From Nasdaq:

Chevron Corporation (NYSE: CVX) is set to announce its fiscal fourth-quarter results on Friday, February 2. With the expectation of revenues and earnings ahead of expectations, Chevron’s stock is likely to trade higher. It is expected to benefit from the supported higher crude oil prices in 2023 and can generate cash even if oil prices trend lower. Due to the current Brent crude oil price at $81 per barrel, Chevron is set to return a lot of capital to shareholders.

Chevron’s stock has seen strong gains, but the increase has been inconsistent. Returns for the stock were 39% in 2021, 53% in 2022, and -17% in 2023, compared to the S&P 500. Trefis’ High Quality (HQ) Portfolio outperformed the S&P 500 each year. Chevron’s valuation is around $162 per share, which is 10% higher than the current market price.

Chevron is expected to have revenues above consensus estimates for Q4 2023. Additionally, Chevron’s Q4 2023 EPS is likely to beat consensus estimates marginally with an estimated EPS of $3.15. The company is well-positioned to benefit from its growing activity in the Permian Basin and is lowering its carbon footprint by investing in hydrogen and alternative fuels.

The stock price estimate for Chevron is higher than the current market price with an estimated EPS of around $13.24, implying a price of about $162. Chevron’s peers are compared on metrics that matter, which can provide helpful insights for investors.



Read more: Down 18% Since 2023, How Will CVX Stock Trend Post Q4 Results?