What is Scotiabank’s Forecast for Chevron FY2026 Earnings?

Chevron Corporation (NYSE:CVX) – Analysts at Scotiabank increased their FY2026 earnings estimates for shares of Chevron in a research report issued to clients and investors on Wednesday, February 11th. Scotiabank analyst P. Cheng now anticipates that the oil and gas company will earn $4.70 per share for the year, up from their previous forecast of $3.75. Scotiabank currently has a “Sector Perform” rating and a $168.00 target price on the stock. The consensus estimate for Chevron’s current full-year earnings is $10.79 per share. Scotiabank also issued estimates for Chevron’s FY2027 earnings at $6.55 EPS.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. The company had revenue of $45.79 billion during the quarter, compared to analysts’ expectations of $48.18 billion. Chevron had a return on equity of 8.23% and a net margin of 6.51%.Chevron’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.06 EPS.

A number of other research firms have also recently issued reports on CVX. Freedom Capital cut shares of Chevron from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 6th. UBS Group reiterated a “buy” rating and issued a $212.00 target price on shares of Chevron in a research report on Monday, February 2nd. Argus set a $203.00 price target on shares of Chevron in a research report on Tuesday, February 3rd. Bank of America lowered their price objective on Chevron from $183.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. Finally, Morgan Stanley reduced their price objective on Chevron from $180.00 to $174.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $175.00.

Chevron Stock Up 0.7%

Chevron stock opened at $183.65 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86. The stock has a market capitalization of $369.79 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 12.16 and a beta of 0.70. The business has a 50 day simple moving average of $162.51 and a 200-day simple moving average of $157.45. Chevron has a 12 month low of $132.04 and a 12 month high of $186.52.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be issued a dividend of $1.78 per share. The ex-dividend date is Tuesday, February 17th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.9%. This is a boost from Chevron’s previous quarterly dividend of $1.71. Chevron’s dividend payout ratio (DPR) is currently 102.70%.

Insider Activity

In other Chevron news, Vice Chairman Mark A. Nelson sold 45,800 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $174.17, for a total value of $7,976,986.00. Following the transaction, the insider owned 7,161 shares of the company’s stock, valued at $1,247,231.37. This represents a 86.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Eimear P. Bonner sold 32,100 shares of Chevron stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $175.01, for a total transaction of $5,617,821.00. Following the sale, the chief financial officer owned 4,366 shares of the company’s stock, valued at approximately $764,093.66. This represents a 88.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 793,163 shares of company stock worth $127,920,502. 0.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Core Wealth Advisors LLC purchased a new stake in Chevron during the 4th quarter worth approximately $26,000. Karpus Management Inc. acquired a new position in Chevron in the fourth quarter valued at approximately $27,000. Quattro Advisors LLC purchased a new position in Chevron in the fourth quarter valued at approximately $27,000. Quaker Wealth Management LLC raised its holdings in Chevron by 197.7% during the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 439 shares in the last quarter. Finally, Strategic Wealth Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter worth approximately $33,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Venezuela is set to grant additional oil drilling blocks to Chevron and Repsol, a development that would expand production opportunity and reserves in a high-impact basin. Venezuela set to grant more oil drilling blocks to Chevron, Repsol – Bloomberg
• Positive Sentiment: Chevron has begun processing Venezuelan crude at a Gulf Coast refinery — a tangible near-term boost to volumes/refining feedstock access and a sign of resumed operations tied to political changes. Inside Chevron’s flagship refinery tapping into Venezuelan crude after Maduro’s capture
• Positive Sentiment: Chevron is returning to Libya and pursuing exploration/blocks in the Sirte Basin — a move that increases long‑term upstream optionality if political/security conditions hold. Big Oil embraces global exploration again as Chevron returns to Libya
• Positive Sentiment: Company scale in the Permian (1M boe/d) and deployment of AI/mineral-right advantages were highlighted as drivers of cash flow and cost efficiency — supportive for free cash flow and shareholder returns. Chevron’s Permian Scale Drives Cash Flow and Efficiency Edge
• Positive Sentiment: Unusual options activity: traders bought roughly 1,009,814 call options (a ~2,066% jump vs. typical volume), signaling bullish sentiment or speculative positioning that can add upward price momentum.
• Neutral Sentiment: Bangchak has acquired Chevron’s Hong Kong unit as part of regional restructuring — a non-core asset sale that is likely neutral to core upstream earnings but could slightly simplify regional operations. Bangchak acquires Chevron’s Hong Kong unit to fuel regional expansion
• Neutral Sentiment: Insider disclosure: Chevron CTO Thomas Ryder Booth sold 5 shares (de minimis), an immaterial transaction unlikely to affect investor view. SEC Form 4 disclosure

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.