Chevron has delivered the worst stock performance of the year among all major oil companies. It’s obvious that Wall Street simply isn’t buying the story. No matter how desperate the ELT appears when communicating their strategy, they clearly no longer understand what it actually takes to win. They think they’re delivering what Wall Street wants, and maybe they can convince themselves of that — but they can’t convince anyone else. They can’t even convince their own employees. And the result is exactly what we’re seeing today: the worst-performing stock of the year.
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I only listen to Jimmy Cramer and he says in the Oil Field “BUY BUY BUY” Chevron. Jimmy is a Genius.
@1c6, you are correct but don't forget that this industry is also like every other industry and has been for decades. We have gone through these mass lay-offs all along, just maybe not for the same exact reasons. And many of us have lived through them to tell the story and have had long productive careers, maybe not with the same employer but maty have. Too many people are thinking that they need a lifelong safety net and career/pension at one company. Don't think that there is a place today that you can easily do that. We never thought that and did fine. You are better off as a contractor/consultant and able to move around. Your experience is what you have earned, not a paycheck. If you are an IT or instrument tech or Civil, EE, or mech. E. you should be able to get a good job in many places and have experience with a reputable employer, even though many of you think that your current one is so bad. Your next employer does not want to hear or learn from others how cushy you had it or how you could WFH and not report/avoid direct contact, scrutiny or review. They want to know that you stuck with all of it, hung in there and dealt with adversary, issues, challenges and came out that much tougher, smarter and in a better position to handle more.
this person is heavily downvoted despite being 100% correct.
every single oil and gas company purged 20-25% of employees last year and are poised to purge another 5-10% every 12-18 months seemingly forever.
nobody is exploring. nobody has new assets. everybody wants to bolt stuff on in proven dirt or up interest stakes.
what this means is that the entire industry shrank and is going to shrink more. moving jobs to india is actually not as huge of a cost saving as you think, it’s just an excuse to find a few hundred million to appease shareholders when usually you’d be investing billions in capital in new ventures.
this industry is at deaths door, but it’s going to move at a grandma with a walkers pace on the way in. i wouldn’t bet that you can do an entire career in this industry. why would want yo sweat indian job theft and mass firings at all times for 40 years? really d-mb way to live. wake up and see the industry as a whole for what it is and where it will be and get out.
Investor day said Chevron is the best
You’re witnessing a slow death due to years of poor management, lack of exploration success and poor reserves replacement. Our cash cow assets that we’ve relied on for several decades are rolling over, hence why we’re buying reserves. Now we’re seeing headcount reductions hitting US payroll technical employees hard, and yet the company solution is AI and offshoring technical workers to India for a fraction of the cost. Writing is on the wall IMHO.
@jg cip is 1.2
What happened to all the downvotes. It looks like someone HR offshore has a full time job monitoring this site
My small amount of dividend aristocrat CVX is doing just fine and overall I am doing great.
“ @c2 there were 700 people hired in the "Engine" in 2025. The goal is to hire up to a total of 3,000 in the next couple of years. We are in for more layoffs in 2026, 2027 and beyond. The schedule of layoffs will depend how fast the Engine can to ramp up....”
And we all know that Chevron ELT always executes flawlessly per their brilliantly crafted plans.
A 0.5 CIP would be a gift based on the performance of those who hang out all day on sites like this. Count your blessings is what I would say.
This su-ks. Hoping the CIP is at least 1. A sub 1 CIP would add insult to injury.
@c2 there were 700 people hired in the "Engine" in 2025. The goal is to hire up to a total of 3,000 in the next couple of years. We are in for more layoffs in 2026, 2027 and beyond. The schedule of layoffs will depend how fast the Engine can to ramp up....
Chevron doesn't believe that the employees you hire and retain make a difference. Their results reflect that belief.
Oil prices peaked 2Q 2022. Exxon upstream earned about $4.5B and Chevron $7B.
Fast forward to 3Q2025 with oil prices down 30%, Chevron earning are cut in half to $3.3B even with 1 million more barrels per day production. Esso production is also up about 1 million per day but a lot came from Guyana where terms are amazing. So, despite 30% lower oil prices Exxon earnings were UP about 30%!! Their stock price is up 30% also while ours is down about 10%. That's why we needed HESS and why they blocked it.
When you’re ranked third, you can justify your position with reasons such as oil-price sensitivity—but not when you’re at the bottom.
CVX took on debt to pay the sacred dividend and fund stock buybacks with $80 oil. What did they think would happen at $60 oil?
@cw Nope. XOM is very diversified to include a strong chemicals business. Include their scale and that’s why they are the market leader.
@bz what about Exxon? They should be more sensitive to oil prices than we are. No excuses this time
Don't say that out loud. MW is a one trick pony. 15% more head count reduction headed our way.
Our earnings are more sensitive to oil prices than competitors. That's good when prices rise like they did in 2021-22 and our stock soared above the rest. Now oil prices are about half what they were three years ago and we are getting pummeled. If prices recover our stock will also.
The transformation is sort of deck chair reshuffling. If it results in higher earnings, that's all the market cares about.
The strategy is a slogan, not a vision that employees can get behind and be guided by. CVX management and - evidently - the BOD - believe that the strategy should mirror our peers. Wall Street want innovation and direction. They want someone who knows how to profitably invest their cash flow - gains from the past. Wall street wants potential gains in the future. They are not seeing them, me neither.
There aren’t that many majors to compare with. CVX just isn’t that good. At least it’s got +8% gain versus conoco and Oxy with negative returns.
But the stock buybacks!
No organic growth story. Reserve replacement ratio is garbage. Not difficult to understand