Chevron profit seen tripling amid higher oil prices
CVX•Chevron earnings preview
Shares of Chevron CVX.N were roughly flat at $191.96 ahead of its quarterly earnings results due on Friday before markets open.
Chevron is expected to report strong revenue and profit growth helped by higher oil prices from the Middle East conflict.
Stock performance versus peers
CVX is up about 26% year to date versus the S&P 500 energy index .SPNY, which is up about 31% in the same period and the Dow Industrials .DJI, which is up about 9%.
Revenue, profit and analyst expectations
Revenue is seen rising 38% to about $62 billion while adjusted EPS is expected to more than triple to $5.56 versus $1.77, according to LSEG data.
Brent crude futures LCOc1 are up about 47% year to date.
Of the 27 analysts that cover Chevron Corp, 22 have a "strong buy" or "buy" rating, 4 have a "hold" rating and 1 has a "sell" rating. The median price target of $218.50 is down slightly from $220 a month ago.
