Q1 Results Are In: Chevron Boosted U.S. Production 24% and Returned $6 Billion to Shareholders. Is CVX Stock a Buy Now?
Chevron had a solid first quarter, and high oil prices suggest even better performance to come.
Q1 Results Are In: Chevron Boosted U.S. Production 24% and Returned $6 Billion to Shareholders. Is CVX Stock a Buy Now?
Overview
Chevron's (NYSE: CVX) first-quarter 2026 earnings were a bit weak, falling 35% year over year. That figure sounds bad, but it masks material underlying strength. Notably, there was a one-time hit due to the timing of certain hedging activity, which will likely reverse later in the year, making future quarters look even better. With the company growing production by 24% and returning a huge $6 billion in cash to shareholders, is now the time to buy Chevron?
The big story in the energy sector today is the geopolitical conflict in the Middle East. The high energy prices resulting from supply constraints caused by this conflict didn't actually start until partway through the first quarter. Add in the $2.9 billion headwind from the timing of hedging activity, and Chevron's first quarter actually looked fairly weak.
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Originally published at www.fool.com.
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