Chevron Gears Up For Q2 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Chevron Corporation CVX is expected to release earnings results for its second quarter, before the opening bell on Friday, Aug. 2.

Analysts expect the San Ramon, California-based company to report quarterly earnings at $2.93 per share, down from $3.28 per share in the year-ago quarter. Chevron is projected to report quarterly revenue of $50.80 billion, compared to $48.9 billion in the year-earlier quarter, according to data from Benzinga Pro.

Exxon Mobil and its partner CNOOC Ltd have filed arbitration claims, asserting their right of first refusal to any sale of Hess Corp’s HES stake in a Guyana oil-producing joint venture. This move could potentially hinder Chevron’s proposed $53 billion acquisition of Hess.

Chevron shares fell 4.9% to close at $152.62 on Thursday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Bernstein analyst Bob Brackett downgraded the stock from Outperform to Market Perform and cut the price target from $183 to $167 on July 17. This analyst has an accuracy rate of 67%.
• Mizuho analyst Nitin Kumar maintained a Buy rating and raised the price target from $200 to $205 on May 13. This analyst has an accuracy rate of 69%.
• TD Cowen analyst Jason Gabelman maintained a Hold rating and boosted the price target from $155 to $160 on April 29. This analyst has an accuracy rate of 72%.
• Piper Sandler analyst Ryan Todd maintained an Overweight rating and raised the price target from $180 to $204 on April 18. This analyst has an accuracy rate of 73%.
• Raymond James analyst Justin Jenkins maintained an Outperform rating and increased the price target from $170 to $174 on April 15. This analyst has an accuracy rate of 79%.

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