- Chevron’s 1Q adjusted EPS outperformed estimates. The adjusted EPS was $2.93, surpassing the estimated $2.90.
- The reported EPS stands higher at $2.97.
- Upstream earnings exceeded expectations, reaching $5.24 billion against the estimated $5.12 billion.
- Earnings from US Upstream were robust at $2.08 billion.
- International Upstream earnings also surpassed estimates. They totaled $3.16 billion, exceeding the estimated $3.07 billion.
- International Downstream earnings were solid, recording a figure of $330 million.
- The cash flow from operations stood at $6.8 billion, slightly lower than the estimated $7.78 billion.
- Revenue and other income reached $48.72 billion, a bit lower than the estimated $49.17 billion.
- The buying sentiment is stronger amongst investors with 17 buys and 10 holds. No sells were reported.
Chevron Corp on Smartkarma
Analyst coverage of Chevron Corp on Smartkarma, a leading independent investment research network, has been positive. Baptista Research, through their insights on Chevron Corporation, highlighted the company’s strong performance in 2023 despite global challenges. They emphasized Chevron’s impressive Return on Capital Employed (ROCE) of 14% and the record-high production levels. Additionally, Chevron returned a substantial $26 billion to shareholders, showcasing its financial strength and commitment to shareholder value.
In another report by Baptista Research, analysts discussed the potential impact of Chevron Corporation’s Hess acquisition. The report mentioned a solid performance in the previous quarter, with revenues surpassing analyst expectations. Chevron demonstrated strong earnings, cash flow, and ROCE, reflecting its operational efficiency. Notably, the company repurchased shares worth over $3 billion, underscoring its focus on optimizing capital allocation amidst market uncertainties.
A look at Chevron Corp Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 4 | |
| Growth | 5 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Looking ahead, Chevron Corp seems to have a promising long-term outlook based on the Smartkarma Smart Scores assessment. With a strong score of 5 for Growth, the company is positioned well for future expansion and increasing its market presence. Additionally, Chevron scored a solid 4 for Dividend, indicating its commitment to rewarding shareholders over the long run.
Moreover, Chevron received respectable scores of 3 for both Value and Resilience, suggesting a balanced approach to managing its financials and navigating potential economic challenges. The company also achieved a Momentum score of 4, reflecting positive trends in its stock performance and overall market sentiment. Given its diversified operations in various countries and across different energy sectors, Chevron Corporation appears well-positioned for sustainable growth and resilience in the ever-evolving energy industry.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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