Chevron Corporation (NYSE:CVX) reported a sharp Q1 profit drop and pressured margins even as Tengiz output rose to 960,960 bpd; the company filed input on Australia gas rules, won a Wolfe Research upgrade to Outperform ($210 PT), and will host its Q2 webcast July 31.
Previous Week Recap
- Chevron Q1 Earnings Slump: Chevron (CVX) Q1 earnings fell sharply, showing a notable drop in profit versus prior quarter. Revenue and margins were pressured, reflecting weakness across major U.S. oil producers.
- Chevron 2Q26 Earnings Call July 31: Chevron (CVX) will host its 2Q 2026 earnings call and webcast July 31, 2026 at 11:00 a.m. ET. Presenters: CEO Mike Wirth, CFO Eimear Bonner. Replay available on Chevron’s website.
- Tengiz Output Up 3.7%: Chevron (CVX) reports Tengiz oilfield production rose 3.7% month-over-month in June to 960,960 barrels per day, the field’s reported output for the month.
- Wolfe Upgrades Chevron To Outperform: Wolfe Research upgraded Chevron Corporation (CVX) from Peer Perform to Outperform and set a $210 per-share price target for the stock.
- Chevron Responds To Australia Gas Rules: Chevron (CVX) filed a response to Australia’s National Domestic Gas Reservation consultation, signaling its input on domestic gas supply rules affecting Australian operations and gas allocations.
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