Oil giant Chevron Corporation (NYSE:CVX) could be among the first companies in the sector to comment on how big the opportunity is inside Venezuela when the company reports fourth-quarter financial results before market open on Friday.
Here are the earnings estimates, analyst ratings and key items to watch.
Chevron Q4 Earnings Estimates
Analysts expect Chevron to report fourth-quarter revenue of $48.57 billion, down from $52.23 billion in last year's fourth quarter, according to data from Benzinga Pro.
The company has missed analyst revenue estimates in three straight quarters, but beaten estimates in six of the last 10 quarters overall.
Analysts expect Chevron to report fourth-quarter earnings per share of $1.45, down from $2.06 in last year's fourth quarter.
The company has beaten analyst estimates for earnings per share in two straight quarters and in five of the last 10 quarters overall.
Chevron Analyst Ratings and Price Targets
Analysts have been mixed on Chevron stock heading into the fourth-quarter financial results, with some raising price targets and others lowering.
Here are some of the latest analyst ratings on Chevron and their price targets:
- Morgan Stanley: Maintained Overweight rating, lowered price target from $180 to $174
- Barclays: Maintained Equal-Weight rating, raised price target from $158 to $166
- JPMorgan: Reinstated coverage with Overweight rating and price target of $176
- Jefferies: Maintained Buy rating, raised price target from $174 to $189
- Piper Sandler: Maintained Overweight rating, lowered price target from $178 to $174
Key Items to Watch in Chevron's Earnings Report
As one of the largest oil companies, Chevron will draw plenty of interest. The company could have some big names keeping tabs on what is said in the earnings report and conference call.
The recent military action in Venezuela, done by the Trump Administration, could benefit Chevron and other American oil companies. Chevron has been reported as one of the biggest potential winners from the action taken under President Donald Trump.
While Trump may not tune in to the earnings report, he will certainly be informed if anything positive or negative is said about him or the actions taken in Venezuela. Trump has previously said he didn't like comments about Venezuela from another oil executive, which could put greater emphasis on companies seeking preferential treatment in the country to make positive public comments.
Commentary from Chevron could help give investors an idea of how large the company’s opportunity is in Venezuela and what it could mean for the short-term and long-term potential of the company’s financials.
Another key figure who will be following the Chevron earnings report is legendary investor Warren Buffett. While he is no longer the CEO of Berkshire Hathaway (NYSE:BRK)(NYSE:BRK), Buffett remains Chairman and counts Chevron as one of his favorite stocks.
Chevron is the fifth-largest holding in the Berkshire Hathaway investment portfolio at around 6.7%. Berkshire owns around 6% of Chevron, according to CNBC.
The oil giant is also one of the 30 components of the Dow Jones Industrial Average, making its earnings report important for the overall market and the ETFs and funds that track the well-known price-weighted index.
Chevron is the 21st largest holding in the SPDR Dow Jones Industrial Average ETF (NYSE:DIA) at 2.13% of assets. The oil company will likely be more important to major oil ETFs than ETFs that track the Dow Jones. Chevron remains one of the highest-yielding Dow Jones stocks, which could make commentary on dividends a focus area to watch.
In the third quarter, Chevron reported strong production figures for the U.S. and globally, including some quarterly records. Investors and analysts will be looking to see if the strength continued in the fourth quarter and also eagerly anticipating new guidance from the oil giant.
Chevron Stock Price Action
Chevron shares was up 0.7% to $171.19 on Thursday versus a 52-week trading range of $132.04 to $174.92. Chevron stock is up 10.2% year-to-date in 2026.
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