CVX — Chevron Corporation
Energy · Oil & Gas Integrated
About Chevron Corporation
Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. It operates through Upstream, Downstream, and All Other segments. The Upstream segment engages in the exploration for, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; carbon capture and storage; and operation of a gas-to-liquids plant. Its Downstream segment refines crude oil into petroleum products; markets crude oil, refined products, and lubricants; manufactures and markets renewable fuels; transports crude oil and refined products through pipeline, marine vessel, motor equipment, and rail car; and manufactures and markets commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives. The All Other segment engages in cash management and debt financing; insurance; real estate; and technology activities. It has operations in North America, South America, Europe, Africa, Asia, and Australia. The company was formerly known as ChevronTexaco Corporation and changed its name to Chevron Corporation in May 2005. Chevron Corporation was founded in 1879 and is headquartered in Houston, Texas.
The oil & gas majors
The integrated majors do everything: they find and pump oil and gas, refine it, ship it, trade it, and sell it at the pump. That integration is the point — when crude prices fall, refining and trading often cushion the blow, which is why these are the steadiest names in the energy universe. At healthy oil prices they generate enormous cash, and most of it now goes to dividends and buybacks rather than growth drilling — a discipline investors forced on the industry after a decade of overspending. They trade at low multiples compared with the rest of the market, and they move with crude prices and capital-return announcements, not with stories. Chevron pairs Permian and Gulf of Mexico production with global LNG and refining, and closed its long-fought acquisition of Hess in 2025 for a stake in Guyana's oilfields.
Key data · delayed ~15 min, as of 1 August 2026
| Ticker | CVX |
| Company | Chevron Corporation |
| Price | $196.83 |
| Market cap | $392.0B |
| Sector / industry | Energy / Oil & Gas Integrated |
| Analyst mean target | $215 (24 analysts, buy) |
Valuation read
What the price implies: the market is pricing in roughly ~2%/yr earnings growth (modest), on a reverse-DCF of forward earnings ($12.73). Run your own assumptions in the fair-value calculator.
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