Chevron
Produces oil and gas and turns them into fuels, lubricants, and petrochemicals.
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Profile
Produces crude oil, natural gas, LNG, and natural gas liquids, then refines and markets fuels, lubricants, petrochemicals, additives, and renewable fuels. Upstream drives most earnings, tying results closely to commodity prices, while the integrated Downstream network adds refining, trading, transportation, and retail reach.
Explores, develops, and produces crude oil, natural gas, natural gas liquids, and LNG through its Upstream segment. The portfolio spans North and South America, Europe, Africa, Asia, and Australia, with core positions in the Permian Basin, Guyana, Kazakhstan, the Gulf of America, the Eastern Mediterranean, and Australian LNG.
Refines crude oil and markets gasoline, jet fuel, diesel, lubricants, renewable fuels, petrochemicals, and additives through Downstream. Integration connects production with refining, supply, trading, transportation, retail brands, and the Chevron Phillips Chemical joint venture.
Earnings depend mostly on Upstream profitability and therefore on globally set crude-oil prices. Downstream results depend on refining and marketing margins, reliable asset operation, feedstock and energy costs, and product demand; both segments operate under country-specific contracts, taxes, environmental rules, and production terms.
Company facts
Key statistics
Year to date +29.5% · Average volume (30d) 7.6M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 19, 2026 | Morgan Stanley | Reiterate | Overweight | $214 | $218 | |
| Aug 17, 2026 | Barclays | Reiterate | Equal Weight | $216 | $208 | |
| Aug 3, 2026 | Bernstein | Reiterate | Market Perform | $204 | $209 | |
| Aug 3, 2026 | Mizuho Securities | Target | $230 | $224 | ||
| Aug 3, 2026 | Barclays | Reiterate | Equal Weight | $213 | $216 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 31, 2026Q2 FY26 | $5.55 | $6.06 | +9.2% | $62.72B | $70.06B | +11.7% | +2.35% |
| May 1, 2026Q1 FY26 | $1.00 | $1.41 | +41.0% | $51.86B | $48.61B | −6.3% | +0.87% |
| Jan 30, 2026Q4 FY25 | $1.41 | $1.52 | +7.8% | $46.79B | $46.87B | +0.2% | −1.62% |
| Oct 31, 2025Q3 FY25 | $1.69 | $1.85 | +9.5% | $48.94B | $48.17B | −1.6% | −2.33% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $46.10B | $44.38B | $48.17B | $45.79B | $47.56B | $67.20B | |
| Gross profit | $13.37B | $13.17B | $14.99B | $14.56B | $4.55B | $30.59B | |
| Operating income | $4.30B | $4.06B | $4.30B | $4.02B | $3.24B | $21.48B | |
| Net income | $3.50B | $2.49B | $3.54B | $2.77B | $2.21B | $12.07B | |
| Diluted EPS | $2.00 | $1.45 | $1.82 | $1.39 | $1.11 | $6.11 | |
| Gross margin | 29.0% | 29.7% | 31.1% | 31.8% | 9.6% | 45.5% | |
| Operating margin | 9.3% | 9.1% | 8.9% | 8.8% | 6.8% | 32.0% |
Fiscal years (4-quarter sums)FY21 $155.61B · FY22 $235.72B · FY23 $196.91B · FY24 $193.41B · FY25 $184.43B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $8.53B · Total debt $37.08B · Total assets $330.14B · Shareholders' equity $189.88B
Dividends
Raised for 41 straight years — most recently to $1.78 from $1.71 in Feb 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 19, 2026 | Aug 19 | Sep 10 | $1.78 | |
| May 19, 2026 | May 19 | Jun 10 | $1.78 | |
| Feb 17, 2026 | Feb 17 | Mar 10 | $1.78 | raised from $1.71 |
| Nov 18, 2025 | Nov 18 | Dec 10 | $1.71 | |
| Aug 19, 2025 | Aug 19 | Sep 10 | $1.71 | |
| May 19, 2025 | May 19 | Jun 10 | $1.71 | |
| Feb 14, 2025 | Feb 14 | Mar 10 | $1.71 | raised from $1.63 |
| Nov 18, 2024 | Nov 18 | Dec 10 | $1.63 |
Ownership
Shares outstanding 1.99B · Float 1.98B · 99.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 154.82M | 7.77% | 13F | Aug 7, 2026 |
| State Street Corp | 148.45M | 7.45% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 122.90M | 6.17% | 13F | Aug 13, 2026 |
| Berkshire Hathaway Inc | 84.38M | 4.24% | 13F | Aug 14, 2026 |
| Geode Capital Management, LLC | 44.54M | 2.24% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 18, 2026 | R. Hewitt Pate | officer: Chief Legal Officer | −2,470 | $205.11 |
| Aug 17, 2026 | Andrew Benjamin Walz | officer: President, DM&C | −16,800 | $201.06 |
| Aug 14, 2026 | Michael K. Wirth | director, officer: Chairman and CEO | −317,100 | $200.46 |
| Aug 11, 2026 | Jeff B. Gustavson | officer: President, New Energies | −14,044 | $194.95 |
| Aug 5, 2026 | Michael K. Wirth | director, officer: Chairman and CEO | −5,547 | $187.00 |
Peers
- ExxonMobil
Largest US oil major; rival in Permian, Guyana, LNG, refining, and chemicals.
- Shell (ADR)
World-leading LNG trader and Gorgon co-venturer; full integration rival.
- BP (ADR)
British supermajor; full E&P and refining rival including US Whiting refinery.
- TotalEnergies
French supermajor; third-largest LNG globally; full E&P and refining rival.
- ConocoPhillips
Largest US pure-play E&P; Permian and LNG rival, 2.4M boe/d production.
- Occidental Petroleum
Permian-focused E&P rival with world-leading CO2-EOR and Direct Air Capture.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Chevron | $204.35 | +1.24% | $402.06B | 19.4 | 13.2 | 1.9 | +57.9% |
| ExxonMobil | $156.80 | +0.08% | $649.44B | 20.2 | 13.2 | 1.8 | +46.0% |
| Shell (ADR) | $91.47 | +0.63% | $253.47B | 10.0 | 9.2 | 0.8 | +44.7% |
| BP (ADR) | $42.30 | +0.38% | $110.54B | 21.1 | 8.3 | 0.5 | +46.5% |
| TotalEnergies | $86.31 | −0.05% | $192.30B | 10.9 | 8.4 | 1.0 | +26.2% |
| ConocoPhillips | $129.95 | −0.32% | $158.80B | 17.3 | 13.4 | 2.5 | +39.7% |
| Occidental Petroleum | $59.23 | +0.23% | $58.78B | 9.1 | 13.2 | 2.3 | +27.7% |
| Median | 14.1 | 11.2 | 1.4 | +42.2% |