Chevron (NYSE:CVX) Issues Earnings Results, Beats Expectations By $0.08 EPS

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

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

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

Chevron Trading Up 3.3%

Chevron stock opened at $176.75 on Friday. Chevron has a 12 month low of $132.04 and a 12 month high of $177.30. The stock has a market cap of $355.90 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 11.92 and a beta of 0.70. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average price of $156.40 and a two-hundred day moving average price of $155.42.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be given a $1.78 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Tuesday, February 17th. Chevron’s payout ratio is presently 96.20%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CVX. Wells Fargo & Company raised their target price on shares of Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. HSBC set a $169.00 price objective on shares of Chevron and gave the stock a “buy” rating in a research note on Monday, December 1st. Mizuho boosted their price target on Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. UBS Group reissued a “buy” rating on shares of Chevron in a research report on Monday, December 1st. Finally, Jefferies Financial Group upped their price target on shares of Chevron from $174.00 to $189.00 and gave the company a “buy” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $170.00.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Q4 adjusted EPS beat expectations ($1.52 vs ~ $1.44) and management emphasized cost cuts and efficiency gains that helped margins despite lower oil prices. This beat is a primary catalyst for the stock lift. Chevron Reports Fourth Quarter 2025 Results
• Positive Sentiment: Dividend increased to $1.78/share (4.1% raise), marking 39 consecutive years of increases — supports yield-focused investor demand. Chevron lifts dividend to $1.78/share
• Positive Sentiment: Record/strong production and clearer 2026 growth outlook (Permian, Tengiz, newly acquired Hess assets, guidance for 7–10% production growth) underpin earnings resilience and upside potential. Chevron Production & Outlook (MarketBeat)
• Positive Sentiment: Venezuela opportunity: Chevron plans to raise Venezuelan exports (reports of targeting ~300k bpd) and CEO comments say Caracas is taking steps to protect private investment — investors see material upside if exports scale. Chevron eyes Venezuela opportunities (Reuters)
• Neutral Sentiment: CEO interviews and media coverage reinforced the Venezuela narrative and production outlook but provide limited new detail beyond the earnings call. CEO Mike Wirth on TV (CNBC)
• Neutral Sentiment: Kazakhstan government engagement: Chevron reassured Tengiz partners it will operate reliably and safely — supports operational stability but is not a new earnings driver. Tengiz operations (Reuters)
• Negative Sentiment: Revenue missed expectations (Q4 revenue ~$45.8B vs ~$48.2B consensus) and full-year profits fell year‑over‑year — a reminder earnings strength is margin/production driven, not top‑line growth. Q4 results detail (BusinessWire)
• Negative Sentiment: Insider selling: CFO Eimear Bonner and another senior insider disclosed sizeable sales on Jan. 28 — can be interpreted negatively by some investors despite routine reasons for sales. CFO Form 4 (SEC)
• Negative Sentiment: Board-approved executive pay and long‑term equity award increases were announced, which could be viewed unfavorably by governance‑focused investors. Executive pay update (TipRanks)

Insider Activity at Chevron

In other news, insider Alana K. Knowles sold 3,200 shares of the stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $170.00, for a total value of $544,000.00. Following the transaction, the insider owned 1,207 shares of the company’s stock, valued at $205,190. This represents a 72.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 275,000 shares of the stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the transaction, the director owned 1,128,045 shares of the company’s stock, valued at approximately $170,052,783.75. This trade represents a 19.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 645,924 shares of company stock worth $102,079,188. 0.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chevron

Several hedge funds and other institutional investors have recently modified their holdings of CVX. Danske Bank A S purchased a new position in shares of Chevron in the third quarter worth $10,281,000. KDT Advisors LLC increased its holdings in Chevron by 7.3% in the 3rd quarter. KDT Advisors LLC now owns 4,357 shares of the oil and gas company’s stock valued at $677,000 after acquiring an additional 295 shares during the last quarter. Greenline Partners LLC raised its position in Chevron by 14.7% during the 3rd quarter. Greenline Partners LLC now owns 31,086 shares of the oil and gas company’s stock valued at $4,827,000 after purchasing an additional 3,985 shares in the last quarter. Financial Engines Advisors L.L.C. grew its stake in Chevron by 10.9% in the third quarter. Financial Engines Advisors L.L.C. now owns 11,720 shares of the oil and gas company’s stock valued at $1,820,000 after purchasing an additional 1,150 shares during the last quarter. Finally, Abel Hall LLC raised its holdings in shares of Chevron by 19.8% in the third quarter. Abel Hall LLC now owns 3,859 shares of the oil and gas company’s stock worth $599,000 after buying an additional 639 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.