NYSE: CVX
Chevron Corporation
Energy · Oil & Gas Integrated
Market Cap
$356.59B
52w High
$214.71
52w Low
$142.40
P/E
32.30
Volume
2.60M
Outstanding Shares
1.99B
Price vs Fundamentals
Why The Stock Is Moving
What changed
The stock rose 20.3% over the last year. Revenue declined 3.65% over the trailing twelve months. Operating margin moved from 8.95% to 8.4%. Free cash flow declined 2.37% over the trailing twelve months.
What the market seems to be pricing
The stock is rising despite deteriorating fundamentals and now sits at the 78th percentile of its historical P/FCF range. This is a momentum-driven move — the market may be front-running a recovery that has not yet appeared in reported numbers.
What would invalidate this read
Operating margin (currently 8.4%) would need to stabilize or improve to justify the move. Revenue is declining 3.65% — a trend reversal in the next report would be the key signal to watch. This read is wrong if the next period shows operating metrics turning the corner. At that point the price would be anticipating real improvement rather than running ahead of it.
Company profile
Chevron Corporation functions as a global energy and chemicals powerhouse, orchestrating its diverse operations worldwide.
Valuation
Stock splits
Every 1 shares became 2
Every 1 shares became 2
Every 1 shares became 2
Every 1 shares became 2
Every 20 shares became 21
Profitability & growth
Analyst consensus
34
Buy
15
Hold
4
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Aug 7, 2026
Q3 FY26 · EPS est $5.23 · Revenue est $63.24B
View
Dividends
$6.98/shareQuarterlyDividend Aristocrat · 45yrAdequateCVX pays a dividend with a 3.9% dividend yield, 45 consecutive years of growth, growing at 6.02% annually, covered 1.3× by free cash flow.
Dividend Yield
3.9%
Annual Div / Share
$6.98
5yr CAGR
+6.02%
Doubles every ~11.8yr
Payout Ratio
120.75%
Adequate
Dividend Growth Rate
3yr CAGR
+6%
5yr CAGR
+6.02%
10yr CAGR
+5.01%
Dividend History
Annualized dividend cycles per share
Income Projection
Today
$3/mo
In 5 yrs
$4/mo
In 10 yrs
$6/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$39/yr $3/mo | $52/yr+34% $4/mo | $70/yr+79% $6/mo |
Yield-on-cost grows from 3.9% → 7% over 10yr
Analysis
Dividend Strengths
Dividend Aristocrat
CVX has raised its dividend for 45 consecutive years — qualifying as a Dividend Aristocrat, demonstrating long-term commitment to shareholder income.
Strong dividend growth rate
The 5-year CAGR of 6.02% meaningfully outpaces inflation, compounding real income growth for long-term holders.
Risks to Watch
High payout ratio
With 120.75% of earnings paid as dividends, there is limited retained earnings for reinvestment — and a dividend cut becomes more likely if earnings decline.