CVX

Chevron CorporationNYSE · Integrated Oil & Gas · Energy

Previous close

235.52

Change

+4.06 / +1.75%

FinDog View

Bullish

52-Week Range ?

146.49 – 236.48

P/E (TTM) ?

22.6

Forward P/E ?

14.2

Based on consensus earnings for the next 12 months

Market Cap

$465B

+15.33%

S&P 500 −0.91% over same period

Volume / Avg Volume

11.0M / 7.3M

1.51× average

Latest earnings analysisFY2026 Q2Reported 2026-07-31

Chevron Q2 2026: profit jumps to $12.07B as oil prices surge

Chevron's second quarter 2026 was a blowout: revenue of $67.199 billion, net income of $12.072 billion and adjusted EPS of $6.06 that beat the $5.615 consensus estimate by 7.9%. The catch is that most of it came from outside the company — Brent averaged $104 a barrel versus $68 a year ago, plus 20 percent higher production after the Hess deal. Read this as an oil-price and volume story first, and a refining-margin story second.

Read the full analysis →

Revenue$67.20BYoY +51.40%

EPS (non-GAAP)$6.06Beatest. $5.62

Next-day move−1.85%

Price History

Closing price · USD1M 6M 1Y 5Y

Historical P/E

Close ÷ trailing four-quarter EPS · Period median 28.91M 6M 1Y 5Y

Recent Earnings

Click to read the FinDog analysis

Period	Reported	Revenue	EPS Actual / Est.	Next-Day Move	Analysis
FY2026 Q2 Quarter ended 2026-06	2026-07-31	$67.2B	6.06 / 5.62	−1.85%	Read analysis →
FY2026 Q1 Quarter ended 2026-03	2026-04-09	$47.6B	1.41 / 0.96	−0.95%	Pending
FY2025 Q4 Quarter ended 2025-12	2026-01-30	$184B	1.52 / 1.46	−1.62%	Pending
FY2025 Q3 Quarter ended 2025-09	2025-10-31	$48.2B	1.85 / 1.70	−2.33%	Pending
FY2025 Q2 Quarter ended 2025-06	2025-08-01	$44.4B	1.77 / —	−0.24%	Pending
FY2025 Q1 Quarter ended 2025-03	2025-05-08	$46.1B	2.00 / —	+1.06%	Pending

Next Earnings

Date and consensus from the earnings calendar; the analysis is generated automatically after the releaseEarnings Calendar →

Report date

2027-01-28

in 87 days · After hours

Consensus EPS

$5.30

Last quarter EPS $6.06

Avg. next-day move over the last 6 reports

±1.3%

Decision Panel

Trends · Valuation · Earnings reaction · Guidance credibility — all from company filings and market data

Valuation

P/E is at percentile 81 of its 5-year rangeExpensive

5-year range 10.5 – 31.8 · Median 16.4

Last 4 quarters: $11.1B in buybacks + $13.9B in dividends, 5.38% of market cap combined

P/E (TTM)

22.6

P/B

2.5

P/S

2.2

Dividend Yield

4.17%

Earnings Reaction

Over the last 6 reports, the stock moved ±1.3% on average on the first trading day after, rising 1 times

Most recent −1.85%

Volatility & Correlation

1-year beta -0.61 · Correlation with S&P 500 -0.32Low beta

Annualized volatility 24% vs. 13% for the S&P 500

Insider Trading

View all →

Last 90 days · Open-market buys and sells by officers and directors · Amounts in USD millions

Buy 0 · $0.00MSell 8 · $238MNet selling $238M

10-20Pate R. HewittChief Legal OfficerSell$9.2M40,700 shares · Avg price 226.65
10-19Pate R. HewittChief Legal OfficerSell$0.54M2,400 shares · Avg price 225.61
08-18Pate R. HewittChief Legal OfficerSell$0.51M2,470 shares · Avg price 205.11
08-17Walz Andrew BenjaminPresident, DM&CSell$3.4M16,800 shares · Avg price 201.06
08-14Wirth Michael KChairman and CEOSell$63.6M317,100 shares · 2 trades · Avg price 200.46
08-11GUSTAVSON JEFF BPresident, New EnergiesSell$2.7M14,044 shares · Avg price 194.95
08-05Wirth Michael KChairman and CEOSell$1.0M5,547 shares · Avg price 187.00
08-03HESS JOHN BDirectorSell$157M810,665 shares · 8 trades · Avg price 194.12

Multi-Quarter Financial Trends

View all quarters →

Last 12 quarters · As reported by the company

Quarter	Revenue ($B)	YoY	Gross Margin	Operating Income ($B)	Net Income ($B)	Free Cash Flow ($B)	EPS
FY2026 Q2	67.20	+51.4%	45.5%	—	12.07	22.63	6.11
FY2026 Q1	47.56	+3.2%	40.6%	—	2.21	2.51	1.11
FY2025 Q4	45.79	−5.3%	44.6%	—	2.77	10.79	1.36
FY2025 Q3	48.17	−1.5%	43.1%	—	3.54	9.39	1.82
FY2025 Q2	44.38	−10.5%	39.5%	—	2.49	8.58	1.45
FY2025 Q1	46.10	−1.0%	37.9%	—	3.50	5.19	2.00
FY2024 Q4	48.33	−1.2%	37.6%	—	3.28	8.70	1.84
FY2024 Q3	48.93	−5.8%	37.8%	—	4.49	9.67	2.48
FY2024 Q2	49.57	+5.0%	37.7%	—	4.43	6.30	2.43
FY2024 Q1	46.58	−4.6%	40.4%	—	5.50	6.83	2.97
FY2023 Q4	48.93	−10.3%	41.8%	—	2.29	12.43	1.22
FY2023 Q3	51.92	−18.2%	37.7%	—	6.53	9.67	3.48

Peers

Largest by market cap in the sector · Latest quarterView Energy sector →

Ticker	Company	Market Cap	P/E	Revenue YoY	Gross Margin	1M	View
CVX	Chevron Corporation	$465B	22.6	+51.4%	45.5%	+15.33%	Bullish
XOM	ExxonMobil	$753B	22.6	+42.3%	—	+15.05%	Neutral	Compare
COP	ConocoPhillips	$184B	19.7	+43.3%	62.9%	+23.08%	Bullish	Compare
MPC	Marathon Petroleum	$124B	14.2	+53.8%	17.2%	+12.47%	Neutral	Compare
VLO	Valero Energy	$121B	15.4	+43.3%	20.4%	+3.11%	Bullish	Compare
PSX	Phillips 66	$109B	15.0	+46.4%	19.2%	+10.78%	Bullish	Compare
WMB	Williams Companies	$87.7B	29.6	+0.0%	—	+9.39%	Neutral	Compare
EOG	EOG Resources	$86.6B	12.6	+57.4%	—	+20.17%	Bullish	Compare
SLB	Schlumberger	$78.6B	25.5	+5.8%	—	+10.30%	Neutral	Compare

Earnings Preview · Reports 10-30 Pre-market

Chevron Q3 preview: can high-oil-price gains last?

Whether EPS holds near last quarter's $6.11
Revenue after $67.2 billion; output vs. oil price mix
Cash flow and debt paydown pace after $8.4 billion last quarter

No consensus estimate available; no explicit guidance last quarter, with $6.11 EPS and $67.2 billion revenue as reference.

Average move ±1.3% over the past 6 reports, up only 2 times; last move -1.9%.

Watch out for：If oil prices fall, the price-driven and one-off boost from Q2 will be hard to repeat.

The View in One Line

Revenue +51.4%, EPS 6.06 beat, operating cash flow $22.6B, debt cut $8.4B, ROCE 21.4%; oil price and timing gains unsustainable, still bullish.

Updated 2026-10-30

View History

09-17Neutral → Bullish
Revenue +51.4%, EPS beat, operating cash flow $22.6bn, debt cut $8.4bn, ROCE 21.4%; oil price and timing gains unsustainable, still bullish.

Notable Institutional Holders

Berkshire Hathaway · Warren Buffett$14.0BUnchanged 0%
Citadel Advisors · Ken Griffin$580MAdded +145%
Renaissance Technologies$476MAdded +42%
Bridgewater Associates · Ray Dalio$25.7MAdded +5374%

As of 2026-06-30

ETFs holding it

XLE Energy Select Sector SPDR Fund18.31%
SCHD Schwab U.S. Dividend Equity ETF4.47%
DIA SPDR Dow Jones Industrial Average ETF Trust2.70%
MTUM iShares MSCI USA Momentum Factor ETF2.21%
VYM Vanguard High Dividend Yield ETF1.75%
VTV Vanguard Value ETF1.59%
SPY SPDR S&P 500 ETF Trust0.71%
VOO Vanguard S&P 500 ETF0.68%

Weights estimated at latest prices

Key Events

10-06M&A / Contracts
Chevron to Divest Hess Midstream and DJ Basin Midstream Assets
Chevron announced on October 6, 2026 it will divest its Hess Midstream interests and DJ Basin crude midstream assets, expecting a $3-4 billion after-tax loss, closing by year-end 2026.Source ↗
10-05Management Change
Chevron CFO Change: Bonner to Oil & Gas President, Gustavson Named CFO
Chevron announced Eimear Bonner will step down as CFO to become President of Oil, Products & Gas, and Jeff Gustavson will succeed her as CFO, effective January 1, 2027.Source ↗
05-29Management Change
Chevron Chief Legal Officer Pate to Step Down at Year-End
R. Hewitt Pate notified the board on May 27, 2026 that he will resign as Chief Legal Officer on December 31 and is expected to retire in June 2027.Source ↗
05-29Governance
Chevron Annual Meeting Completes Director Elections and Several Votes
On May 27, 2026, Chevron shareholders elected all 12 directors, approved PwC as 2026 auditor, gave 97% support to executive compensation, and rejected all three shareholder proposals.Source ↗
03-25Governance
Chevron Amends Bylaws, Adjusts Director Election Rules
Chevron's board approved amended bylaws on March 25, 2026, shifting election of the chairman and lead independent director to non-employee directors and allowing John Hess to participate in related board activities.Source ↗

Key Financial Trends

Quarterly Revenue ($B)67.2

Gross Margin45.5%

Free Cash Flow ($B)22.6