Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
---|
Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
---|
Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
---|
Shares of Chevron Corp (NYSE:CVX) tanked in early trading on Monday, as the company reported downbeat second-quarter results just days after unveiling plans to relocate its headquarters.
The results came amid an exciting earnings season. Here are some key analyst takeaways.
Check out other analyst stock ratings.
RBC Capital Markets: Chevron reported an earnings miss due to "weaker upstream and downstream results," Borkhataria said. "Operationally, CVX continues to perform well with Permian production hitting a(nother) new record, and full-year guidance raised," while further de-risks the 1mboed 2025 target, he added.
Arbitration delays are proving to be "a significant distraction to what is otherwise a clear investment case," the analyst stated. He added, however, that the weakness in the stock is "pricing in a more negative scenario already."
Truist Securities: Chevron reported its earnings and free cash flows below consensus due to weak commodity prices and downstream earnings, Dingmann said. Stabroek JOA (Joint Operating Agreement) has set a hearing for 2025, further delaying the closure of the Hess acquisition, he added.
"In additional to Permian production likely hitting 1+ mmboepd next year, CVX could see solid GOM production upside by 2026 all the while reducing unit drilling costs," the analyst wrote. The company may keep its quarterly dividend at $1.63 per share, while reaching its share buyback target of $17.5 billion this year, he further stated.
Goldman Sachs: Chevron reported adjusted earnings of $2.55 per share, missing its own guidance of $2.93 per share, Mehta said. Production volumes came in higher than anticipated, with the beat being driven by higher International gas, he added.
"On TCO, the company noted completion of TA on the Second Generation Injection plant and progressed start-up of the WPMP project," the analyst wrote. The earnings call could focus on updates on the Hess transaction, commentary around the Tengiz execution, upstream volume outlook, and expectations for capital returns, he further stated.
CVX Price Action: Shares of Chevron had declined by 3.22% to $143.77 at the time of publication on Monday.
Now Read:
Image: Shutterstock
Posted In: CVX