San Ramon, California-based Chevron Corporation (CVX) is a fully integrated oil & gas company focusing on oil & gas production, refining, and marketing. It operates through Upstream and Downstream segments. With a market cap of $268.8 billion, Chevron operates as one of the largest publicly traded oil & gas companies in the world.
The energy giant is set to announce its third-quarter results before the markets open on Friday, Oct. 31. Ahead of the event, analysts expect Chevron to deliver a non-GAAP EPS of $1.66, down a notable 33.9% from $2.51 reported in the year-ago quarter. While the company has missed Street’s bottom-line estimates once over the past four quarters, it has surpassed the projections on three other occasions.
For the full fiscal 2025, CVX is expected to report a 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 $7.93 per share.
CVX stock prices have gained nearly 4% over the past 52 weeks, outpacing the Energy Select Sector SPDR Fund’s (XLE) marginal 94 bps dip, but underperforming the S&P 500 Index’s ($SPX) 16.2% gains during the same time frame.
Chevron’s stock prices observed a marginal dip in the trading session following the release of its mixed Q2 results on Aug. 1. The quarter was marked with strong execution and record production. Its Permian Basin production increased to 1 million boepd, and U.S. and worldwide production hit new company records. However, due to lower crude prices, the company’s topline for the quarter dropped 12.4% year-over-year to $44.8 billion, missing the consensus estimates by 4.9%. Meanwhile, its adjusted EPS plummeted 30.6% year-over-year to $1.77, but surpassed the Street’s expectations by 4.1%.
Nonetheless, analysts remain optimistic about the stock’s longer-term prospects. CVX maintains a consensus “Moderate Buy” rating overall. Out of the 27 analysts covering the stock, 14 recommend “Strong Buy,” three advise “Moderate Buy,” nine suggest “Hold,” and one gives a “Strong Sell” rating. Its mean price target of $170.31 suggests an 8.8% upside potential from current price levels.
On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com
