Chevron stock holds steady as lower energy prices weigh on recent earnings
Published on 07/23/2026 at 08:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Chevron stock is trading in an environment where lower oil and gas prices have translated into weaker recent earnings for Chevron Corp. (ISIN US1667641005), but the company continues to emphasize capital discipline and shareholder returns in 2024.
First quarter 2024 earnings ease on prices
According to Chevron's first quarter 2024 earnings release, the company reported earnings of about $5.5 billion for the quarter, down from roughly $6.6 billion in the first quarter of 2023 as softer commodity prices and narrower refining margins reduced profitability.
In the same report, Chevron stated that total first quarter 2024 upstream production was broadly stable compared with the prior year period, while average realized prices for crude oil and natural gas liquids declined versus the first quarter of 2023, contributing to the earnings decline.
Revenue trends and cash returns to investors
Chevron's first quarter 2024 revenue and other income were reported at approximately $48 billion, compared with around $50 billion in the first quarter of 2023, illustrating how lower price realizations more than offset incremental volume and portfolio effects.
The company also highlighted its ongoing focus on shareholder distributions, noting that it returned more than $6 billion to investors during the first quarter of 2024 through a combination of dividends and share repurchases, consistent with its multi-year commitment to return a significant portion of free cash flow.
Further details on Chevron financials
Investors who want to study Chevron's full financial and operating data can review the latest quarterly and annual filings as well as historical performance and guidance information on the dedicated investor relations pages.
Pemex partnership supports long term production
Chevron has continued to invest in upstream projects that can support long term production, including partnerships in the Gulf of Mexico and other key basins, while maintaining a disciplined capital spending framework for 2024 to align with its cash generation outlook.
Chevron stock and market context
Chevron stock is listed on the New York Stock Exchange and is included in the Dow Jones Industrial Average and the S and P 500 index, which means the company is widely held by both active managers and index-linked funds in the United States and internationally.
Chevron stock key data
- Company: Chevron Corp.
- ISIN: US1667641005
- Ticker: NYSE: CVX
- Trading venue: NYSE
- Sector / Industry: Energy / Integrated oil and gas
- Index membership: Dow Jones Industrial Average, S and P 500
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