The headline numbers for Chevron (CVX) give insight into how the company performed in the quarter ended March 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
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Chevron (CVX) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Chevron stands to benefit from higher petroleum prices driven by US-Iran tensions and disruptions in the Strait of Hormuz. Q1'26 saw a $0.44 EPS beat, a 21% Q/Q rise in realized crude prices, and a 29% Q/Q upstream profit growth, despite a $4.1B revenue miss. Production growth is underpinned by Permian Basin and Guyana expansion, following PDC Energy and Hess acquisitions.
With crude prices hovering above $100 per barrel, investors may be wondering which oil giant is the better investment after their stronger-than-expected Q1 results.
One of the topics from CNBC's Halftime Report show on May 1, 2026 was that integrated oil majors, like Exxon Mobil (NYSE:XOM | XOM Price Prediction) and Chevron (NYSE:CVX), have spent a decade rebuilding themselves into disciplined cash-return vehicles.
Chevron (CVX) presents a long-term opportunity for buy-and-hold investors. Recent earnings weakness, especially in International Downstream, stemmed from mark-to-market and inventory accounting. Hedging losses and LIFO inventory effects are non-cash and should reverse or net out over time, making cash flow the key metric.
Chevron's Q1 results came as a disappointment to most investors and the market reacted accordingly. The short-term headwinds will dissipate over the coming quarters, but the share price already reflects that. There's no longer a short-term opportunity to capitalize on, but the attractiveness of the business over the long run remains.
Chevron CFO Eimear Bonner says the company's portfolio is resilient to recent geopolitical risks. Speaks on "Bloomberg The Close," Bonner also comments on the company's buyback strategy and rising oil prices.