Recent trading activity for Chevron (CVX, Financial) shows that the options market is maintaining its average pace, with a total of 7,570 contracts exchanged. The put/call ratio is significantly below its standard level, registering at 0.29 compared to an average of around 0.92, indicating a preference for calls over puts.
Furthermore, the implied volatility (IV30) for CVX has slightly decreased by 0.52%, bringing it to 26.97%. This places it within the top 25% of its historical range, pointing to an anticipated daily price movement of $2.33 for the stock. Additionally, the put-call skew has become less pronounced, signaling a slightly optimistic sentiment among traders.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 22 analysts, the average target price for Chevron Corp (CVX, Financial) is $164.75 with a high estimate of $197.00 and a low estimate of $124.00. The average target implies an upside of 20.29% from the current price of $136.96. More detailed estimate data can be found on the Chevron Corp (CVX) Forecast page.
Based on the consensus recommendation from 25 brokerage firms, Chevron Corp's (CVX, Financial) average brokerage recommendation is currently 2.4, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Chevron Corp (CVX, Financial) in one year is $157.57, suggesting a upside of 15.05% from the current price of $136.9616. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Chevron Corp (CVX) Summary page.
CVX Key Business Developments
Release Date: May 02, 2025
- Earnings: $3.5 billion or $2 per share; Adjusted earnings of $3.8 billion or $2.18 per share.
- Cash Returned to Shareholders: $6.9 billion through dividends and buybacks.
- Cash Flow from Operations: $7.6 billion, excluding working capital.
- Organic CapEx: $3.5 billion, the lowest quarterly total in two years.
- Inorganic CapEx: Approximately $400 million.
- Net Debt Ratio: 14%, below the target range of 20% to 25%.
- Share Repurchases: Expected to be $2.5 billion to $3 billion in the second quarter.
- Production: First quarter oil equivalent production was flat compared to last quarter.
- Adjusted Upstream Earnings: Flat to last quarter.
- Adjusted Downstream Earnings: Higher due to improved refining margins and lower maintenance.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Chevron Corp (CVX, Financial) returned $6.9 billion to shareholders through dividends and buybacks in the first quarter.
- The company achieved first oil at Ballymore in the Gulf of America, contributing to a projected increase in production to 300,000 barrels of oil equivalent per day by 2026.
- Chevron Corp (CVX) has a strong balance sheet with a net debt ratio of 14%, well below its target range of 20% to 25%.
- The company has a proven track record of managing through uncertainty in commodity cycles, with a focus on cost and capital discipline.
- Chevron Corp (CVX) is expanding its pipeline of future opportunities, adding more than 11 million net exploration acres since the start of last year.
Negative Points
- Chevron Corp (CVX) reported earnings of $3.5 billion, which included special items totaling $175 million, impacting overall profitability.
- The company issued new long-term debt of $5.5 billion in the quarter, which could impact future financial flexibility.
- Chevron Corp (CVX) has reduced its buyback guidance to the lower end of its $10 billion to $20 billion range due to current market conditions.
- The company faces challenges in the California refining market due to state policies that make it difficult to invest in the region.
- Chevron Corp (CVX) is experiencing cost pressures in its Power Ventures due to inflationary pressures in the space.
