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Sentiment · FY2026 Q1
| Analyst | Firm | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Devin McDermott | Morgan Stanley | 6 | 0% |
| Lucas Herrmann | BNP Paribas | 6 | 17% |
| Doug Leggate | Wolfe Research | 6 | 17% |
| Jason Gabelman | TD Cowen | 6 | 0% |
| Steve Richardson | Evercore ISI | 6 | 0% |
| Biraj Borkhataria | RBC Capital Markets | 6 | 17% |
| Jean Salisbury | Bank of America | 6 | 0% |
| Neil Mehta | Goldman Sachs | 6 | 0% |
| Rob Brackett | Bernstein | 5 | 0% |
| Paul Cheng | Scotiabank | 5 | 0% |
| Firm | Analysts | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Goldman Sachs | 1 | 6 | 0% |
| RBC Capital Markets | 1 | 6 | 17% |
| Bank of America | 1 | 6 | 0% |
| BNP Paribas |
| 1 |
| 6 |
| 17% |
| JPMorgan | 2 | 6 | 0% |
| Morgan Stanley | 1 | 6 | 0% |
| Evercore ISI | 1 | 6 | 0% |
| TD Cowen | 1 | 6 | 0% |
Chevron delivered Q1 2026 adjusted EPS of $1.41 on revenue growth of 3.16% year-over-year, with record production driven by the Hess integration contributing meaningfully. Timing effects pressured reported GAAP earnings of $1.11 per share, while the integrated value chain captured strong refining margins. All guidance was reiterated unchanged including CAPEX of $18-$19B, production growth of 7-10%, and $3-$4B in structural cost reductions, with TCO operating at full rates and showing upside potential.
Capital Allocation | Capex Investment | Competitive Dynamics | Geographic Expansion | Innovation & R&D | Revenue Growth | Regulation Policy | Macroeconomic | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 9 | 5 | 4 | 5 | 3 | 1 | 2 | 2 |
| 2025Q1 | 5 | 5 | 4 | 2 | 3 | 3 | 2 | 4 |
| 2025Q2 | 9 | 4 | 2 | 3 | 4 | 4 | 2 | |
| 2025Q3 | 4 | 3 | 6 | 3 | 5 | 3 | 3 | 2 |
| 2025Q4 | 6 | 3 | 7 | 4 | 3 | 2 | 2 | 2 |
| 2026Q1 | 4 | 6 | 2 | 4 | 1 | 3 | 3 | 3 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Capital Allocation | 9 | 5 | 9 | 4 | 6 | 4 |
| Capex Investment | 5 | 5 | 4 | 3 | 3 | 6 |
| Competitive Dynamics | 4 | 4 | 2 | 6 | 7 | 2 |
| Geographic Expansion | 5 | 2 | 3 | 3 | 4 | 4 |
| Innovation & R&D | 3 | 3 | 4 | 5 | 3 | 1 |
| Revenue Growth | 1 | 3 | 4 | 3 | 2 | 3 |
| Regulation Policy | 2 | 2 | 2 | 3 | 2 | 3 |
| Macroeconomic | 2 | 4 | 2 | 2 | 3 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
CVX Chevron Corporation | 7 | +3.2% | |
| XOM ExxonMobil | 7 | +2.6% |