Chevron (CVX) is scheduled to release Q3 earnings on Oct. 31, with consensus estimates projecting a year-over-year decline in EPS to $1.71 and revenue to $49.01 billion. Concurrently, the company is engaged in a dispute with Venture Global regarding a proposed delay for the Plaquemines LNG terminal startup, escalating tensions with long-term customers. Shares of CVX closed down 1% at $153.52 on Thursday, against a backdrop of recent mixed analyst ratings that include both positive initiations/reiterations and downgrades.
Chevron Corporation (CVX) is poised to release its third-quarter earnings on October 31, with consensus estimates projecting a notable year-over-year decline. Analysts anticipate Q3 EPS of $1.71, down from $2.51 in the prior year, alongside a revenue forecast of $49.01 billion, compared to $50.67 billion previously. This anticipated underperformance contributed to a 1% share price drop to $153.52 on Thursday. Concurrently, Chevron is embroiled in a significant dispute with Venture Global regarding a proposed delay for the Plaquemines LNG export terminal startup. Chevron's request for input on this delay has reportedly escalated tensions with long-term customers, signaling potential operational and contractual risks in a critical growth segment. This situation could impact future LNG supply and customer relationships. Analyst sentiment surrounding CVX is moderately negative, as indicated by a -0.4 score, despite a mixed bag of recent ratings. While HSBC downgraded the stock to Hold with a price target cut to $158, and Raymond James also reduced its target to $160, Wells Fargo initiated coverage with an Overweight rating and a $190 price target. Piper Sandler also maintained Overweight, increasing its target to $168, reflecting divergent views on the company's near-term outlook and valuation.
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Overall Sentiment
moderately negative
Sentiment Score
-0.40
Ticker Sentiment
