Chevron paid a quarterly dividend of $1.78 per share on June 10, marking its 39th consecutive annual increase, while the stock closed at $164.78 on June 30 for a yield near 4%. The company’s 2025 free cash flow of $16.6 billion covered the dividend 1.30 times, and first-quarter 2026 adjusted earnings per share of $1.41 beat estimates by 46%. Worldwide net oil-equivalent production surged 15% to 3,858 thousand barrels of oil equivalent per day in the first quarter of 2026, driven by the Hess acquisition, with Permian output crossing 1 million barrels of oil equivalent per day. The negative free cash flow in the first quarter was attributed to roughly $2.9 billion in reversing timing items, not structural weakness. Chevron returned $27.1 billion to shareholders in 2025 and repurchased another $2.5 billion in stock in the first quarter of 2026, while analysts maintain a consensus buy rating with a target price of $217.14.
Chevron CorpChevron's dividend streak, strong free cash flow coverage, earnings beat, and buybacks highlight financial strength.
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