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
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SHELXOM, CVX: Israel-Iran Strikes Send Oil +3% as Ceasefire Collapses
Israel launched retaliatory strikes on Iran, Iran fired missiles back, and Brent jumped 3%. What the ceasefire collapse means for Exxon and Chevron earnings.
XOMXLEUSO ETF: Hormuz and Bab al-Mandeb Risk Set Up an Oil Squeeze
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The Hormuz blockade creates a bifurcated outcome: LNG producers with Middle East assets (Shell, ExxonMobil, TotalEnergies) face 2-3 quarter supply disruptions and margin compression, while refining-heavy majors and integrated producers with refining exposure benefit from crude-product spread widening. Consensus has treated all majors symmetrically on Brent upside, missing the structural divergence. LNG-heavy names should underperform the refining basket by 5-10% over the next 2-3 quarters.
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Clearway Energy's 2 GW hyperscaler power purchase agreements quantify what had been qualitative AI data center power demand, implying $50B annual investment through 2030 is credible. NextEra and Constellation trade at 19x and 12x forward P/E despite positioned for multi-decade contracted revenue streams, while hyperscalers demanding the power trade at 25-35x. Long NEE and CEG targets 15-25% upside over 12 months as Q2-Q4 earnings calls surface similar contract announcements.
NEECEGCWEN.ASLB: Gulf Oil Resumption Lags Street as Iran War Disrupts Q1
SLB's Q1 earnings showed Middle East revenue down 10% with ongoing demobilizations from the Iran conflict, contradicting the IEA's projection of swift Gulf oil field resumption. The market sold oilfield services stocks but hasn't repriced energy producers XOM and CVX for the extended tight-supply window this signals. The trade is long the producers on 6-9 month crude strength, breaking if official Gulf resumption announcements or OPEC data show rapid supply return by mid-May.
XOMSLBHALCan Energy Stocks Hold Gains as Middle East Ceasefire Hopes Strip Geopolitical Premium?
Last week's S&P 500 rally on Middle East ceasefire hopes creates a tactical mispricing in energy stocks. While XLE participated in the broad market advance, the de-escalation narrative removes the geopolitical premium that had been supporting energy valuations, setting up 5-10% underperformance versus the S&P 500 over 30 days as the conflict bid unwinds.
XLEXLFXLIWill $100 Oil From Strait of Hormuz Tensions Cement XOM and CVX Outperformance?
Brent crude topping $100/barrel on Strait of Hormuz concerns reveals a mispricing in energy stocks still trading on lower oil price assumptions. XOM and CVX offer 15-20% upside as earnings revisions catch up to triple-digit oil reality, with LMT benefiting from elevated Middle East defense spending. The thesis breaks if oil retreats below $85 by Q3 2025.
XOMLMTETNTransat Axes Hundreds of Flights as Iran War Spurs Jet Fuel Surge
Transat's flight cuts confirm Iran war risks post-ceasefire expiration, pointing to 8-12% TRZ downside and 7-11% gains for XOM/CVX as fuel surges. Airlines face deeper capacity pain; energy rerates higher. Breaks without military confirmations by April 29.
TRZXOMDALHormuz and Minerals Choke Points: Why XOM, FCX, and BHP Are Top Ranked Picks
Bloomberg's chokepoint alert favors oil majors (XOM, CVX, OXY) and copper leaders (FCX, BHP) amid Hormuz and minerals risks, while ALB faces headwinds. Ranked picks highlight resilient FCF machines at attractive valuations.
XOMFCXBHPEurope's 21-Hour Trading Days Are Boosting VLO, XOM & CVX Margins
Europe's surging energy market volatility, with traders facing 21-hour days per Bloomberg, spills over to boost US refining margins for Valero, Exxon, and Chevron while supercharging commodities trading at Goldman Sachs and JPMorgan. Recent financials show resilient FCF and margins, with VLO leading price gains at +43% over 3M. Bullish: Buy the dip for volatility-fueled profits.
XOMGSJPMMiddle East De-Escalation Talks: Why XOM, JPM, and SLB Benefit Most — and OXY Lags
US-Iran ceasefire talks in Islamabad on April 11 signal Middle East de-escalation, favoring integrated oils like XOM and CVX for stable refining, big banks JPM/BAC for lower provisions, and services SLB amid resilient rigs—while upstream OXY lags. Ranked conviction prioritizes cash-rich names. Watch negotiation breakthroughs and oil flows.
XOMJPMBACUS-Iran De-Escalation Talks: Why CVX, XOM, and JPM Are the Biggest Winners
US-Iran talks in Pakistan on April 11 signal Middle East de-escalation, lowering oil premiums and volatility to favor integrated majors (CVX, XOM), banks (JPM, BAC), services (SLB), and upstream (OXY). Ranked conviction highlights CVX and XOM for stability and FCF.
XOMOXYSLBApril CPI Spike: XOM and CVX Win as Higher-for-Longer Rates Crush AAL
April's fuel-driven CPI surge signals persistent US inflation, favoring oil majors XOM and CVX with production growth, banks like JPM via NII, while pressuring airlines AAL and rails UNP. Ranked picks prioritize energy exposure at reasonable valuations amid higher-for-longer rates.
XOMJPMAALCPI Hits 3.3% and Stagflation Fears Return — XOM, CVX, and NEM Top the Defense List
With March CPI surprising at 3.3%, stagflation fears are resurfacing. We analyze six defensive companies across energy, gold, utilities, and consumer staples, finding that Exxon Mobil, Chevron, and Newmont offer the best combination of direct inflation exposure, reasonable valuation, and strong dividends for a stagflationary environment.
XOMNEMNEEIran Policy Rift Lifts LMT, NOC, XOM — 6 Defense & Energy Stocks to Buy Now
Policy rifts between Trump and Netanyahu over Iran elevate US defense spending and oil risks, benefiting LMT, NOC, RTX, GD, XOM, and CVX. Defense firms show record backlogs and production ramps; energy majors leverage low-cost assets amid supply threats. NOC and LMT top the conviction list.
LMTNOCRTX$4 Gas Alert: MPC, VLO Surge While Ford and Costco Face the Squeeze
Strait of Hormuz threats fuel $4 gas fears, supercharging refiner margins for MPC and VLO while hitting Ford's truck sales and testing Costco's pricing power. Integrated majors XOM and CVX offer balanced upside amid volatility.
MPCVLOXOMIran Hormuz Tolls Threaten 20% of Oil Supply — XOM and CVX Top Winners as Asia Pivots
Iran's threatened Hormuz tolls on 20% of global oil flows are accelerating Asia's pivot to US exporters via barter deals. XOM and CVX top the winners with massive FCF and production ramps, while COP and refiners like MPC follow. Ranked conviction favors integrated upstream leaders amid tightening supply.
XOMCOPOXYInflation + Iran Risk: Why NOC and XOM Beat NVDA in a Higher-Rate Oil Spike
US labor stability and rising inflation pre-Iran conflict signal higher rates and oil spikes, favoring energy (XOM, CVX, OXY) and defense (RTX, NOC) over tech (NVDA). Top picks: NOC and XOM for balanced exposure and valuation.
XOMOXYRTXSaudi Arabia Cuts 600K BPD Amid Conflict — Why XOM and CVX Are Up 26% YTD and Rising
Saudi Arabia's 600,000 bpd oil capacity cut due to war, reported April 9, tightens global supply and sets up Exxon (XOM) and Chevron (CVX) for higher prices and cash flows. Despite a knee-jerk dip, YTD gains exceed 26% with fortress balance sheets (debt/EBITDA <1.2x) and robust Q4 FCF. Bullish stance: Buy majors and USO on this supply shock.
XOMUSO
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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