Key takeaways
- Chevron stock reached a fresh 52-week high ahead of the company's Q3 2026 earnings report
- Wall Street expects Chevron's quarterly earnings to surge 155.68% year over year
- Higher oil prices, stronger production and the Hess acquisition supported Chevron's growth
Chevron shares are trading near their highest levels of the year as investors prepare for the energy giant's third-quarter earnings report. Wall Street is now also forecasting a big increase in profits.
The company's stock closed at $224.45 on Monday, slipping 0.24% after surging 2.59% in the previous session. Shares also reached a fresh 52-week high of $225.67 during Monday's trading, thanks to investor interest ahead of the earnings announcement.
Overall, Chevron's strong share-price performance comes amid elevated oil prices, growing production and expectations that the company will deliver another impressive quarterly performance.
Chevron Earnings Expected to Surge More Than 150%
Chevron is scheduled to release its third-quarter 2026 earnings on Oct. 30, and analysts are anticipating massive year-over-year growth.
According to Zacks estimates, Chevron is expected to report earnings of $4.73 per share, which is a 155.68% increase from the same period last year. Revenue is projected to reach approximately $58.88 billion, an 18.4% year-over-year increase.
However, analyst forecasts vary. Some estimates place quarterly earnings and revenue slightly higher.
The anticipated earnings surge follows an exceptionally strong second quarter, when Chevron reported $12.1 billion in net earnings and adjusted earnings of $6.06 per share. The company benefited from higher crude oil prices, strong refining margins and increased production after its acquisition of Hess.
Chevron also reported a 20% year-over-year increase in worldwide production during the quarter, alongside record US output.
What Investors Should Watch in Chevron's Oct. 30 Earnings
Investors will closely monitor Chevron's production growth, refining profitability, cash flow and shareholder returns when the company announces its results. Progress integrating Hess and expanding production in Guyana will also be important indicators of the company's longer-term growth prospects.
Chevron returned billions of dollars to shareholders through dividends and buybacks during the second quarter, and maintained its annual share repurchase target of $10 billion to $20 billion.
With shares trading near record territory and analysts forecasting triple-digit earnings growth, Chevron's upcoming results could determine whether the energy giant's remarkable 2026 stock rally has even more room to run.