
Q1 2026 numbers were strong across the board. AXP reported EPS of $4.28 versus $3.99 expected, revenue of $18.91 billion, and net income of $2.97 billion, up 15%. Billed business hit $428.0 billion, and card member spending climbed 10%, the highest quarterly growth in three years. Net card fee revenues grew double digits for a 30th consecutive quarter. The write-off rate improved to 2.0% from 2.1%. Management reaffirmed FY2026 guidance of 9% to 10% revenue growth and EPS of $17.30 to $17.90.
CEO Stephen J. Squeri said, “We had a very strong start to the year, reflecting continued momentum across our premium customer base.” Shares traded around $337.34 on July 8 after an 8.02% rally over the past month, with a forward P/E of 20 and analyst target of $366.58.
The risk: Macro and geopolitical uncertainty, potential credit card interest rate caps, and rising variable engagement costs could compress margins if premium spending slows.
Chevron (CVX) Chevron (NYSE:CVX) is the highest-yielding name in this group and the one most tied to the commodity cycle. The quarterly dividend was recently raised to $1.78 per share, up from $1.71, extending a 39-year streak of annual increases. Trailing yield sits near 4.08%.
Q1 2026 marked Chevron’s sixth consecutive EPS beat. Adjusted EPS came in at $1.41 versus 97 cents expected, a 45.56% beat. Worldwide net oil-equivalent production jumped 15% to 3,858 MBOED, powered by the Hess acquisition and record U.S. output above 2 million bpd for a third straight quarter. Chevron repurchased $2.5 billion in Q1, its 16th consecutive quarter returning more than $5 billion to shareholders. In 2025 alone, the company returned $27.1 billion to shareholders.
Wolfe Research upgraded CVX to Outperform with a $210 price target on July 6, citing Guyana as a near-term free cash flow catalyst. CEO Mike Wirth said, “Chevron delivered solid first quarter performance, underscoring the resilience of our portfolio and the value of disciplined execution.” Shares traded around $175.66 on July 8, still up nearly 13% year to date despite a roughly 17% pullback from their 2026 high.
The risk: Citigroup sees Brent falling to $60–$65/barrel by year-end, and Goldman Sachs forecasts a 3 million bpd global oil surplus by 2027. Political friction in California and Venezuela operational uncertainty add to the volatility.
What to Watch Next Each of these Berkshire mainstays offers a different flavor of the same underlying thesis: durable brands, disciplined capital returns, and dividends that keep climbing. Coca-Cola gives defensive stability, American Express supplies dividend growth with premium-consumer torque, and Chevron delivers the highest current yield with commodity optionality. Upcoming Q2 earnings reports across all three will be the next major test.
Chevron Australia uzavřela s Alinta Energy pětiletou smlouvu na dodávky zemního plynu ze Západní Austrálie. Od července 2027 dodá 46 petajoulů z projektů Gorgon, Wheatstone a North West Shelf.
A Chevron logo at the Chevron building in Houston, Texas, U.S. August 19, 2025. REUTERS/Kaylee Greenlee Purchase Licensing Rights, opens new tab
CompaniesJuly 10 (Reuters) - Chevron Australia (CVX.N), opens new tab said on Friday it has signed a long-term agreement with energy retailer Alinta Energy to supply natural gas from its Western Australian portfolio.
Chevron said starting July 2027 it will supply 46 petajoules of gas to its long-standing partner Alinta Energy over a five- year period from across its equity interests in the Chevron-operated Gorgon and Wheatstone facilities, and the North West Shelf Project.
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"Following almost a decade in operation, Gorgon and Wheatstone have become pillars of energy security for the state and together provide approximately 40 percent of WA’s domestic gas supply," Chevron Australia President Balaji Krishnamurthy said in a press release.
Singapore's Sembcorp Industries (SCIL.SI), opens new tab acquired Australian gas and electricity provider Alinta Energy for an enterprise value of A$6.5 billion ($4.32 billion) last year.
Reporting by Swati Verma in Bengaluru; Editing by Kim Coghill
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Chevron umožní rivalům koupit jeho chemickou technologii surfaktantů prostřednictvím společnosti ZL Chemicals, která má zvýšit těžbu z břidlicových vrtů. Podle firmy technologie zvýšila první roční produkci nových vrtů až o 20 %.
Item 1 of 2 A sample of shale rock, which Chevron uses to test its chemical surfactant technology, is shown in this handout photo provided by Chevron on July 7, 2026. Chevron/Handout via REUTERS
[1/2]A sample of shale rock, which Chevron uses to test its chemical surfactant technology, is shown in this handout photo provided by Chevron on July 7, 2026. Chevron/Handout via REUTERS Purchase Licensing Rights, opens new tab
SummaryCompaniesZL Chemicals will sell Chevron's surfactants to other oil producersChevron said surfactants improved first-year output in new wells by up to 20%Average shale oil recovery across industry is 10%HOUSTON, July 8 (Reuters) - Chevron (CVX.N), opens new tab will allow rival oil producers to buy a chemical technology it developed to boost production from shale wells, the company said on Wednesday, as part of a broader push to increase U.S. oil output.
The move comes as the U.S. shale industry, which transformed global energy markets nearly 20 years ago through the fracking boom, grapples with declining well productivity, which experts say is pushing companies either to drill more wells or adopt new technology to sustain output.
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Chevron said it will license its chemical surfactants technology to chemicals manufacturer ZL Chemicals, which will oversee the sales process to other oil companies.
The chemicals that are being licensed to ZL have improved production from newly drilled wells by up to 20% during the first year, and also reduced production decline in existing wells by between 5% and 8%, Chevron said.
"With constraints on energy in the world today, there's a call on oil and gas companies to get more energy to market," Chevron's Chief Technology and Engineering Officer Ryder Booth said in an interview. "This is a way that we can answer the call to help boost production."
U.S. President Donald Trump recently urged oil companies, including Chevron and ExxonMobil (XOM.N), opens new tab, to increase oil output and help bring down gasoline prices during the U.S.-Israeli war with Iran.
IMPROVING OIL RECOVERYChemical surfactants can help reduce damage to the shale formation from the fracturing process and act similarly to soap, cleaning out particles that can get lodged in cracks in the shale rock and prevent oil from flowing. The chemicals then aid the separation of the oil from the underground rock so that it can more easily reach the surface.
During a recent Reuters tour of a Chevron technology lab in Houston, researchers showed a glass vial of crude oil that clung to the sides of the bottle when shaken around.
In another vial that contained both crude and chemical surfactants, the oil flowed easily through the bottle without sticking to the glass, and the oil eventually separated from the surfactants, illustrating how the process can help oil detach from shale rock.
Industry experts say the oil recovery rate in shale is just 10%, with the industry leaving the remaining 90% in the ground because technology is not yet advanced enough to squeeze the rest of the oil out of tight, compacted rock.
Improving the recovery rate is critical because the best drilling areas have been tapped out over time.
"We're at the point where big gains are not there anymore," said Bob Fryklund, chief upstream strategist at S&P Global Energy, though he added that technology advancements have helped the oil industry consistently beat forecasts.
In addition to its own wells, Chevron also holds a royalty interest in some wells in the Permian Basin that are operated by other companies. Licensing the previously proprietary chemical technology means the company could benefit from higher oil production across the top U.S. oilfield.
"This helps unlock production at a bigger scale beyond just the Chevron-operated areas," Booth said.
The company will begin testing a new version of the chemicals technology in the third quarter, he added.
Reporting by Sheila Dang in Houston; Editing by Nathan Crooks and Sonali Paul
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Tanker Chevron Yasa Polaris přepravující ropu pro CPC byl u ruského pobřeží Černého moře zasažen dronem. Chevron uvedl, že posádka je v bezpečí a vývoz z Kazachstánu nebyl ovlivněn.
CompaniesMOSCOW, July 8 (Reuters) - Chevron's (CVX.N), opens new tab Yasa Polaris oil tanker, used for Caspian Pipeline Consortium shipments, was attacked by a drone off Russia's Black Sea coast, two industry sources said on Wednesday.
Chevron said on Monday it was aware of an incident with a vessel heading to the Caspian Pipeline Consortium's loading facilities near Russia's Black Sea port of Novorossiysk and the crew was safe, while exports from Kazakhstan were not affected.
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The Chevron-led Tengizchevroil oil company is the major exporter of CPC Blend oil sourced mainly from a giant Tengiz oil field it operates in Kazakhstan.
Yasa Polaris is an oil tanker built in 2022 and able to carry about 160,000 metric tons of oil, according to LSEG data. The vessel is managed by Yasa Holding registered in Turkey. The shipmanager did not immediately answer a Reuters request for a comment.
Ukraine has targeted the CPC oil terminal and vessels carrying oil in the Black Sea area many times since the start of the war in 2022. Last year one of single point moorings at the CPC terminal was heavily damaged in an attack.
The Caspian Pipeline Consortium plans to export about 1.6 million barrels per day of CPC Blend crude in July, down from around 1.7 million bpd planned for June after drone damage to a Russian gas facility meant output had to be reduced, two trading sources said.
Reporting by Olesya Astakhova in Moscow and Ron Bousso in London. Editing by Mark Potter and Louise Heavens
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Exxon Mobil a Chevron míří k nejsilnějším čtvrtletním ziskům za roky, tažené vyššími cenami ropy a silnými rafinačními maržemi. Trump zároveň tlačí na ropný průmysl, aby před listopadovými mezivolbami snížil ceny benzínu.
America’s biggest oil companies are poised to post their strongest quarterly earnings in years — as President Donald Trump has been ramping up pressure on the industry to lower gas prices ahead of November’s midterm elections.
Exxon Mobil and Chevron are expected to report second-quarter profits that are more than three times higher than in the first three months of the year, fueled by a surge in crude prices after the US-Israeli conflict with Iran disrupted global energy markets, Reuters reported.
LSEG estimates project Exxon will earn roughly $15.9 billion in adjusted net income, while Chevron is forecast to post about $9.9 billion.
The anticipated windfall could create political headaches for the White House, which has made lowering fuel costs a priority as drivers continue to face elevated prices at the pump.
Exxon Mobil is expected to report second-quarter profits that are more than triple its first-quarter earnings, according to analyst estimates. Christopher Sadowski for NY Post “Gasoline Retailers must get their Prices down, IMMEDIATELY!” Trump wrote in a June 29 social media post.
Although benchmark crude has largely retreated to levels seen before the conflict, gasoline prices remain significantly higher.
Analysts attribute the disconnect to tight fuel inventories, strong export demand and unusually high refining margins rather than crude prices alone.
The administration has intensified scrutiny of the industry, with the Justice Department examining potential gasoline price gouging.
Treasury Secretary Scott Bessent has also warned refiners and producers that additional administrative measures remain possible if retail prices fail to fall.
Behind the scenes, oil industry lobbyists have increased outreach to lawmakers and administration officials as companies seek to counter criticism over fuel prices.
Chevron is forecast to benefit from higher refining margins and robust fuel export demand during the second quarter. Weston Hancock/SOPA Images/Shutterstock Industry executives argue they have only limited control over what consumers ultimately pay, noting that refining costs, transportation, marketing expenses and taxes account for much of the final price.
Trade groups echoed that argument, saying gasoline prices are influenced by numerous factors beyond crude oil, including regulatory requirements such as renewable fuel mandates.
“Gasoline prices don’t move in lockstep with crude oil, especially during a major global disruption affecting supply, refining and inventories,” Bethany Williams, a spokesperson for the American Petroleum Institute, told Reuters.
Analysts expect the second quarter to produce the industry’s strongest results since 2022, when Russia’s invasion of Ukraine sent energy markets soaring.
Gasoline prices remain elevated even as crude oil has retreated to near pre-conflict levels. John McCoy for CA Post Much of the earnings growth is being driven by a sharp rebound in refining profitability.
According to energy advisory firm TPH, gasoline refining margins averaged about $25 per barrel during the quarter, while diesel margins climbed to roughly $45 per barrel — their highest levels since mid-2022.
President Trump has pressed oil producers to lower gasoline prices ahead of the November midterm elections. AP Photo/Julia Demaree Nikhinson Strong overseas demand for US fuel exports further boosted refiners after supply disruptions abroad.
Despite continued frustration among motorists over gasoline prices, analysts at BMO Capital Markets expect the major oil companies to keep prioritizing shareholder returns through expanded stock buybacks rather than increasing production.
Industry executives maintain that profits naturally rise and fall with market cycles, arguing that periods of high earnings often follow times when companies absorb significant financial risk during weaker markets.
Chevron vyplácí forwardový dividendový výnos 4,2 % a zvyšuje dividendu už 39 let v řadě. Firma díky diverzifikaci a novým projektům očekává růst produkce ropy a plynu o 2 % až 3 % ročně do roku 2030.
Chevron (CVX 1.61%), one of the world's largest integrated energy companies, pays a forward dividend yield of 4.2%. It's raised its dividend annually for 39 consecutive years, putting it on track to become a Dividend King if it maintains that streak for 50 years in a row. Let's see why Chevron will remain a reliable income stock even as oil prices endure some volatile swings.
Image source: Getty Images.
What sets Chevron apart from its competitors? Chevron owns upstream exploration and extraction, midstream pipeline infrastructure, and downstream refining and chemical production businesses.
When oil prices rise, upstream businesses flourish as their revenue growth outpaces their expenses -- but downstream businesses can struggle with rising input costs. Declining oil prices can help downstream companies but hurt upstream ones. Midstream companies, which merely charge tolls for using their pipelines, can generate stable profits in both environments.
Chevron's scale and diversification across all three markets make it a more reliable, all-weather play on the energy market than stand-alone upstream, midstream, and downstream companies. It has a presence in 180 countries, but most of its oil and natural gas comes from the U.S., Kazakhstan, and Australia rather than the volatile Middle East.
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Why is Chevron a reliable dividend stock? Over the past 12 months, Chevron spent 95% of its free cash flow (FCF) on its dividends. That high cash dividend payout might seem like a red flag, but the energy giant has plenty of ways to generate more cash. It's expanding its Tengiz Field in Kazakhstan, upgrading its main field in the Permian Basin, launching new deepwater projects in the Gulf of Mexico, increasing its natural gas production in Australia, and ramping up its presence in Guyana, one of the world's fastest-growing oil regions, through its recent acquisition of Hess.
Chevron expects those catalysts to boost its oil and gas production by 2%-3% annually through 2030. To achieve that expansion without crushing its margins, it aims to reduce its structural costs by $3 billion to $4 billion by the end of 2026. Analysts expect its adjusted EPS to nearly double this year, yet its stock still looks like a bargain at 11 times forward earnings.
Chevron's stock declined over the past month as oil prices pulled back, but it should easily weather the downturn and continue to raise its dividends. It's been a reliable income stock for nearly four decades, and it will remain a top energy dividend play for the foreseeable future.
Chevron zvažuje další projekty napájení datových center v USA kromě projektu Project Kilby, aby využil rostoucí poptávku po elektřině pro AI. První elektřina z projektu Project Kilby má přijít v roce 2028.
Key Takeaways Chevron is evaluating U.S. data center projects beyond Project Kilby to meet rising AI electricity demand.CVX plans natural gas-fired facilities in multiple regions, with Project Kilby targeting first power in 2028.Chevron sees dedicated power projects as a potential long-term revenue stream beyond commodity prices. Per Reuters, Chevron Corporation (CVX - Free Report) is expanding its ambitions in the fast-growing data center power market by exploring additional projects across the United States. Building on the momentum of Project Kilby, the company is evaluating opportunities in several strategic regions to support the rapidly increasing electricity demand driven by artificial intelligence (AI) and cloud computing.
With abundant natural gas resources, proven energy infrastructure expertise and a growing pipeline of potential customers, Chevron is positioning itself as a key provider of dedicated power solutions for next-generation digital infrastructure.
Building on the Success of Project KilbyProject Kilby represents Chevron's first dedicated natural gas-fired power project designed specifically for a hyperscale data center. The 2.67-gigawatt facility will supply electricity to Microsoft's data center campus in Pecos, TX, with enough generating capacity to power a city the size of San Francisco.
The project reflects Chevron's strategy of combining its extensive energy development experience with growing demand from technology companies seeking reliable, large-scale power sources for AI workloads.
Chevron expects to make a final investment decision by the end of the year, while the first electricity from Project Kilby is anticipated in 2028. The facility also has the potential to expand beyond its initial capacity as future demand increases.
Chevron Is Exploring New Growth Opportunities NationwideFollowing Project Kilby, Chevron is actively evaluating similar opportunities in several regions, including West Texas, the Midwest, the Gulf Coast and areas near Colorado's Rocky Mountains. The company is also considering projects in Utah, where it already operates a hydrogen facility.
Chevron has indicated that future developments could involve both Microsoft and other technology customers, depending on project economics and commercial viability. The company believes multiple locations across the country offer the right combination of energy resources, infrastructure and customer demand to support dedicated data center power facilities.
Natural Gas Supports Reliable AI InfrastructureAs AI adoption accelerates, reliable electricity has become one of the biggest challenges facing data center expansion. Chevron believes natural gas offers an effective solution, backed by its abundant domestic supply, operational flexibility, and ability to provide continuous, dispatchable power.
Unlike intermittent energy sources, natural gas generation can quickly respond to changing electricity demand while maintaining stable operations. This reliability is particularly valuable for data centers, where uninterrupted power is essential to support AI processing, cloud services and other digital workloads.
CVX Is Balancing New Opportunities With Existing OperationsWhile expanding into dedicated power generation, Chevron continues to prioritize the energy needs of its own operations. The company evaluates new investments across its broader business to ensure projects supporting external customers do not compromise the reliability of power required for activities such as drilling operations and compression infrastructure in the Permian Basin.
This enterprise-wide approach allows Chevron to pursue emerging business opportunities while maintaining operational efficiency across its core energy portfolio.
Creating a New Long-Term Revenue StreamBeyond supporting growing electricity demand, data center power projects provide Chevron with an opportunity to diversify its revenue sources. Dedicated power generation offers income that is less directly exposed to fluctuations in oil and natural gas commodity prices, creating a potentially more stable long-term business segment.
Although industry analysts believe it is still too early to determine the financial impact of these projects, Chevron continues to advance its plans as demand for AI infrastructure grows across the United States.
Chevron Looks Beyond Project KilbyThe rapid expansion of AI and cloud computing is reshaping electricity demand, creating significant opportunities for energy providers capable of delivering reliable, large-scale power. Chevron's strategy extends well beyond Project Kilby, with multiple regions under evaluation for future developments.
By leveraging its natural gas resources, project execution capabilities and established energy infrastructure, Chevron aims to play an increasingly important role in powering the next generation of AI-driven data centers while strengthening its long-term growth strategy.
CVX’s Zacks Rank & Key PicksChevron is one of the largest publicly traded oil and gas companies in the world, with operations that span almost every corner of the globe. Currently, CVX carries a Zacks Rank #3 (Hold).
Investors interested in the energy sector may consider some top-ranked stocks like Global Partners LP (GLP - Free Report) , Delek US Holdings, Inc. (DK - Free Report) and Liberty Energy Inc. (LBRT - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Global Partners is a Delaware limited partnership formed by affiliates of the Slifka family. It owns, controls or has access to one of the largest terminal networks of refined petroleum products in New England. The Zacks Consensus Estimate for GLP’s 2026 earnings indicates 113.1% year-over-year growth.
TN-based Delek US Holdings is an independent refiner, transporter and marketer of petroleum products. The company’s operations are organized into two reportable segments: Refining and Logistics. The Zacks Consensus Estimate for DK’s 2026 revenues indicates 5.9% year-over-year growth.
Liberty Energy is a leading North American oilfield services company, specializing in hydraulic fracturing and completion solutions. The company provides differentiated services through advanced technology integration and real-time data analytics. The Zacks Consensus Estimate for LBRT’s 2026 earnings indicates 66.7% year-over-year growth.
Chevron hledá další dohody pro napájení datových center v USA po kontraktu s Microsoftem v Texasu. Projekt Kilby má mít výkon 2,67 GW a první elektřina má přijít v roce 2028.
A Chevron gas station sign is seen in Austin, Texas, U.S., October 23, 2023. REUTERS/Brian Snyder Purchase Licensing Rights, opens new tab
SummaryCompaniesChevron expects a final investment decision on Project Kilby by the end of the yearChevron targets West Texas, Midwest, Gulf Coast, Rockies and Utah for future projectsNEW YORK, June 26 (Reuters) - Chevron (CVX.N), opens new tab is exploring additional data center deals across the U.S., including the Midwest, Rockies, and Gulf Coast, following its two-decade-long contract to power a Microsoft data center in West Texas, a company executive told Reuters.
Oil and gas companies such as Chevron (CVX.N), opens new tab and Exxon Mobil (XOM.N), opens new tab are angling to profit from the record-high electricity demand generated by Big Tech's AI-driven data center expansion, offering their natural gas and experience developing large and complex energy projects.
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Chevron said on Monday it signed an agreement to develop a natural gas-fired power facility, called Project Kilby, which would have 2.67 gigawatts of capacity and provide dedicated electricity to Microsoft's data center campus in Pecos, Texas. The project is the first of its kind for Chevron and will be big enough to power a city the size of San Francisco.
CHEVRON EYES TEXAS, MIDWEST, GULF COASTThe oil major sees potential for additional projects in West Texas, which is part of the Permian Basin, the top U.S. oilfield that holds abundant natural gas resources, said Jeff Gustavson, Chevron's president of new energies, in an interview on Wednesday.
Other regions of interest include the Midwest and Gulf Coast — an important energy production and shipping area — as well as near Colorado's Rocky Mountains, he said. The company is also considering data center deals in Utah, where Chevron has a hydrogen facility.
"We'll look at other parts of the country. We'll look at it with Microsoft. We'll look at it with other potential customers," Gustavson said. "If we can put the right pieces together to meet our return thresholds, you can see more announcements over time."
Kilby provides Chevron with a separate revenue stream not exposed to the commodity price risk of its core business. Gustavson said Chevron and its partners are finalizing project design details and declined to disclose the estimated cost.
Analysts said this week it is too early to tell whether providing power to data centers will become a meaningful revenue stream for Chevron.
Chevron expects to make a final investment decision by the end of the year. The first power from Kilby is expected in 2028, with the project taking several years to hit full capacity.
The project, which will require seven GE Vernova turbines and multiple smaller turbines from Caterpillar, can eventually expand beyond its initial 2.67 gigawatt capacity.
Reporting by Laila Kearney in New York and Sheila Dang in Houston; Editing by Rod Nickel
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Chevron uvedl, že všichni zaměstnanci ve Venezuele jsou v pořádku a provoz po silných zemětřeseních pokračuje bez narušení. Normálně fungují i klíčové těžební projekty, rafinerie Paraguaná a exportní terminál José.
Key Takeaways Chevron confirmed employees are safe and Venezuelan operations continue without earthquake disruptions. CVX said key crude projects, refining and export facilities continue operating normally. Chevron is supporting communities while monitoring safety and recovery across Venezuela. Chevron Corporation (CVX - Free Report) has confirmed that its operations in Venezuela remain unaffected despite two powerful earthquakes that caused widespread destruction and significant loss of life, underscoring the company's commitment to employee safety, operational resilience and support for local communities during challenging times.
Employee Safety Remains the Top Priority for CVXChevron reported that all of its employees in Venezuela are safe and accounted for following the twin earthquakes, which measured 7.2 and 7.5 in magnitude. The company expressed solidarity with the Venezuelan people and reaffirmed its commitment to supporting employees, neighboring communities and maintaining safe operations.
With a long-standing presence in the country, Chevron emphasized that protecting its workforce remains its highest priority while continuing to monitor the evolving situation closely.
CVX's Operations Continue Without DisruptionDespite the severe impact of the earthquakes, Chevron, currently carrying a Zacks Rank #3 (Hold), confirmed that its Venezuelan assets continue to operate normally. The company's three onshore heavy crude projects in western and eastern Venezuela have not experienced operational disruptions.
Key oil infrastructure also remained functional following the seismic events. Venezuela's Paraguaná refining complex, located near the affected region, continued normal refining activities, while the José export terminal maintained regular crude export operations.
These developments demonstrate the resilience of critical energy infrastructure even under difficult circumstances.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Industry Maintains StabilityChevron was not the only energy company to report uninterrupted operations. Other international operators, including Eni S.p.A. (E - Free Report) and Repsol, S.A. (REPYY - Free Report) , also confirmed that their Venezuelan assets remain operational.
Eni continues supplying natural gas that supports approximately half of Venezuela's gas-fired power generation, while Repsol's projects, including its partnership with Eni in the Perla gas field, continue contributing to the country's energy supply.
Although operations have remained stable, authorities and industry operators like CVX, E and REPYY continue assessing petrochemical facilities located closer to the earthquake's epicenter to ensure long-term safety.
Recovery Efforts Continue Across VenezuelaEmergency response teams remain engaged in rescue and recovery efforts following one of the strongest earthquakes recorded in Venezuela in more than a century. Authorities continue evaluating damage to industrial facilities, public infrastructure and residential areas.
Meanwhile, the Morón Petrochemical Complex has begun restoring operations after temporarily suspending activities to complete safety inspections. The precautionary shutdown reflects the industry's emphasis on protecting personnel and ensuring facility integrity before resuming operations.
Chevron's Long-Term Commitment to VenezuelaChevron has maintained a presence in Venezuela through years of political and economic uncertainty. It is making major developments in Venezuela, where production from its joint ventures has been steadily rising, reinforcing its position as a critical partner to PDVSA. The company currently contributes roughly a quarter of the country’s total crude output, underscoring both its operational importance and long-term strategic interest in the region. Chevron's ability to continue operating safely following this natural disaster reflects its focus on operational excellence, risk management and responsible energy production.
By prioritizing employee safety while maintaining reliable operations, Chevron continues to support Venezuela's energy sector during a period of significant national hardship.
Chevron's Ongoing Commitment to Safety and RecoveryAs Venezuela continues recovery efforts, Chevron remains focused on safeguarding its workforce, supporting affected communities and ensuring the safe operation of its assets. The company's swift response and operational resilience demonstrate the importance of strong safety practices and infrastructure preparedness in the face of unexpected natural disasters.
With ongoing assessments across the country's energy sector, Chevron continues working alongside stakeholders to provide reliable energy while contributing to recovery efforts wherever possible.
Chevron podepsal s Microsoftem 20letou smlouvu o dodávkách elektřiny pro datacentrum v Texasu. Projekt má dodat 2,7 GW a první elektřina má přijít v roce 2028.
CNBC’s Brian Sullivan walked viewers through a landmark energy agreement that paints the picture for how much electricity the AI buildout actually needs. Chevron has signed a 20-year power purchase agreement with Microsoft to supply natural-gas-fired electricity to a Microsoft data center in far west Texas, about an hour southwest of Odessa. According to Sullivan, the project will deliver 2.7 gigawatts of capacity, roughly the equivalent of two million homes’ worth of power, and represents “one of the first we’ve seen of its kind, certainly of its size, by Chevron.”
Four publicly traded names sit at the center of the project: Chevron (NYSE:CVX | CVX Price Prediction), Microsoft (NASDAQ:MSFT), GE Vernova (NYSE:GEV), and Caterpillar (NYSE:CAT). Sullivan noted that Caterpillar and GE Vernova supply the turbines that convert natural gas into electricity for the facility, while Chevron supplies the molecules from its Permian Basin position.
What the Deal Looks Like in the Filings In its Q1 2026 8-K, Chevron disclosed an “exclusivity agreement with Microsoft” and Engine No. 1 for a power generation project in West Texas. The branded version, Project Kilby, will be operated through Chevron’s Energy Forge One LLC in partnership with Joulent, targeting a Final Investment Decision by the end of 2026 and delivering first power in 2028. According to Chevron’s press release, the project’s local impact figures include over $10 billion in expected tax revenue and almost 2,000 jobs.
For Chevron, this is a meaningful new growth wedge on top of an already-strong operating base. CEO Mike Wirth said, “2025 was a year of significant achievement. We successfully integrated Hess, started up major projects, delivered record production, and reorganized our business.” The company posted record full-year 2025 production of 3,723 MBOED, $33.9 billion in operating cash flow, and a 39th consecutive annual dividend increase. Shares closed at $173.63 on June 18, up 22.08% over the past year.
Why Microsoft Is Locking Up Power for Two Decades The scale of Microsoft’s AI infrastructure spend explains the urgency. Satya Nadella told investors that “our AI business surpassed an annual revenue run rate of $37 billion, up 123% year-over-year.” Capital expenditures hit $30.88 billion in fiscal Q3 2026, up 84.39% year over year, with commercial remaining performance obligations of $627 billion. Shares trade at $379.40, down 21.2% year-to-date, as investors weigh capex intensity against future AI returns.
Other Picks-and-Shovels Beneficiaries GE Vernova and Caterpillar are the most direct beneficiaries of agreements like this. On Q1 2026 results, GE Vernova CEO Scott Strazik said, “Our Q1 Electrification orders to data centers were more than full-year 2025 results,” with total Q1 orders of $18.3 billion and gas power gigawatts under contract growing sequentially from 83 to 100. Shares climbed 22.44% in the past week to $1,109.73, and 127% over one year.
Caterpillar CEO Joe Creed announced on the same earnings cycle that “Power generation grew 48%, driven by strong demand for large gensets and turbines used in data center applications with an increasing mix towards prime power,” and disclosed a new 2.1 gigawatt prime power agreement, the sixth of at least one gigawatt. Caterpillar stock sits at $985.82, up 176.97% year over year.
The Natural Gas Backdrop and What to Watch Brian Sullivan framed the macro pressure bluntly: “The demand for natural gas from the United States, unfortunately and kind of sadly, will only go up.” He connected that to a major natural gas facility in Qatar that was damaged in March, with an attempted restart reportedly exploding on the day of his report, reinforcing the value of domestic supply. Henry Hub spot prices are near $3.06/MMBtu as of mid-June 2026, elevated relative to the 2024 baseline, following a brief January 2026 spike to $30.72/MMBtu.
Traditional oil and gas companies are increasingly becoming infrastructure providers for AI data centers, while equipment suppliers benefit from years of contracted demand. Investors should watch for a final investment decision by year-end, potential opposition from West Texas communities over water and land use, and whether other energy producers follow Chevron’s lead by signing long-term power agreements tied to the growing AI investment cycle.
