CVX Stock - Chevron Corporation
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $193.41B | $196.91B | $235.72B | $155.61B | $94.47B |
| Gross Profit | $56.93B | $60.39B | $65.59B | $45.43B | $22.82B |
| Gross Margin | 29.4% | 30.7% | 27.8% | 29.2% | 24.2% |
| Operating Income | $29.10B | $33.79B | $39.95B | $16.10B | $-6,942,000,000 |
| Net Income | $17.66B | $21.37B | $35.47B | $15.63B | $-5,543,000,000 |
| Net Margin | 9.1% | 10.9% | 15.0% | 10.0% | -5.9% |
| EPS | $9.76 | $11.41 | $18.36 | $8.15 | $-2.96 |
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant. The Downstream segment engages in refining crude oil into petroleum products; marketing crude oil, refined products, and lubricants; manufacturing and marketing of renewable fuels; transporting crude oil and refined products by pipeline, marine vessel, motor equipment, and rail car; and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives. It is also involved in the cash management and debt financing activities; insurance operations; real estate activities; and technology businesses. The company was formerly known as ChevronTexaco Corporation and changed its name to Chevron Corporation in 2005. Chevron Corporation was founded in 1879 and is based in San Ramon, California.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| December 1st 2025 | HSBC Securities | Upgrade | Buy | $169 |
| August 20th 2025 | Melius | Initiation | Hold | $155 |
| August 4th 2025 | TD Cowen | Reiterated | Hold | $155← $150 |
| August 4th 2025 | Morgan Stanley | Resumed | Overweight | $174 |
| July 31st 2025 | Evercore ISI | Resumed | Outperform | $180 |
| May 13th 2025 | HSBC Securities | Downgrade | Hold | $158 |
| May 6th 2025 | DZ Bank | Downgrade | Sell | $130 |
| May 5th 2025 | TD Cowen | Reiterated | Hold | $150← $155 |
| April 23rd 2025 | Redburn Atlantic | Downgrade | Sell | $124 |
| April 23rd 2025 | Barclays | Downgrade | Equal Weight | $152← $171 |
| April 15th 2025 | Exane BNP Paribas | Downgrade | Neutral | $140 |
| April 11th 2025 | Scotiabank | Downgrade | Sector Perform | $143 |
| November 26th 2024 | Citigroup | Upgrade | Buy | $185← $145 |
| November 5th 2024 | DZ Bank | Upgrade | Buy | $170 |
| October 17th 2024 | BofA Securities | Resumed | Buy | $168 |
Earnings History & Surprises
CVXEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | Apr 30, 2026 | — | — | — | — |
Q1 2026 | Jan 30, 2026 | $1.54 | — | — | — |
Q4 2025 | Oct 31, 2025 | $1.69 | $1.85 | +9.5% | ✓ BEAT |
Q3 2025 | Aug 1, 2025 | $1.73 | $1.77 | +2.3% | ✓ BEAT |
Q2 2025 | May 2, 2025 | $2.16 | $2.18 | +0.9% | ✓ BEAT |
Q1 2025 | Jan 31, 2025 | $2.42 | $2.06 | -14.9% | ✗ MISS |
Q4 2024 | Nov 1, 2024 | $2.42 | $2.51 | +3.7% | ✓ BEAT |
Q3 2024 | Aug 2, 2024 | $2.93 | $2.55 | -13.0% | ✗ MISS |
Q2 2024 | Apr 26, 2024 | $2.87 | $2.93 | +2.1% | ✓ BEAT |
Q1 2024 | Feb 2, 2024 | $3.29 | $3.45 | +4.9% | ✓ BEAT |
Q4 2023 | Oct 27, 2023 | $3.75 | $3.05 | -18.7% | ✗ MISS |
Q3 2023 | Jul 28, 2023 | $2.97 | $3.08 | +3.7% | ✓ BEAT |
Q2 2023 | Apr 28, 2023 | $3.41 | $3.55 | +4.1% | ✓ BEAT |
Q1 2023 | Jan 27, 2023 | $4.38 | $4.09 | -6.6% | ✗ MISS |
Q4 2022 | Oct 28, 2022 | $4.81 | $5.56 | +15.6% | ✓ BEAT |
Q3 2022 | Jul 29, 2022 | $5.10 | $5.82 | +14.1% | ✓ BEAT |
Q2 2022 | Apr 29, 2022 | $3.27 | $3.36 | +2.8% | ✓ BEAT |
Q1 2022 | Jan 28, 2022 | $3.12 | $2.56 | -17.9% | ✗ MISS |
Q4 2021 | Oct 29, 2021 | $2.21 | $2.96 | +33.9% | ✓ BEAT |
Q3 2021 | Jul 30, 2021 | $1.59 | $1.71 | +7.5% | ✓ BEAT |
Latest News
'Chevron Continues to Load Oil Tankers in Venezuela Amid Tensions'- Bloomberg
➖ NeutralChevron Spokesperson Says Venezuela Operations Continue Without Disruption After Trump Orders Blockade
📈 PositiveChevron Australia Awards Contract To Subsea7 Over Subsea Installation On Gorgon Stage 3 Project
📈 Positive'Chevron Reduces Price for Venezuelan Oil After Tanker Seizure'- Bloomberg
📉 NegativeMizuho Maintains Outperform on Chevron, Raises Price Target to $206
📈 PositiveTechnipFMC Awarded Contract For Subsea 2.0 Production Systems For Chevron's Gorgon Stage 3 Project; 'Significant' Contract Between $75M-$250M
📈 PositiveB of A Securities Maintains Buy on Chevron, Lowers Price Target to $180
➖ Neutral'Chevron in Discussions With Trump Administration on Venezuela' - Bloomberg News
➖ NeutralChevron Australia, Gorgon JV Participants Take Final Investment Decision On A$3B Gorgon Stage 3 Backfill, Installing 3 Manifolds And 35Km Flowline Linking Geryon & Eurytion To Barrow Island Facilities
📈 PositiveChevron Says Upstream Budget Is About $17B; Will Spend About $9B On U.S. Upstream, About $8B On International Upstream; Says Global Offshore Capex Expected To Be About $7B
📈 PositiveChevron Forecasts $18B-$19B Organic Capex For 2026, Affiliate Capex $1.3B-$1.7B
➖ NeutralHSBC Upgrades Chevron to Buy, Raises Price Target to $169
📈 PositiveTotalEnergies And Chevron Expand Offshore Exploration Collaboration With 40% Farmout In Nigeria's West Delta Basin
📈 PositiveChevron Reports No Casualties And Continued Crude Loadings Following Novorossiysk SPM Incident Emphasizing Importance Of CPC
📈 PositiveChevron trades in red for seven straight sessions
📉 NegativeU.S. Treasury Official Says Expecting To See Complete Severance Between Lukoil, Rosneft And Their Foreign Assets As Sanctions Take Effect
📉 Negative'Lukoil's Suitor List Grows to Include Exxon, Chevron, Abu Dhabi' - Bloomberg News
📈 Positive'Chevron joins race to explore potential purchase of Lukoil assets, sources say'- Reuters Exclusive
➖ NeutralChevron, Exxon to boost oil production, even as crude gets cheaper. How come?
📈 PositiveWells Fargo Maintains Overweight on Chevron, Raises Price Target to $196
📈 PositiveFrequently Asked Questions about CVX
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