Core Viewpoint - U.S. energy company stocks experienced a decline in pre-market trading on February 2, with notable drops across major companies in the sector [2] Group 1: Company Performance - Occidental Petroleum saw a decrease of 3.1% [2] - ConocoPhillips dropped by 2.6% [2] - Halliburton's stock fell by 4.1% [2] - Schlumberger experienced a decline of 2.9% [2] - ExxonMobil's shares decreased by 1.5% [2] - Chevron's stock was down by 1.7% [2]

Core Viewpoint - Oil prices have dropped by 5%, leading to significant pre-market declines in the stock prices of major U.S. energy companies [1] Group 1: Company Stock Performance - Occidental Petroleum (OXY.US) shares fell by 3.1% [1] - ConocoPhillips (COP.US) shares decreased by 2.6% [1] - Halliburton (HAL.US) stock dropped by 4.1% [1] - Schlumberger (SLB.US) shares declined by 2.9% [1] - ExxonMobil (XOM.US) saw a decrease of 1.5% in its stock price [1] - Chevron (CVX.US) shares fell by 1.7% [1]

Core Insights - Chevron reported a net income of $2.84 billion in Q4 2025, a decrease of approximately 12.5% from $3.25 billion in Q4 2024 [1] - The company's total revenue for Q4 2025 was $46.87 billion, down 10.2% from $52.2 billion in the same period of the previous year [2] Financial Performance - Diluted earnings per share were $1.39 in Q4 2025, a fall of around 24.5% from $1.84 in Q4 2024 [1] - Adjusted earnings were $3.02 billion for Q4 2025, down by approximately 16.8% from $3.63 billion in the same quarter last year [1] - Adjusted diluted earnings per share stood at $1.52 in Q4 2025, compared to $2.06 in Q4 2024, a decrease of around 26.2% [2] Operational Highlights - Cash flow from operations rose to $10.8 billion in Q4 2025, an increase of roughly 24.1% from $8.7 billion in the same quarter of the previous year [2] - Excluding working capital adjustments, cash flow from operations increased to $9.1 billion in Q4 2025 from $5.3 billion in Q4 2024, an increase of approximately 71.7% [4] Segment Performance - Chevron earned $3.03 billion in Q4 2025 through its upstream segment, which is around 29.5% lower than the $4.3 billion achieved in Q4 2024 [3] - The downstream segment reported earnings of $823 million in Q4 2025, compared to a loss of $248 million in Q4 2024 [3] - The 'All Other' category reported a loss of $1.08 billion in Q4 2025, compared to a loss of $817 million in Q4 2024 [3] Annual Overview - The company's net income for the full year 2025 was $12.48 billion, down by approximately 29.7% from $17.75 billion in 2024 [5] - Total revenue for the full year 2025 was $189.03 billion, a decrease of around 6.8% from $202.79 billion in 2024 [5] - Chevron achieved record oil-equivalent production levels globally and in the US, aided by the Hess acquisition, which added 261,000 barrels of oil equivalent per day [5] Reserves and Investments - Year-end proved reserves stood at around 10.6 billion barrels of net oil equivalent, with significant additions from Hess and new projects in the Permian Basin, Australia, and Guyana, resulting in a reserve replacement ratio of 158% [6] - Capital expenditure rose due to investments in legacy Hess assets and US data center power solutions, despite reduced downstream spending [6] Strategic Moves - Through the completion of the Hess acquisition, Chevron achieved a $1 billion synergy target [7] - The company commenced production at key projects in Kazakhstan and the Gulf of Mexico during Q4 [7]

Group 1: U.S.-China-Venezuela Oil Dynamics - President Trump indicated that China may negotiate a deal to purchase Venezuelan oil, highlighting the potential for significant transactions in this sector [1] - China currently imports approximately 2 million barrels per day of asphalt-rich oil, with around 500,000 barrels per day sourced from Venezuela, which is essential for meeting over half of its daily asphalt requirements [3] - The U.S. has strategic leverage over China by controlling access to Venezuelan heavy crude, which is vital for maintaining asphalt quality [4] Group 2: India's Oil Strategy - India is expected to pivot towards Venezuelan oil, replacing its previous Iranian imports, which were halted due to U.S. sanctions in 2019 [5] - Following the sanctions on Iran, Indian refiners shifted to U.S. oil and later became the largest buyer of discounted Russian oil after the sanctions on Russia in 2022 [5] - The U.S. Treasury Secretary mentioned the possibility of lifting the 25% tariff on Indian goods, which may influence India's oil purchasing decisions [6] Group 3: Sanctions and Market Adjustments - The U.S. has eased some sanctions on Venezuela's oil sector, facilitating U.S. companies' ability to sell Venezuelan crude [7]

The bullish case for oil stocks received a significant boost earlier this month when U.S. forces captured the now former Venezuelan President Nicolas Maduro, sparking hope that the petroleum-rich country will eventually be open to Western oil majors. Count ConocoPhillips (NYSE: COP) among the domestic oil equities in rally mode to start 2026. January isn't over yet, but this stock is higher by more than 8%. How much, if any, of that move is attributable to Venezuela is up for debate. Where to invest $1,000 ...

Core Viewpoint - Chevron Corporation reported mixed fourth-quarter earnings, with a slight revenue miss but earnings exceeding expectations, reflecting lower year-over-year metrics due to declining oil prices in 2025 [1] Group 1: Earnings Report - The company achieved record production in 2025, with a 12% increase, driven by significant contributions from newly acquired Hess assets, particularly in Guyana and the Bakken formation [3] - Despite lower oil prices, Chevron's earnings highlighted strong cash flow and operational momentum, supported by a 39-year dividend growth streak [5] Group 2: Future Outlook - Chevron is optimistic about 2026, anticipating a full year of production from Hess assets and plans to increase production in Venezuela by 50% within the next 18 to 24 months [2] - The company completed its Tamar optimization project and reached a final investment decision on the Leviathan expansion, with additional capacity expected in the first quarter of 2026 [4]

Chevron Corp (CVX) announced a 4.0% dividend per share (DPS) hike to $7.12 annually on Jan. 30, slightly lower than my expectation of a 5% hike to $7.18. CVX stock has risen 20% since mid-December. It could be fully valued as it has reached my price target. This article will discuss how shareholders can play CVX. CVX closed at $176.90 on Friday, Jan. 30, up $5.71 (+3.34%), and up $24.39 or+16.1% year-to-date from $152.41 on Dec. 31, 2025. More News from Barchart CVX stock - last 3 months - Barchart Mor ...

Core Viewpoint - Chevron reported strong fourth-quarter earnings and significant production growth, emphasizing a shift towards free cash flow growth and strategic acquisitions to enhance its upstream portfolio [1][2][3]. Financial Performance - Fourth-quarter earnings reached $2.8 billion, or $1.39 per share, with adjusted earnings of $3.0 billion, or $1.52 per share, impacted by pension curtailment costs of $128 million and negative foreign currency effects of $130 million [1]. - Operating cash flow for Q4 was $10.8 billion, contributing to an adjusted free cash flow of approximately $20 billion for the year, with record cash returned to shareholders, including $3 billion in buybacks during the quarter [4][6]. - The company announced a 4% increase in the quarterly dividend, marking it as a top financial priority, with over $100 billion returned in dividends and buybacks over the last four years [7]. Production and Growth Strategy - Chevron achieved record global and U.S. production in 2025, reaching approximately 1,000,000 barrels of oil equivalent per day in the Permian, with a target of 300,000 boe/d in the Gulf of Mexico by 2026 [2][5]. - The company completed the Future Growth Project at Tengiz, adding 260,000 barrels of oil per day, and initiated major projects such as Ballymore and Whale in the Gulf of Mexico [2][5]. - Chevron's production in Venezuela has increased by over 200,000 barrels per day since 2022, with potential for an additional 50% increase pending U.S. approvals [3][8][9]. Cost Management and Efficiency - Chevron's cost reduction program exceeded expectations, delivering $1.5 billion in 2025 and targeting $3 billion–$4 billion in savings by the end of 2026, with over 60% of savings expected from durable efficiency gains [16]. - The company is optimizing cash generation and capital efficiency in the Permian, maintaining production at roughly 1 million barrels per day [16]. Future Outlook - Looking ahead to 2026, Chevron expects continued production growth driven by project ramp-ups and efficiency improvements, with a projected year-over-year increase of 7%–10% in production, excluding asset sales [15]. - The company is also focusing on expanding its Eastern Mediterranean gas projects, with significant capacity increases anticipated by the end of the decade [11][12].

Group 1: Company Overview - Chevron Corporation (NYSE:CVX) is an integrated energy company involved in the production of crude oil and natural gas, manufacturing transportation fuels, lubricants, petrochemicals, and additives, as well as developing technologies that support its operations and the wider energy industry [6] Group 2: Market Outlook and Price Target - BofA raised its price target on Chevron Corporation (CVX) to $188 from $180, maintaining a Buy rating, reflecting updated views on Integrated, Refining, and Midstream companies due to higher front-month crude prices influenced by geopolitical factors [2] - Analysts noted that the removal of Maduro in Venezuela and ongoing unrest in Iran are contributing to a more favorable energy outlook for Chevron [2] Group 3: Venezuelan Crude Shipments - Chevron is preparing to increase shipments of Venezuelan crude to the US, with exports expected to rise to approximately 300,000 barrels per day in March, marking a significant recovery from previous slowdowns [3] - The company has secured several tankers and is accelerating loadings to facilitate this increase in shipments [3] Group 4: Production Capacity and Joint Ventures - Chevron's joint ventures with PDVSA are currently producing about 240,000 to 250,000 barrels per day of heavy crude, which is preferred by Gulf Coast refiners, and these operations have not been affected by recent production cuts from PDVSA [4] - Company executives indicated that Chevron could potentially double crude loadings and increase production over the next two years by focusing on repairing and upgrading existing facilities [5]

Core Insights - U.S. oil majors Exxon Mobil and Chevron provided new insights regarding their perspectives on Venezuela, although no long-term investment commitments were made [1] Company Insights - Exxon Mobil and Chevron are evaluating the potential of Venezuela's oil reserves, indicating a cautious approach towards future investments in the region [1] - Both companies are closely monitoring geopolitical developments and regulatory changes in Venezuela that could impact their operations [1] Industry Context - The oil industry is experiencing heightened interest in Venezuela due to its significant oil reserves, which are among the largest in the world [1] - The current geopolitical climate and economic conditions in Venezuela present both opportunities and challenges for foreign oil companies [1]