Chevron Corporation (CVX), headquartered in San Ramon, California, is a fully integrated oil and gas company focused on the production, refining and marketing of oil and gas. It operates through the Upstream and Downstream segments. With a market capitalization of $268.8 billion, Chevron operates as one of the world’s largest publicly traded oil and gas companies.
The energy giant will announce its third quarter results before markets open on Friday, October 31. Ahead of the event, analysts expect Chevron to post non-GAAP EPS of $1.66, down a notable 33.9% from the $2.51 reported in the prior-year quarter. While the company missed final Street estimates once in the past four quarters, it beat projections three other times.
For full fiscal 2025, CVX is expected to post non-GAAP EPS of $7.18, down 28.6% from $10.05 in fiscal 2024. While in fiscal 2026, its earnings are expected to grow 10.5% year over year to $7.93 per share.
CVX share prices have gained nearly 4% over the past 52 weeks, outpacing the Energy Select Sector SPDR Fund’s (XLE) marginal 94bp decline, but lagging the S&P 500 Index ($SPX)’s 16.2% gains over the same time period.
Chevron stock prices saw a marginal decline in the trading session following the release of its mixed second quarter results on August 1. The quarter was marked by strong execution and record production. Its Permian Basin production increased to 1 million boepd, and U.S. and global production reached new records for the company. However, due to lower crude oil prices, the company’s revenue for the quarter fell 12.4% year over year to $44.8 billion, missing consensus estimates by 4.9%. Meanwhile, its adjusted EPS plunged 30.6% year over year to $1.77, but beat Street expectations by 4.1%.
However, analysts remain optimistic about the stock’s long-term prospects. CVX maintains an overall consensus rating of “Moderate Buy.” Of the 27 analysts covering the stock, 14 recommend a “Strong Buy,” three recommend a “Moderate Buy,” nine suggest a “Hold,” and one gives a “Strong Sell” rating. Its average price target of $170.31 suggests 8.8% upside potential from current price levels.
On the date of publication, Aditya Sarawgi had no (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. This article was originally published on Barchart.com