Chevron (CVX) AI Stock Analysis

• Market Cap: $295.48B
• Dividend Yield: 4.57%
• Average Volume (3M): 8.49M
• Price to Earnings (P/E): 20.7
• Beta (1Y): 0.52
• Revenue Growth: -3.44%
• EPS Growth: -22.05%
• Country: US
• Employees: 45,298
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Integrated
• EPS (TTM): 1.85
• Shares Outstanding: 2,013,521,600
• 10 Day Avg. Volume: 9,116,055
• 30 Day Avg. Volume: 8,491,406
• PEG Ratio: -1.03
• Price to Book (P/B): 1.72
• Price to Sales (P/S): 1.36
• P/FCF Ratio: 17.43
• Enterprise Value/Market Cap: 1.16
• Enterprise Value/Revenue: 1.81
• Enterprise Value/Gross Profit: 9.64
• Enterprise Value/Ebitda: 8.19
• 1Y Price Target: $177.53
• Price Target Upside: 18.73% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 17
• EPS Forecast (FY): 7.29
• Revenue Forecast (FY): $187.21B

• Rating: 71 Outperform
• Price Target: $164.00 ▲(9.68% Upside)

Chevron's overall stock score reflects strong financial performance and positive earnings call highlights, including successful integration of Hess and robust cash generation. However, technical indicators suggest bearish momentum, and recent declines in revenue growth and cash flow metrics present challenges. The attractive dividend yield supports the valuation score.

Positive Factors

Strong Cash Generation

Chevron's robust cash generation enhances its ability to reinvest in growth opportunities and return value to shareholders, supporting long-term financial stability.

Hess Integration Success

Successful integration of Hess assets strengthens Chevron's market position and operational capabilities, contributing to sustainable growth.

ACES Green Hydrogen Project Launch

The launch of the ACES green hydrogen project positions Chevron as a leader in renewable energy, aligning with industry trends towards sustainability.

Negative Factors

Decreased Adjusted Earnings

Declining earnings indicate potential challenges in maintaining profitability, which could impact long-term financial performance if not addressed.

Revenue Growth Decline

A decline in revenue growth may signal challenges in market demand or operational efficiency, affecting Chevron's ability to sustain growth.

Operational Challenges

Operational disruptions like the refinery fire can lead to increased costs and reduced output, impacting Chevron's operational efficiency and profitability.

Chevron Business Overview & Revenue Model

Company Description

Chevron Corporation (CVX) is a multinational energy corporation based in the United States, primarily engaged in the exploration, production, refining, and distribution of oil and natural gas. The company operates in two main segments: Upstream, which focuses on the exploration and production of crude oil and natural gas, and Downstream, which encompasses refining, marketing, and distribution of petroleum products. Additionally, Chevron is involved in the production of renewable energy and has interests in various alternative energy projects, making it a key player in the global energy sector.

How the Company Makes Money

Chevron generates revenue primarily through its Upstream and Downstream operations. In the Upstream segment, the company earns money by extracting and selling crude oil and natural gas. The revenue from this segment is significantly influenced by global oil and gas prices, production volumes, and operational efficiency. In the Downstream segment, Chevron makes money from refining crude oil into various petroleum products, including gasoline, jet fuel, and lubricants, which are then sold through a network of retail stations and wholesale markets. The company also benefits from its global supply and trading operations, which optimize the purchase and sale of crude oil and refined products. Significant partnerships, such as joint ventures with other energy companies and strategic alliances in renewable energy projects, further enhance its revenue streams. Additionally, Chevron's efforts in cost management and technological advancements in extraction and refining processes contribute to its profitability.

Chevron Financial Statement Overview

Summary

Chevron demonstrates financial stability with strong profitability and a solid balance sheet. However, recent declines in revenue growth and cash flow metrics highlight potential areas of concern. The company remains well-positioned in the industry but should address operational efficiencies to sustain long-term growth.

Income Statement

Chevron's income statement shows a strong gross profit margin and consistent profitability, although recent revenue growth has been negative. The TTM data indicates a decline in EBIT and EBITDA margins, reflecting potential challenges in operational efficiency. Despite these challenges, the company maintains a solid net profit margin.

Balance Sheet

Chevron's balance sheet is robust with a low debt-to-equity ratio, indicating prudent financial leverage. The return on equity remains healthy, although it has decreased over the past year. The equity ratio is strong, reflecting a stable financial position.

Cash Flow

The cash flow statement reveals a decline in free cash flow growth, which could be a concern. However, the company maintains a reasonable free cash flow to net income ratio, suggesting efficient cash generation relative to earnings. Operating cash flow has decreased, impacting overall cash flow health.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	188.49B	193.41B	196.91B	235.72B	155.61B	94.47B
Gross Profit	35.42B	56.93B	60.39B	65.59B	45.43B	22.82B
EBITDA	41.68B	45.81B	47.81B	67.00B	39.36B	10.44B
Net Income	12.78B	17.66B	21.37B	35.47B	15.63B	-5.54B
Balance Sheet
Total Assets	326.50B	256.94B	261.63B	257.71B	239.53B	239.79B
Cash, Cash Equivalents and Short-Term Investments	7.73B	6.79B	8.22B	17.90B	5.67B	5.63B
Total Debt	41.54B	24.54B	20.84B	23.34B	31.37B	44.31B
Total Liabilities	130.90B	103.78B	99.70B	97.47B	99.59B	107.06B
Stockholders Equity	189.84B	152.32B	160.96B	159.28B	139.07B	131.69B
Cash Flow
Free Cash Flow	15.16B	15.04B	19.78B	37.63B	21.09B	1.68B
Operating Cash Flow	31.70B	31.49B	35.61B	49.60B	29.19B	10.58B
Investing Cash Flow	-8.33B	-8.94B	-15.23B	-12.11B	-5.87B	-6.96B
Financing Cash Flow	-20.48B	-23.47B	-30.11B	-24.98B	-23.11B	-3.74B

Chevron Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 149.52
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CVX, the sentiment is Neutral. The current price of 149.52 is below the 20-day moving average (MA) of 150.15, below the 50-day MA of 151.51, and above the 200-day MA of 147.61, indicating a neutral trend. The MACD of -0.83 indicates Positive momentum. The RSI at 47.03 is Neutral, neither overbought nor oversold. The STOCH value of 31.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CVX.

Chevron Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
COP	78 Outperform	$112.17B	12.84	15.37%	3.35%	8.41%	-16.12%
SHEL	78 Outperform	$200.38B	14.31	8.06%	4.00%	-6.96%	0.03%
XOM	74 Outperform	$483.62B	16.66	11.32%	3.43%	-4.17%	-14.15%
CVX	71 Outperform	$295.48B	20.72	7.38%	4.57%	-3.44%	-22.05%
BP	68 Neutral	$86.41B	55.66	2.52%	5.64%	-4.11%	-37.59%
OXY	67 Neutral	$38.34B	28.33	5.82%	2.36%	-2.48%	-65.26%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%

Chevron Corporate Events

Chevron Issues Floating Rate Notes Due 2075

On December 9, 2025, Chevron U.S.A. Inc., a subsidiary of Chevron Corporation, issued Floating Rate Notes due in 2075, amounting to $154,204,000. These notes are fully guaranteed by Chevron Corporation and will bear interest at a floating rate linked to Compounded SOFR. The issuance is part of a strategic financial maneuver to manage long-term debt, with implications for the company’s financial structure and market positioning.

Chevron Modernizes Officer Titles and Roles

On December 3, 2025, Chevron Corporation’s Board of Directors approved amendments to its By-Laws to modernize officer titles and align them with prevailing practices. These changes provide flexibility in officer roles and duties, reflecting a strategic move to streamline corporate governance. Additionally, the Board updated the list of executive officers, adding two new positions and revising titles to better align with industry standards, indicating a shift towards a more contemporary organizational structure.

Chevron Announces Upcoming Controller Transition

On October 29, 2025, Chevron announced that Alana K. Knowles will resign as Controller, effective February 28, 2026, in anticipation of her retirement in April 2026. The Board of Directors has appointed Amit R. Ghai as the new Controller, effective March 1, 2026, who has been with Chevron since 2004 and has extensive experience in finance, accounting, and treasury.

Chevron Reveals Q3 2025 Financial Impact from Hess Deal

On September 25, 2025, Chevron Corporation announced preliminary financial estimates for the third quarter of 2025, highlighting the impact of its acquisition of Hess Corporation. The acquisition is expected to result in a loss of $200 to $400 million, although adjusted earnings excluding transaction costs are estimated to be between $50 and $150 million. The company anticipates realizing synergies from the Hess transaction in future earnings, with significant cash outflows related to severance and transaction costs occurring in the third quarter. Chevron also expects a working capital outflow of $0.5 to $1.5 billion during this period.