Chevron Corporation
- Open
- 169.70
- Day high
- 170.46
- Day low
- 165.28
- Prev close
- 168.43
- Volume
- 10.0M
- Mkt cap
- $329.8B
- P/E (TTM)
- 28.6
- EPS (TTM)
- $5.79
- P/B
- 1.8
- P/S
- 1.8
- Yield
- 4.21%
- Per share
- $6.98
- ▼Insiders net selling -$109.4M over the last 3 months (0 open-market buys, 10 sales)
- 🏛Institutions mixed (13F)
Chevron Corporation (CVX) is a Energy company listed on NYSE. The stock is up 14% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 10 sales (SEC Form 4). Drillr has 102 published research articles covering CVX.
Chevron Corporation (CVX) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 10 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CVX earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 1, 2026 | $1.00 | $1.41 | +41.0% | $48.6B | -6.3% |
| Jan 30, 2026 | $1.41 | $1.52 | +7.8% | $45.8B | -2.1% |
| Oct 31, 2025 | $1.69 | $1.85 | +9.5% | $48.2B | -1.6% |
| Aug 1, 2025 | $1.73 | $1.77 | +2.3% | $44.4B | +1.2% |
| May 2, 2025 | $2.16 | $2.18 | +0.9% | $47.6B | -1.3% |
| Jan 31, 2025 | $2.42 | $2.06 | -14.9% | $52.2B | +12.1% |
| Nov 1, 2024 | $2.42 | $2.51 | +3.7% | $48.9B | +0.1% |
| Aug 2, 2024 | $2.93 | $2.55 | -13.0% | $49.6B | -2.1% |
| Apr 26, 2024 | $2.87 | $2.93 | +2.1% | $46.6B | -3.8% |
| Feb 2, 2024 | $3.29 | $3.45 | +4.9% | $48.9B | +3.7% |
| Oct 27, 2023 | $3.75 | $3.05 | -18.7% | $51.9B | +8.6% |
| Jul 28, 2023 | $2.97 | $3.08 | +3.7% | $47.2B | +8.6% |
CVX insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 29, 2026 | REED DEBRA Ldirector | Grant | 1,272 | — |
| May 29, 2026 | HESS JOHN Bdirector | Grant | 1,272 | — |
| May 29, 2026 | HERNANDEZ ENRIQUE JRdirector | Grant | 1,272 | — |
| May 29, 2026 | Huntsman Jon M Jrdirector | Grant | 1,272 | — |
| May 29, 2026 | Frank Johndirector | Grant | 1,272 | — |
| May 29, 2026 | Moyo Dambisa Fdirector | Grant | 1,272 | — |
| May 29, 2026 | Austin Wanda Mdirector | Grant | 1,272 | — |
| May 29, 2026 | HORTON THOMAS Wdirector | Grant | 1,272 | — |
| May 29, 2026 | WARNER CYNTHIA Jdirector | Grant | 1,272 | — |
| May 29, 2026 | Umpleby III Donald Jdirector | Grant | 1,272 | — |
| May 29, 2026 | HEWSON MARILLYN Adirector | Grant | 1,272 | — |
| May 22, 2026 | HESS JOHN Bdirector | Sell | 30,581 | $196.74 |
| May 22, 2026 | HESS JOHN Bdirector | Sell | 3,035 | $197.45 |
| May 22, 2026 | HESS JOHN Bdirector | Sell | 42,678 | $194.65 |
| May 22, 2026 | HESS JOHN Bdirector | Sell | 117,836 | $191.52 |
Source: CVX SEC Form 4 filings, latest May 29, 2026. For informational purposes only — not investment advice.
See the full CVX insider & 13F page →CVX research & analysis
US Crude Exports Hit Record Highs: XOM Leads 6 Winners From Asia's Iran Pivot
US crude exports hit records on April 9 amid Iran disruptions, boosting exporters like XOM and CVX with Asian ties. Analysis ranks six majors by exposure, financials, and valuation, naming XOM the top pick.
XOMCOPOXYGoldman Sachs Natural Gas Warning: EQT Up 73%, But SO Faces Margin Squeeze
Goldman Sachs' supply crunch warning spotlights natgas winners like EQT and COP for production gains, midstream KMI/WMB for volumes, versus utility loser SO facing fuel cost pain. Backed by FY2025 financials showing EQT's 73% revenue surge and strong FCF across winners.
COPEQTKMIHormuz Blockade Hits Copper Hard: FCX Bleeds While XOM, CVX, OXY Rally
Bloomberg's April 13 Hormuz blockade report tanked copper and spiked aluminum spreads, bearish for FCX miners and UPS/FDX shippers but bullish for XOM/CVX/OXY on oil premiums. Energy majors' low leverage and production exposure position them for gains amid shipping chaos.
XOMOXYFCXIran Refining Surge Could Flood Oil Markets — What It Means for USO, XOM, CVX
Iran's vow to restore most refining capacity in two months could boost global supply, pressuring oil prices and USO, but benefits integrated giants XOM and CVX through volatility and downstream strength. Financials show robust FCF and low leverage, supporting buybacks amid YTD gains of 26-28%. Watch OPEC+ moves and June output for next volatility wave.
USOXOMXLE Holds Firm as US-Iran Talks Fail — Oil Could Hit $120 and These Stocks Benefit
Faltering US-Iran ceasefire talks triggered a Gulf stock selloff amid escalation fears, but XLE holds resilient on high oil prices. Geopolitical risks could drive crude to $120+, boosting the ETF's top holdings like XOM and CVX. Bullish on XLE at current valuations amid skewed odds for higher oil.
XLEXOMCOPOil Breaks $100 on Hormuz Blockade Signal — XOM, CVX, OXY Positioned for a Major Move
US Hormuz blockade announcement on April 12 drove oil above $100/bbl, boosting XOM (+28% YTD), CVX (+26%), and OXY (+35%) amid low debt and diversified assets. Shipping risks elevate the premium, positioning energy giants for FCF surges and valuation rerating.
XOMOXYXOM and CVX Up 26-28% YTD — Why the UK Refusing Hormuz Blockade Could Widen Their Lead
The UK's April 12, 2026, refusal to join Trump's Hormuz blockade plan exposes oil majors to extended disruptions in the 20% global oil chokepoint, but XOM and CVX's robust finances and production ramps set up margin gains. YTD stock surges of 26-28% reflect market bets on higher crack spreads, with Middle East assets (20% of output) offset by US shale strength. Bullish stance: Buy supermajors for FCF upside amid geopolitical limbo.
XOMBPSHELHormuz Clearance Signal Drops CVX, XLE, USO — How Long Does the Dip Last?
JD Vance's April 11 peace talks with Iran in Pakistan, paired with Trump's Hormuz clearance claim, eased oil supply fears, driving short-term price dips in CVX (-1% to $188.52), XLE, and USO. Chevron's fortress balance sheet ($16.6B FCF, low leverage) positions it to thrive in stabilized markets, with 7-10% production growth eyed for 2026. Investors should buy the dip for stability-driven upside, watching weekly talk updates.
XLEUSOIran Talks Collapse: Can XOM, CVX, LMT, NOC Hold Their 25%+ YTD Gains?
JD Vance's announcement of collapsed 21-hour US-Iran talks in Pakistan on April 12 threatens the ceasefire, revitalizing oil supply risks and defense demand. XOM and CVX stand strong with 26-28% YTD gains and robust margins, while LMT and NOC's massive backlogs position them for growth. Bullish outlook as escalation premiums lift valuations.
XOMLMTNOCHormuz Strait Reopens: XOM, CVX, OXY Poised to Rally as Risk Premium Fades
Trump's claim of victory over Iran promises to reopen the Hormuz Strait, easing risks for 20% of global oil flows and potentially fading oil's geopolitical premium. XOM, CVX, and OXY—fortified by $184B revenues, low leverage, and 25%+ YTD gains—poised to rally as supply stabilizes. Investors should watch Q1 earnings for production ramps amid recent price dips.
XOMOXYMiddle East War Crushes PMI: XLI, CAT Drop 8% While XLE, XOM Gain 12%
New report details Middle East war's toll on global PMIs, hammering industrials (XLI, CAT down 7-8% monthly) via cost inflation while energy (XLE, XOM up 7-12%) thrives on $110+ oil. Overweight energy for asymmetric upside.
SPYXLEXLIHormuz Supertankers U-Turn After US-Iran Talks Collapse — XOM and CVX Eye $5-10 Premium
Two supertankers U-turned in the Strait of Hormuz on April 12, 2026, after US-Iran talks collapsed, heightening supply disruption fears for 20% of global oil flows. XOM and CVX, with robust balance sheets, low debt, and refining hedges, are primed for a $5-10/bbl risk premium. Bullish stance: Buy dips for 20% upside as volatility favors integrated majors over pure oil plays like USO.
XOMUSOIran Asset Unfreeze Flips the Energy Trade — Refiners VLO and MPC Beat XOM and CVX
The U.S. release of frozen Iranian assets signals potential oil price relief, favoring refiners like VLO and MPC over upstream giants XOM, CVX, OXY, and COP in an energy paradox. Upstream has surged on conflict fears, but de-escalation exposes margin squeezes. Ranked picks highlight refiner upside at attractive valuations.
XOMOXYCOPStrait of Hormuz Supply Risk: Why XOM, CVX, and STNG Are Positioned to Surge
US Navy's April 11, 2026, Strait of Hormuz transit amid operations spotlights supply risks, boosting oil majors XOM/CVX and tanker STNG via higher prices and rates. Strong FY25 financials ($500B+ combined revenue) and balance sheets position them bullishly. Monitor oil benchmarks and Q1 results for next moves.
XOMSTNGHormuz Reopening: XOM & CVX Lock In 28% Gains as LMT, NOC Face Pivot
Trump's April 11 Truth Social claim of destroying Iran's military and imminent Hormuz reopening signals de-escalation, potentially stabilizing oil flows for XOM/CVX (28% YTD) amid production hits, while LMT/NOC (25-30% YTD) eye backlog endurance post-tensions.
XOMLMTNOCStrait of Hormuz Crisis Sparks China Cancellations — XOM and CVX Margins Set to Surge
April 11, 2026, reports detail Hormuz crisis damaging Middle East oil/gas supplies and sparking Chinese order cancellations, tightening global markets. ExxonMobil and Chevron—fortified by $40B+ FCF, low debt, and downstream leverage—stand to gain most from elevated cracks and prices. Bullish: Buy dips for 20-30% FCF upside.
XOMBPSHELHormuz Fee Ultimatum: FRO & ZIM Set for Rate Surge as CVX, XOM Face Margin Squeeze
Trump's April 9 warning over Iranian Hormuz tanker fees heightens shipping disruption risks, positioning FRO and ZIM for rate surges while pressuring CVX and XOM margins. Tankers boast superior leverage with 48% and 33% EBITDA margins versus energy giants' balanced but exposed downstream. Investors should favor shippers amid escalating U.S.-Iran tensions.
ZIMFROXOMStrait of Hormuz Risk Escalates: FRO Freight Rates Surge While XOM and CVX Face Headwinds
Trump's April 9 Truth Social post warning Iran over Hormuz tanker fees escalates shipping risks, poised to boost FRO's freight rates while testing XOM/CVX margins amid strong FY2025 financials. Tankers lead upside; majors resilient via integration.
XOMCOPFROXOM, CVX, COP: $23B+ FCF Windfall Ahead as Iran Attack Tightens Oil Supply
Iran's April 9 attack on Saudi oil infrastructure tightens global supply, favoring XOM, CVX, and COP's low-cost U.S. assets amid $110 oil. Strong FY2025 FCF ($23B+ each) and undervalued multiples position them for EPS surges, despite ME disruptions.
XOMCOPUSOCrude Oil Tops $110 After Iran Strikes Saudi Pipelines — XOM, CVX, COP Up 25%+ YTD
Iran's April 9 strikes on Saudi oil infrastructure cut output, spiking crude above $110 and boosting USO, XOM, CVX, COP amid supply fears. Majors' low-debt profiles and growth pipelines position them for FCF windfalls, with YTD gains over 25% and resilient guidance.
USOXOMCOP
Chevron Corporation company profile
Overview
Chevron Corporation (NYSE:CVX) is one of the world's largest integrated oil and gas companies, tracing its roots back to 1879 when it was founded as the Pacific Coast Oil Company. The company was formerly known as ChevronTexaco Corporation following its 2001 merger with Texaco, before adopting its current name in 2005. Headquartered in San Ramon, California (with plans to relocate to Houston), Chevron has evolved into a global energy giant operating across the entire petroleum value chain, from exploration and production to refining and marketing. The company has maintained a dividend for 38 consecutive years and is recognized as one of the major integrated oil companies alongside ExxonMobil, Shell, BP, and TotalEnergies.
Business
Chevron operates as an integrated oil and gas company, meaning it participates in every stage of the petroleum industry value chain. The company is organized into two primary business segments that generate distinct revenue streams: Upstream Operations (Oil & Gas Exploration and Production) represent the company's exploration, development, and production activities for crude oil and natural gas worldwide. This segment involves finding oil and gas reserves through geological surveys and exploratory drilling, developing those reserves through infrastructure construction, and producing hydrocarbons for sale. The upstream business also includes liquefied natural gas (LNG) operations, which involve processing natural gas into liquid form for easier transportation across oceans, and pipeline transportation of crude oil. Key upstream assets include the Permian Basin in Texas and New Mexico, operations in Kazakhstan through the Tengizchevroil joint venture, Gulf of Mexico deepwater projects, and international assets in countries like Australia and Angola. Downstream Operations (Refining and Marketing) encompass the company's refining of crude oil into petroleum products like gasoline, diesel, and jet fuel, along with the marketing and distribution of these refined products. This segment operates refineries that convert raw crude oil into consumer and industrial products, manages a network of retail gas stations under the Chevron and Texaco brands, and produces specialty chemicals and lubricants. The downstream business also includes renewable fuels production, particularly biodiesel and renewable diesel, as well as petrochemicals manufacturing for industrial applications. Based on recent financial reports, the upstream segment typically generates approximately 65-70% of total company earnings, while downstream operations contribute 25-30%, with the remainder coming from corporate activities and emerging energy ventures. The company also has growing investments in New Energies, including carbon capture and storage, hydrogen production, and renewable fuels, though these remain a small portion of overall revenue.
Revenue model
Chevron generates revenue through multiple complementary business models across its integrated operations. The upstream segment operates on a commodity sales model, selling crude oil and natural gas at prevailing market prices. Revenue fluctuates directly with global oil and gas prices, production volumes, and the company's cost structure. Customers include other oil companies, refiners, and industrial users who purchase these raw materials for further processing or energy generation. The downstream segment employs a manufacturing and retail model, purchasing crude oil (both from its own upstream operations and external suppliers), refining it into higher-value products, and selling these products to consumers and businesses. This segment benefits from refining margins - the difference between crude oil costs and refined product prices - rather than absolute commodity prices. Revenue comes from gasoline sales at retail stations, bulk sales of diesel and jet fuel to commercial customers, and sales of specialty chemicals and lubricants. Several factors significantly impact Chevron's profitability margins. Commodity price volatility represents the most significant external factor, as oil and gas prices directly affect upstream revenues while also influencing downstream input costs. Global supply and demand dynamics, including OPEC production decisions, geopolitical events, and economic growth rates, create substantial earnings variability. Refining crack spreads - the difference between crude oil prices and refined product prices - determine downstream profitability independent of absolute oil prices. Operational factors also influence margins, including production efficiency improvements, planned and unplanned facility downtime, and the company's ability to control operating expenses. Currency fluctuations affect international operations, while regulatory changes in environmental standards, tax policies, and trade restrictions can impact both costs and market access. The company's capital allocation efficiency in developing new projects and maintaining existing assets directly influences long-term profitability, as does its ability to achieve economies of scale in operations and procurement.
Competitive moat
Chevron possesses a moderate to strong economic moat built primarily on scale advantages, integrated operations, and strategic asset positioning, though this moat faces long-term challenges from energy transition trends. The company's integrated business model provides natural hedging between upstream and downstream operations - when oil prices rise, upstream profits increase while downstream margins may compress, and vice versa. This integration also enables the company to optimize crude oil flows between its own production and refining assets, reducing transportation costs and market timing risks. Scale and operational advantages form another key moat component. Chevron's massive global operations enable it to spread fixed costs across large production volumes, negotiate favorable terms with suppliers and service companies, and maintain specialized technical expertise that smaller competitors cannot afford. The company's established relationships with host governments and joint venture partners provide preferential access to high-quality oil and gas reserves, particularly in politically stable regions. Strategic asset quality strengthens the moat through ownership of long-life, low-cost production assets like the Permian Basin and Tengiz field in Kazakhstan. These assets generate substantial cash flows even during low oil price environments, providing competitive advantages over higher-cost producers. The company's downstream assets, including strategically located refineries and extensive retail networks, benefit from geographic positioning and established customer relationships. However, Chevron's moat faces significant long-term disruption risks from the global energy transition toward renewable energy sources and electric vehicles. While this transition will likely unfold over decades rather than years, it represents an existential challenge to the traditional oil and gas business model. Regulatory pressures for carbon emissions reduction, potential carbon pricing mechanisms, and shifting investor sentiment toward ESG considerations also threaten long-term competitive positioning. Technological disruption in areas like battery storage, renewable energy generation, and electric transportation could accelerate demand destruction for petroleum products faster than currently anticipated.
Risks & safety
Chevron demonstrates a strong margin of safety with robust financial metrics and conservative capital structure, though commodity price volatility creates earnings uncertainty. Financial Strength: • Net debt ratio of approximately 14% indicates minimal solvency risk • Strong current ratio of 1.08 suggests adequate short-term liquidity • Free cash flow generation of $15+ billion annually provides substantial financial flexibility • Cash and short-term investments of $4.6-6.8 billion offer additional liquidity buffer Valuation Metrics: • Price-to-earnings ratio of 14-21x appears reasonable for integrated oil company • EV/EBITDA of 6-8x suggests moderate valuation relative to cash generation • Price-to-book ratio of 1.7-2.0x reflects market recognition of asset quality • Graham number calculations indicate potential undervaluation at current levels Other Considerations: • Dividend yield supported by strong cash flow generation and 38-year growth streak • Diversified geographic and operational exposure reduces single-point-of-failure risks • Commodity price sensitivity creates earnings volatility but company maintains profitability across price cycles • Capital discipline and cost reduction initiatives enhance downside protection
Recent development
Over the past several years, Chevron has pursued a strategy focused on capital discipline, operational efficiency, and selective growth in both traditional and new energy sectors. The company has significantly enhanced its Permian Basin operations, achieving record production levels approaching 1 million barrels per day through technological improvements and strategic acquisitions, including the integration of PDC Energia assets that exceeded synergy targets. A major strategic milestone has been the progression of the Tengizchevroil (TCO) Future Growth Project in Kazakhstan, which achieved first oil in 2024 after years of development. This project represents one of the world's largest oil expansion projects and is expected to generate substantial free cash flow once fully operational. Similarly, Chevron has advanced several Gulf of Mexico deepwater projects, including achieving first oil at Ballymore and developing enhanced 20,000 psi drilling capabilities. The company has made significant moves in portfolio optimization, completing approximately $8 billion in asset sales across Canada, Alaska, and Congo while simultaneously investing in higher-return opportunities. Chevron has also relocated its headquarters from San Ramon to Houston, reflecting its strategic focus on major oil and gas basins. In new energy ventures, Chevron has expanded its renewable fuels business through the REG acquisition and Geismar plant operations, selling over 20 million barrels of bio-based diesel. The company is advancing carbon capture, utilization, and storage (CCUS) projects, hydrogen initiatives, and exploring power solutions for AI data centers, leveraging its natural gas position and power generation expertise. A key strategic initiative involves targeting $2-3 billion in structural cost reductions by 2026 through technology implementation, process standardization, and global capability centers.
CVX company profile · for informational purposes only — not investment advice.
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