Chevron’s (CVX) shares boomed on Friday after the second-largest American oil and gas producer released its third-quarter 2025 results, surpassing Wall Street’s expectations. The Texas-based company’s $55 billion acquisition of energy company Hess helped propel its production to a quarterly record.
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Chevron Beats Wall Street But EPS Sank YoY
Chevron turned in an earnings per share of $1.82, which beat the analyst forecast of $1.71; however, the earnings fell more than 27% from the $2.51 posted in the same quarter last year. In terms of sales, revenue exceeded analysts’ consensus of $47.23 billion, reaching $49.73 billion, a 2% year-on-year increase.
During the quarter ended September, the supermajor’s U.S. production climbed 27% from the same period last year, while its global output rose 21%. Globally, Chevron produced 4.1 million barrels of oil per day, even as the company took over Hess’s 30% stake in a fertile oilfield operated by its key rival ExxonMobil (XOM) in Guyana.
Hess Acquisition Pumps Up Chevron
Both marked new quarterly highs for Chevron, which also set a record for production in the previous quarter. CVX shares jumped nearly 3% on Friday, topping $158 per share as of 10:00 a.m. EDT.
“The integration of Hess is progressing well, unlocking synergies across our operations and positioning Chevron as a premier global energy company,” noted Mike Wirth, Chevron’s chairman and chief executive.
How Does Chevron Compare to Rival ExxonMobil?
In contrast, shares of key rival ExxonMobil (XOM) hovered near negative territory around the same time following the biggest American crude oil producer’s mixed results for the same quarter. ExxonMobil surpassed analysts’ expectations, earning $1.8 per share, but fell short of their revenue projections by $1.2 billion.
ExxonMobil’s sales totaled $85.3 billion, pulled back by lower crude oil production and higher costs, even as oil prices remained under $70 per barrel for much of the recent quarter.
Is CVX a Buy, Hold, or Sell?
On Wall Street, analysts remain cautious of Chevron’s shares. The stock currently has a Moderate Buy consensus rating based on 11 Buys and five Holds issued by analysts over the past three months.
However, the average CVX price target of $171.27 suggests more than an 8% upswing potential. It is essential to note, meanwhile, that analysts’ forecasts are constantly changing.
