What is Scotiabank’s Forecast for Chevron FY2026 Earnings?

Chevron Corporation (NYSE:CVX) – Analysts at Scotiabank boosted their FY2026 earnings estimates for Chevron in a report issued on Wednesday, February 11th. Scotiabank analyst P. Cheng now expects that the oil and gas company will earn $4.70 per share for the year, up from their prior forecast of $3.75. Scotiabank has a “Sector Perform” rating and a $168.00 price target on the stock. The consensus estimate for Chevron’s current full-year earnings is $10.79 per share. Scotiabank also issued estimates for Chevron’s FY2027 earnings at $6.55 EPS.

Other research analysts have also recently issued reports about the company. Bank of America dropped their target price on Chevron from $183.00 to $180.00 and set a “buy” rating on the stock in a research report on Thursday, December 11th. Wall Street Zen upgraded shares of Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Barclays boosted their target price on shares of Chevron from $158.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 21st. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $180.00 price target on the stock. in a research report on Monday, February 2nd. Finally, TD Cowen boosted their price objective on shares of Chevron from $160.00 to $168.00 and gave the company a “hold” rating in a research report on Monday, February 2nd. Thirteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus target price of $176.36.

Chevron Stock Performance

Shares of CVX opened at $180.39 on Monday. The firm has a market capitalization of $363.22 billion, a P/E ratio of 27.09, a PEG ratio of 12.16 and a beta of 0.70. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86. Chevron has a one year low of $132.04 and a one year high of $186.52. The business has a fifty day moving average of $163.85 and a 200 day moving average of $157.88.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. The business had revenue of $45.79 billion during the quarter, compared to the consensus estimate of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 8.23%. The firm’s revenue was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.06 EPS.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Tuesday, February 17th. This is a positive change from Chevron’s previous quarterly dividend of $1.71. Chevron’s payout ratio is 102.70%.

Insider Activity at Chevron

In related news, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the transaction, the director owned 1,128,045 shares of the company’s stock, valued at approximately $170,052,783.75. This represents a 19.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Eimear P. Bonner sold 32,100 shares of the stock in a transaction on Friday, January 30th. The stock was sold at an average price of $175.01, for a total value of $5,617,821.00. Following the completion of the sale, the chief financial officer owned 4,366 shares of the company’s stock, valued at $764,093.66. The trade was a 88.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 806,027 shares of company stock worth $130,289,680 in the last 90 days. Company insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Chevron by 17.9% during the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock valued at $28,540,753,000 after acquiring an additional 27,961,463 shares in the last quarter. Norges Bank bought a new position in shares of Chevron during the 4th quarter valued at about $3,727,586,000. State Street Corp grew its position in shares of 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 valued at $23,698,184,000 after purchasing an additional 12,789,399 shares in the last quarter. Primecap Management Co. CA purchased a new position in shares of Chevron during the third quarter valued at about $988,083,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Chevron by 822.0% in the fourth 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 during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron-led consortium awarded four offshore lease blocks in Greece, giving Chevron a 70% operating interest and expanding its Mediterranean exploration footprint — a tangible long‑term growth/reserves catalyst. Article Title
• Positive Sentiment: Chevron announced a larger dividend payout to shareholders, reinforcing its income appeal for yield‑seeking investors as Treasury yields have softened. This supports investor demand for blue‑chip energy dividend names. Article Title
• Neutral Sentiment: CVX is a trending ticker on Zacks and other outlets; several write‑ups are re‑examining Chevron’s outlook and positioning relative to peers, which can increase short‑term volume and volatility without changing fundamentals. Article Title
• Neutral Sentiment: Sector commentary notes that integrated energy names like Chevron are generating strong cash flow but still trade at discounts to the broader market — a mixed signal that may keep valuation debates active among investors. Article Title
• Negative Sentiment: Despite Melius Research upgrading CVX to a “buy” and raising its price target to $205 (from $155), the market largely ignored the move and shares declined — suggesting the upgrade alone isn’t changing investor conviction and that short‑term selling/rotation is outweighing fresh positive analyst views. Article Title

About Chevron

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

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