Chevron Corporation's Stock Analysis

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

Chevron Reports $3.2 Billion Earnings for Fourth Quarter 2024

Chevron Corporation reported earnings of $3.2 billion for the fourth quarter of 2024, a notable increase from $2.3 billion in the same quarter of the previous year. The company achieved record cash returns to shareholders, totaling $27 billion in 2024, and increased production levels by 7% worldwide and 19% in the U.S. Additionally, Chevron announced a 5% increase in its quarterly dividend, reflecting a commitment to returning value to shareholders. Key project milestones were reached in the U.S. and Kazakhstan, contributing to the overall growth in production.

On the downside, Chevron's adjusted earnings fell to $3.6 billion, down from $6.5 billion a year earlier, largely due to lower margins on refined product sales and severance and impairment charges totaling $1.1 billion. Cash flow from operations also decreased compared to last year, impacted by lower earnings and higher asset retirement payments. The U.S. downstream segment reported a loss, primarily driven by reduced margins and higher operating expenses, while international upstream earnings were affected by lower realizations and higher costs.

Jan 31, 2025 06:16:49

Chevron Reports $4.5 Billion Earnings for Third Quarter 2024

Chevron Corporation announced earnings of $4.5 billion for the third quarter of 2024, a decline from $6.5 billion in the same period last year. The decrease was attributed to lower margins on refined product sales and the absence of favorable tax items from the previous year. Despite this, the company reported a cash flow from operations of $9.7 billion and returned a record $7.7 billion to shareholders, which included $4.7 billion in share repurchases and $2.9 billion in dividends. Chevron also noted a 7 percent increase in worldwide net oil-equivalent production, driven by record production in the Permian Basin and key project start-ups in the U.S. Gulf of Mexico.

On the downside, Chevron's adjusted earnings also fell to $4.5 billion compared to $5.7 billion a year prior. The company is in the process of optimizing its portfolio with a $6.5 billion sale of Canadian assets and plans for further divestments totaling $10-15 billion by 2028. Additionally, the earnings per share dropped from $3.48 to $2.48 year-over-year. The report highlighted challenges in the downstream sector with lower margins and operating expenses, affecting overall profitability.

Nov 01, 2024 06:16:39

Chevron Sells Canadian Oil Interests for $6.5 Billion

Chevron has announced the sale of its 20 percent interest in the Athabasca Oil Sands Project and 70 percent interest in the Duvernay shale for $6.5 billion. This all-cash deal, expected to close in late 2024, aligns with Chevron's strategy to divest $10-15 billion in assets by 2028, aiming to optimize its energy portfolio. The sold assets contributed significant production to Chevron, indicating a substantial shift in its operational focus.

While the sale marks a strategic move for Chevron, it raises concerns about the impact on its production capabilities, given the assets' contribution to overall output. The divestiture is part of a broader trend in the energy sector towards optimizing portfolios, but it also reflects the challenges companies face in navigating fluctuating market conditions and regulatory environments. Overall, this transaction signals Chevron's commitment to evolving its business model while addressing current market dynamics.

Oct 07, 2024 06:03:22

Chevron and Hess Merger Passes FTC Review Successfully

Chevron Corporation has received a significant boost as the Federal Trade Commission has completed its antitrust review of the merger with Hess Corporation, marking a crucial step towards finalizing the deal. Chevron's CEO expressed optimism about the merger, highlighting its potential benefits for shareholders and the energy sector, particularly in Guyana. The agreement also includes Hess CEO John Hess serving as an advisor rather than joining the board, which Chevron views positively despite the lost opportunity for board experience.

However, the merger's completion is still contingent upon resolving ongoing arbitration issues related to preemptive rights in a joint operating agreement, which could pose challenges. While Chevron remains confident in its position regarding the arbitration, the outcome remains uncertain. Overall, while the FTC clearance is a positive development, the remaining hurdles could impact the merger's finalization.

Sep 30, 2024 11:56:59