Chevron Corporation's Stock Analysis

Chevron Issues $154 Million Floating Rate Notes Due 2075

Chevron U.S.A. Inc., a subsidiary of Chevron Corporation, issued Floating Rate Notes totaling $154,204,000, which will mature on December 9, 2075. These notes are fully guaranteed by Chevron Corporation and rank equally with other unsecured and unsubordinated debts. Interest payments will be made quarterly, starting March 9, 2026, at a floating rate based on Compounded SOFR minus 45 basis points.

The issuance was facilitated through an Underwriting Agreement with several financial institutions, including Morgan Stanley and J.P. Morgan. The relevant documents, including the Prospectus and Final Prospectus Supplement, have been filed with the Securities and Exchange Commission. The Notes will be structurally subordinated to any existing or future indebtedness of Chevron Corporation, while CUSA's obligations under the Notes are not subordinated to any of its own other debts.

Dec 09, 2025 16:18:53

Chevron Updates By-Laws and Executive Officer Titles

On December 3, 2025, Chevron Corporation's Board of Directors approved amended and restated By-Laws aimed at simplifying the company's officer structure. The changes allow for greater flexibility in officer titles and responsibilities, enabling the Board to create new officer positions as needed without specifying them in the By-Laws. This modernization aligns officer titles with current practices in corporate governance.

Additionally, the Board approved an updated list of executive officers, which includes the addition of two new executives and changes to certain titles. These updates reflect Chevron's efforts to adapt its management structure to better meet contemporary standards and operational needs.

Dec 05, 2025 16:21:15

Chevron Announces Leadership Changes in Financial Management

On October 29, 2025, Chevron Corporation announced that Alana K. Knowles will resign from her position as Controller, effective February 28, 2026, in anticipation of her retirement in April 2026. The company has elected Amit R. Ghai as her successor, effective March 1, 2026. Ghai has been with Chevron since 2004 and has held various roles in finance and accounting, including his most recent position as Assistant Controller since October 2020.

Amit R. Ghai's appointment as Controller positions him as Chevron's principal accounting officer. His previous experience includes serving as Controller for Downstream & Chemicals and General Manager of Finance for Supply and Trading. The leadership transition in the financial management team may impact the company's financial operations as it prepares for future challenges.

Nov 03, 2025 08:11:08

Chevron Reports Third Quarter 2025 Earnings and Production Records

Chevron Corporation announced its third quarter 2025 earnings of $3.5 billion, translating to $1.82 per share, a decrease from $4.5 billion or $2.48 per share in the same period last year. The earnings were impacted by a net loss of $235 million related to the acquisition of Hess Corporation and lower crude oil prices, although the company reported record production levels of 4.1 million barrels of oil equivalent per day, a 21% increase from the previous year. Adjusted earnings for the quarter were $3.6 billion, down from $4.5 billion in the prior year, but cash flow from operations remained strong at $9.4 billion, with adjusted free cash flow rising more than 50% year-over-year to $7.0 billion.

In terms of shareholder returns, Chevron returned $6 billion in the quarter, including $3.4 billion in dividends and $2.6 billion in share repurchases. The company declared a quarterly dividend of $1.71 per share, payable on December 10, 2025. Notable business developments included the successful integration of Hess, the achievement of first oil at the Yellowtail project in Guyana, and advancements in liquefied natural gas sales agreements. Overall, Chevron's financial performance and production achievements reflect its operational strength and ongoing investments in growth.

Oct 31, 2025 06:16:33

Chevron Reports Estimated Losses from Hess Acquisition Impact

Chevron Corporation has provided estimates regarding the financial impact of its acquisition of Hess Corporation for the third quarter of 2025. The company anticipates a loss between $200 million and $400 million related to the acquisition, while adjusted earnings from Hess are expected to be between $50 million and $150 million, excluding severance and other transaction costs. Approximately half of the cash outflows associated with severance and other costs are expected to occur in the same quarter, contributing to an overall working capital outflow of $0.5 billion to $1.5 billion.

The company expects to have around 2 billion shares of common stock outstanding by the end of September 2025, with an estimated 1.95 billion weighted average shares during the third quarter. This preliminary financial information is based on management's estimates and has not been reviewed by independent accountants. The final financial results will be reported on or around October 31, 2025, and may be subject to adjustments.

Sep 25, 2025 08:00:43

Chevron Issues $4.4 Billion in New Debt Securities

Chevron U.S.A. Inc. has issued a total of $4.4 billion in various debt securities, including fixed and floating rate notes with maturities ranging from 2027 to 2035. The notes include 3.950% and 4.050% fixed rate notes, as well as floating rate notes linked to Compounded SOFR. The obligations under these notes are fully guaranteed by Chevron Corporation and rank equally with other unsecured and unsubordinated debt of the corporation.

The interest payments on the notes will begin in 2026, with fixed rate notes paying interest semi-annually and floating rate notes paying interest quarterly. Chevron has the option to redeem the fixed rate notes prior to maturity, while the floating rate notes cannot be redeemed early. This issuance is part of Chevron's ongoing financing strategy and comes with a detailed prospectus filed with the SEC, outlining the terms and conditions of the offering.

Aug 13, 2025 16:16:58

Chevron Reports Second Quarter 2025 Earnings and Production Records

Chevron Corporation reported unaudited earnings of $2.5 billion for the second quarter of 2025, down from $4.4 billion in the same quarter of 2024. Adjusted earnings were $3.1 billion, reflecting a decrease primarily due to lower crude oil prices and a fair value loss related to Hess Corporation shares. The company achieved record production levels, with output from the Permian Basin reaching 1 million barrels of oil equivalent per day. Chevron returned $5.5 billion to shareholders during the quarter, including dividends and share repurchases.

The company completed the acquisition of Hess Corporation in July 2025, which is expected to enhance its asset portfolio significantly. Chevron's cash flow from operations increased compared to the previous year, driven by higher production volumes and improved operational efficiencies. Additionally, Chevron entered the U.S. lithium sector and secured offshore exploration licenses in Brazil and Egypt, further diversifying its business and positioning for future growth.

Aug 01, 2025 06:17:27

Chevron Appoints New Board Member and Announces Transition Services Agreement

Chevron Corporation has appointed John B. Hess to its Board of Directors, effective July 28, 2025. Mr. Hess, who previously served as CEO of Hess Corporation, will also join the Public Policy and Sustainability Committee. He will receive a prorated grant of restricted stock units and an annual cash retainer as part of his compensation package.

Additionally, in anticipation of Chevron's acquisition of Hess, the company has entered into a transition services agreement with HFO Holdings LLC, owned by Mr. Hess. Chevron USA will provide services to HFO and will attempt to retain certain employees until mid-September 2025, with costs estimated at $255,000 per month, plus potential additional benefits for certain employees.

Jul 29, 2025 16:10:21

Chevron Completes Acquisition of Hess Corporation

Chevron Corporation has successfully completed its acquisition of Hess Corporation, following the fulfillment of all necessary closing conditions, including a favorable arbitration outcome regarding Hess’ offshore assets. This merger enhances Chevron's portfolio by adding significant assets, including a 30% stake in the Guyana Stabroek Block and extensive holdings in the Bakken shale, positioning the combined company as a leader in key energy markets worldwide.

The acquisition is expected to drive significant free cash flow and production growth into the next decade. Chevron plans to integrate the two companies efficiently, aiming for $1 billion in annual run-rate cost synergies by the end of 2025. Under the merger agreement, Hess shareholders will receive Chevron shares, resulting in the issuance of approximately 301 million shares of common stock. Chevron will provide updated long-term financial guidance reflecting this acquisition during its Investor Day on November 12.

Jul 18, 2025 08:40:31

Chevron Reports $3.5 Billion Earnings and $6.9 Billion Shareholder Return

Chevron Corporation reported earnings of $3.5 billion for the first quarter of 2025, a decline from $5.5 billion in the same quarter last year. Adjusted earnings were $3.8 billion, down from $5.4 billion a year ago. The decrease was attributed to lower income from upstream and downstream equity affiliates, as well as unfavorable foreign exchange effects. The company returned $6.9 billion to shareholders during the quarter, which included share repurchases and dividends, and declared a quarterly dividend of $1.71 per share, payable in June 2025.

In terms of production, Chevron began production from the Ballymore field in the Gulf of America in April 2025 and reported relatively flat worldwide production compared to the previous year. The company also acquired a 4.99% stake in Hess Corporation, reflecting confidence in a pending acquisition. Capital expenditures were lower than last year, and cash flow from operations decreased due to lower earnings and tax payments related to the sale of Canadian assets. The company's debt ratio increased to 16.6% at the end of the period.

May 02, 2025 06:26:38